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Hitachi, Honeywell, OSI Systems, Siemens, Schneider Electric, Smiths Detection, Thales, Vanderbilt Industries Electronic Security Market by Top Key Participant: ADT, Axis Communications, Brivo, FLIR Systems
The North America electronic security market is projected to dominate the global business landscape owing to the government initiatives to integrate these systems into their public safety segment. For instance, the FAA Modernization and Reform Act of 2012 contains provisions to make the unmanned aerial systems (UAS) licensing process easier and quicker for law enforcement officials. Various U.S states are currently conducting trial operations on drones to understand their capabilities and their operational efficiency.Request for a sample of this research report @
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Electronic Security Market size is set to exceed USD 60 billion by 2024; according to a new research report by Global Market Insights, Inc. The state and central governments of various countries are placing high focus on the development and adoption of advanced systems in high-traffic locations such as public roads, transit stations, and malls, contributing to the growth of the electronic security market. For instance, the Indian government in 2014 set up a USD 125 million fund solely devoted to the prevention of sexual violence among women through the installation of security equipment such as surveillance systems at high-risk public locations. These hardware systems are equipped with video analytics and advanced algorithms that allow the detection of criminals. Furthermore, technological advancements have also aided in the improvement of existing technologies such as high-resolution 4k cameras and IP surveillance units.
Crime rates across the world are heavily impacted with the rising penetration of these systems in residential and commercial settings and is anticipated to drive the electronic security market growth. End-users across the world are replacing conventional security systems such as guards and physical body checks with high-tech solutions. Physical body checks in malls and airports can be cumbersome and increase customer discomfort, primarily among women. X-ray body scanners, on the contrary, requires the person to pass through an electronic frame.
The rising trend of the development of smart cities in countries such as China and India is contributing to the high growth of the electronic security market. For instance, the Chinese government has undertaken large construction projects for the development of smart cities imbued with advanced security solutions in cities such as Dalian, Hangzhou, Nanjing, and Tianjin. The rise in traveler population across the world is also leading to the growth of the electronic security market.
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The surveillance and alert system market is anticipated to exhibit substantial growth during the forecast timeframe. The reduction in component and raw material costs is contributing to the decline in the electronic security market price trend. Remote monitoring systems are increasingly finding application in developed regions such as U.S and Western Europe. Installing a home security solution with remote monitoring capabilities allows the homeowner to access security cameras and video units situated inside the residential location in real-time.
Public-sector applications are the largest revenue-generating segment. Various government bodies are making use of advanced solutions for surveillance and criminal detection applications. For instance, in September 2017, a police department in Arkansas was reported to be using drones for highly specialized missions such as the tracking of a suspect or obtaining an inside view and additional information in a hostage situation.
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Players operating in the global electronic security market include ADT LLC, ASSA ABLOY Group, Auto Clear LLC, Axis Communications, BOSCH Security Systems, Brivo Systems, LLC., Fisher Research Laboratory, FLIR Systems, Inc., Frontier Pitts, Ltd., Future Fibre Technologies, G4S PLC, Hitachi Ltd, Honeywell International Inc., Johnson Controls International Plc., L-3 Communications Security & Detection Systems, MilliVision Technologies, Napco Security Technologies, Inc., OSI Systems, Inc., OT-Morpho, RedXDefense LLC, Scanna MSC Ltd., Siemens AG, Schneider Electric, SDMS Security Products UK Ltd., Smiths Detection LLC, Thales Group, Vanderbilt Industries LLC, Victoria Alarm Services Ltd., Westminster Group PLC, Zod Security, Amazon, Inc., Apple, Inc., AT&T Inc., DB Schenker Logistics, Denso Corporation, DHL, FedEx, Garmin International, Inc., General Motors, Google Inc., Hyundai Motor Company, NTT DoCoMo, Inc., Nuance Communications, Ricardo PLC, Royal Mail Plc., Samsung Electronics, Toyota Motors, UPS, Volkswagen AG, WS Atkins PLC
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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