Global Smart Security System Market Size, Industry Share, Growth & Forecast To 2025

The global smart security market size was valued at $XX billion in 2018 and is further estimated to reach $XX billion in 2025, exhibiting a growth rate of XX% during the forecast period. The market growth is attributed to the increasing demand for public security due to rising crime rates. Moreover, increasing tension across borders coupled with growing terrorism is expected to drive the growth of the global smart security industry. Manufacturers of security systems are using a wide range of cameras such as pan, tilt, and zoom cameras, which are connected to the internet, for providing access to the information from desired locations through wired or wireless connectivity.

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Advancement in technologies such as the advent of the Internet of Things (IoT) and increasing penetration of internet connectivity have enabled real-time surveillance at remote and critical locations with enhanced accuracy. This has significantly increased the rate of adoption of advanced security systems with improved performance.

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The global smart security market is expected to witness significant growth in the government and law enforcement industry owing to the increasing rate of crimes. Various governments across the globe are taking initiatives for reducing the rates of crime. Most of the video surveillance technologies are inefficient and police investigations are often hampered by blind spots in video networks and low-quality imagery. Issues with storage and retrieval of data result in the delay in reaching data to command staff. Further, there may be a loss in data that can derail investigations altogether. All these issues can be resolved with a smart security system that helps police combat crime more effectively, that increase its demand and drives the growth of the smart security market.

ICT solution providers are offering smart city solutions by using a web of interconnected devices, software and cloud storage systems allowing public and private services to work together more efficiently.Market players including Huawei are using this network to provide new tools to the governments for improving public services such as crime-fighting, and for keeping an eye on what is going on generally.

Global Smart SecurityMarket Segmentation

By Equipment Type

Biometric and authentication System
Cyber security
Surveillance System
Others

By Application

Residential
Commercial

Global Smart Security Market Segment by Region

North America

US
Canada

Europe

Germany
UK
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

Latin America
Middle East and Africa

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This release was published on openPR.