Emerging Growth on Global Electronic Security Market with Major Predominant Players: ADT, ASSA ABLOY Group, Axis Communications, Bosch Security and Safety Systems, FLIR Systems, G4S, Hitachi, Honeywell, Johnson Controls, Scanna, Smiths Detection and Thale
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The major players operating in the market-
2. ASSA ABLOY Group
4. Axis Communications
5. Bosch Security and Safety Systems
7. FLIR Systems
11. Johnson Controls
12. NAPCO Security Technologies
13. OSI Systems
14. Scanna MSC
15. Schneider Electric
16. Smiths Detection
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.
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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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.
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.
The electronic security industry has been highly competitive with reputed firms such as IBM Corporation, Bosch Security Systems, Thales Group, Siemens AG, Lockheed Martin Corporation, Axis Communications, Auto Clear LLC, Hitachi Ltd, G4S PLC, OSI Systems, Inc., to name a few. The upcoming electronic security providers like Zicom and Gemalto, which collaborate with banks and governments across various regions of the world are forming a strong framework to disrupt the electronic security market in a positive way. The mergers and acquisitions, technological advancement, alliances and growing collaboration of private sector with the governmental agencies will fuel the sustained growth of the electronic security industry.
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Electronic security market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
Electronic Security Market, By Product
• Access and Control Systems
• Surveillance and alert system
• Anti-theft system
• Antiterrorist and inspection equipment
Electronic Security Market, By Application
• Public sector
• Custom service sector
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