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ePrison Market is gaining huge growth |Market valued at US$ 1.81 Bn in 2018

02-18-2020 11:21 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Credence Research Inc

eprison market credence research

eprison market credence research

The global ePrison market was valued at US$ 1.81 Bn in 2018 and is expected to expand at a CAGR of 6.2% during the forecast from 2019 to 2027.

Market Insight
ePrison solutions help administrators of correctional homes & prisons to get real-time access to information about staff and prison inmates, thereby helping to ensure discipline, safety, and gauge the needs of inmates. The use of these solutions is not only limited to confining prisoners from committing crimes, but also helping them to reform, rehabilitate and allow prison caregivers to streamline their daily prison operational. Initiatives taken by governments around the world to modernize / digitalize correctional homes and prisons are a key driver of demand for ePrison solutions. Advances in policing strategies & technology adoption by public safety & law enforcement agencies has improved their operational efficiency. This, coupled with strict sentencing laws, has led to an increase in the number of prisoners, the length of the prison sentence and the actual length of time served by prisoners. All of these factors are and will continue to drive ePrison solutions, contributing to the expected CAGR (6.2%) over the forecast period from 2019 to 2027.

Get sample copy of report here: https://www.credenceresearch.com/sample-request/59717

In terms of offering, the value contribution of hardware infrastructure was greater than software solutions. However, software solutions are presumed to register superior growth, generating steady revenue stream during the forecast period from 2019 to 2027. This growth can be largely accredited to the growing adoption of cloud-based solutions among prison administrators. The surge in adoption of cloud-based software solutions is a result of the growing awareness among prison administrators regarding the benefits offered in terms of limited IT infrastructure requirement, maintenance cost, and licensing fees. On the other hand, prison administrators in developing economies are still heavily dependent on on premise installations that offer administrators a complete control over critical and confidential prison data.

Video surveillance & conferencing remains the most attractive application field, attracting heavy investments. This can be attributed to the combination of factors including technology advances and rise in the number of illicit incidents involving drug use, inmate violence, and officer misconduct within prison walls. In the coming years, the demand for e-prison solutions in Asia Pacific, especially in India and SEA countries will surge on the back of governments' initiatives towards developing digital public infrastructure

Report originally published at Credence Research: https://www.credenceresearch.com/report/eprison-market

Segmentation
Offering Segment (2017-2027; US$ Bn)
o Hardware
o Software
o On-premise
o Cloud-based

Application Segment (2017-2027; US$ Bn)
o Video Surveillance & Video Conferencing
o Access Control
o Prison Information Management
o Prison Administration
o Others (Intrusion Detection, etc.)

Geography Segment (2017-2027; US$ Bn)
o North America (U.S., Rest of North America)
o Europe (U.K., Germany, France, Rest of Europe)
o Asia Pacific (China, Japan, India, Rest of Asia Pacific)
o Rest of the World (Middle East & Africa, Latin America

Some of the major companies profiled in the report include Axis Communications AB, Cisco Systems Inc., Bosch Security and Safety Systems, Huawei Technologies Co., Ltd., Fujitsu, IBM Corporation, NEC Corporation, Montgomery Technology, Inc., Tyler Technologies Inc., and Thales Group among others.

Get sample copy of report here: https://www.credenceresearch.com/sample-request/59717

Name: Chris Smith
Address: 105 N 1st ST #429,
SAN JOSE, CA 95103 US
(US/CANADA) Ph.: +1-800-361-8290
E-mail: sales@credenceresearch.com

Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.

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