Electronic Security Market Research Methodologies Offers High Business Outlook growth 2022-2027

The Electronic Security Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Electronic Security market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Electronic Security market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Electronic Security market.

The Electronic Security Market was valued at USD 40.93 billion in 2020 and is expected to reach USD 68.57 billion by 2026, at a CAGR of 8.98% over the forecast period from 2021 to 2026. 

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Top Leading Companies of Electronic Security Market are - Axis Communications AB, Bosch Security Systems Inc., Honeywell International Inc., Tyco Security Products (Johnson Controls International Plc), Checkpoint Systems Inc., FLIR Systems Inc., ADT Security Services Inc., Siemens AG, IBM Corporation, Hangzhou Hikvision Digital Technology Co. Ltd, MOBOTIX AG, Allegion PLC and others.

Industry News and Updates:

- April 2020 - Bosch announced the upcoming release of INTEOX, a new camera platform the company calls the first fully open platform of its kind. To take full advantage of the opportunities available by leveraging the Internet of Things (IoT), the Bosch announcement states the security industry must embrace change. The company says it is demonstrating the vast potential of the IoT with INTEOX.

- January 2020 - Johnson Controls announced that its Tyco Software House C-CURE 9000 v2.8 and Tyco American Dynamics victor 5.4.1 are the first platforms to be officially certified as meeting new third-party security standards from Underwriters Laboratories for on-premise commercial security systems. UL- 2610, which provides rules for Commercial Premises Security Alarm Units and Systems, updates the requirements for this technology to include cybersecurity provisions and cloud functionality.

Key Market Trends:

Surveillance Security System is Expected to Hold Major Share

- Governments are investing in tackling the rising rate of crimes globally. The implementation of mass surveillance systems has helped in tracking the suspects for crimes. The use of a License Plate Reader (LRP) on the roads is rising in response to unsafe driving. According to the NHTSA 2018 report, for more than two decades, speeding has been the reason for approximately one -third of all motor vehicle fatalities. In February 2019, the US government released a strategy for surveillance and control of travel. This strategy includes the surveillance of all movements of a person by collecting as much information as possible, especially biometric and biographic. The deployment of this act will increase the demand for the electronic security market in the region.

Asia-Pacific to witness Fastest Growth

- Asian governments are spending on initiatives to make their respective countries more secure. The development of smart cities is one of the vital segments of infrastructural developments, with the application of surveillance systems, alarming systems, and access controls. China planned to invest billions of dollars in mass surveillance projects each year. This project aimed at using advanced face detection technology and algorithms for tracking the 1.4 billion population with the usage of approximately 200 million surveillance cameras. These cameras will help to monitor the social behaviour of the population where the government planned in releasing a social credit score for every individual by the year 2020. This project is driving the growth of the electronic security market in the region.

Investigator Observers Strong Growth in Specific Regions:

– Europe Market (Germany, UK, France, Russia, Italy)

– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)

– South America Market (Brazil, Argentina, Colombia)

– North America Market (United States, Canada, Mexico)

– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).

The Latest Industry Data Included in this Report:
- Electronic Security Market Size & Analysis (2017 - 2027)
- Market Share Analysis of Electronic Security Market (%),2017 - 2027
- Electronic Security Market Share, By Brand
- Electronic Security Market Share, By Company
- Electronic Security Market Assessment & Opportunity (Value),2017 - 2027
- Major Companies Electronic Security Market Value Analysis & Forecast
- Promising Electronic Security Development by Major Companies
- Detailed Electronic Security Portfolio of the Major Companies
- Major Deals in the Electronic Security Market
- Major Companies Analysis

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