Global Electronic Security Market: Overview
Electronic security consists of all the systems that are constructed with electronic devices and embedded technology to advance the system features such as enhance the safety measures and protect human life and physical assets. Electronic security systems are used in various fields of operations such as a business operation to protect confidential business data and to track unauthorized access to the systems having confidential information. These systems could perform security operations like surveillance, alarming, access control or an intrusion control to a facility or an area. To cater to the varying demands of the end-user such as property size and financial budgets, the market players provide an array of equipment. The electronic security provides users with benefits such as video surveillance that helps to oversee entry points in home or business and also with the help of this business can keep their cost low and can prevent both property damages and inventory losses.
Global Electronic Security Market: Growth Factor
The major factors contributing to the demand for electronic security markets are increasing instances of property thefts and break-ins across the world. Other major drivers which are propelling the demand of electronic security are increasing the adoption of electronic security systems by commercial establishments, government agencies, and manufacturing industries. The occurrence of terrorist activities such as contraband smuggling, bombings and shoot-outs in high-risk locations such as government’s headquarters, trade centers, malls and transit locations is leading to massive losses of human life and financial property. Also the infrastructure development projects such as smart cities, IT hubs etc. are increasing the adoption of electronic security systems due to their ability to provide faster, real-time, better safety and security. The factors hindering the growth of the market are high costs associated with the manufacturing, installation, and maintenance of the equipment.
Global Electronic Security Market: Segmentation
The global electronic security market can be segmented on the basis of product type, application and by end-user. On the basis of product type, the market can be segmented as a video surveillance system, EACS (electronic access control systems), security alarms, CCTV (closed circuit television). By application, they are used for residential and commercial purposes. By end-user, they can be segmented into railways, hotels, airports, government, education, banking, retails and others
Global Electronic Security Market: Regional Analysis
North America has a significant share in electronic security software market. Asia Pacific region is anticipated to exhibit significant growth rate in the upcoming years due to infrastructure development at a faster pace in countries such as Japan, India, and China. Owing to the increasing number of IT and manufacturing industries in the region, Europe holds the second position in the global electronic security market. The Middle East and Africa are expected to register moderate growth during the forecast period owing to rise in security awareness and infrastructure development.
Global Electronic Security Market: Competitive Players
Some of the key market players in this market are Bosch Security Systems, Axis Communications, Auto Clear LLC, G4S PLC, Lockheed Martin Corporation, FLIR Systems, Inc., Hitachi Ltd, IBM Corporation, Siemens AG, Thales Group, and OSI Systems, Inc., among others.
Global Electronic Security Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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- Emerging segments and regional markets
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