Press release
Electronic Security Market Growth and Trends 2021-2024 | Key Players are ADT, ASSA ABLOY Group, Axis Communications, Bosch Security and Safety Systems, FLIR Systems, G4S, Johnson Controls, Smiths Detection
Electronic Security Market
The tremendous expansion of electronic security market worldwide has been highly unprecedented over the past few years. Indispensability of installing the electronic security systems in the commercial and residential areas has gained massive traction perhaps attributing to the burgeoning instances of terror incidents, break-ins, thefts, vandalism, smuggling, and industrial disasters among various others.
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The worldwide electronic security market from the custom service segment is forecast to perform exceptionally well in the near future on the accounts of an upsurge in the cross border drug smuggling and human trafficking, packaged in normal settings. It has been claimed that the illegal contrabands are stored in packages or placed inside the body cavities without much knowledge to the border security.
Speaking of the commercialization potential of electronic security market, the overall business space is claimed to record a valuation of USD 60 billion by 2024, as estimated by Global Market Insights, Inc. The proposed figure is reportedly more than double of the market valuation of 27 billion in 2016. Favorable governmental legislations across the globe is expected to gradually mandate deployment of safety and security solutions in majority of the sectors. For instance, in Karnataka, one of the prominent states in India, it is now compulsory to install CCT
Regionally, Asia Pacific observes a strong foothold in the global electronic security industry share. The primary reason behind APAC to become the hotspot for electronic security market investors is the real and perceived concerns regarding social unrest and economic growth across this belt.
Uptick in industrialization, increasing disposable incomes of the middle-class population, tightened security procedures across airports and malls, and smart city phenomenon are some of the other driving factors, which are expected to result in market specific consumption and would impel APAC electronic security industry share. Another standout issue that has complemented electronic security market growth in APAC belt is the increasing prevalence of religious conflict especially in India, that has remarkably upscaled installation of advanced surveillance equipment in risk prone areas, such as airports.
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The global electronic security industry has been exceedingly competitive with the prominent firms like Honeywell International Inc., ADT LLC, OSI Systems, Auto Clear LLC, BOSCH Security Systems, to name a few. The collaborations and acquisitions with the distinguished companies is reflected to boost the business expansion in the ensuing years. This breakthrough was accomplished by the OSI Systems, Inc., which in mid-2017 announced completing its acquisition of Morpho global explosive trade-detection business from the Smiths Group PLC for a trade value of $75.5 million.
Partial Chapter of the Table of Content
Chapter 4. Electronic Security Market, By Product
4.1. Market share by product, 2016 & 2024
4.2. Access and control system
4.2.1. Market estimates and forecasts, 2013 - 2024
4.3. Surveillance and alert system
4.3.1. Market estimates and forecasts, 2013 - 2024
4.4. Anti-theft system
4.4.1. Market estimates and forecasts, 2013 - 2024
4.5. Antiterrorist and inspection equipment
4.5.1. Market estimates and forecasts, 2013 - 2024
4.6. Others
4.6.1. Market estimates and forecasts, 2013 – 2024
Chapter 5. Electronic Security Market, By Application
5.1. Security system electronics market share, by product, 2016 & 2024
5.2. Environmental
5.2.1. Market estimates and forecasts, 2013 - 2024
5.3. Public sector
5.3.1. Market estimates and forecasts, 2013 - 2024
5.4. Custom service sector
5.4.1. Market estimates and forecasts, 2013 - 2024
5.5. Postal
5.5.1. Market estimates and forecasts, 2013 - 2024
5.6. Telecommunications
5.6.1. Market estimates and forecasts, 2013 - 2024
5.7. Residential
Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/electronic-security-market
Contact Us
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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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