Press release
Electronic Security Market Is Expected To Reach US$ 85.2 Billion by 2028 - IMARC Group
Electronic Security Market
Industry Definition and Application:
Electronic security represents an integrated system of electric equipment that assist in securing workspaces, controlling internal theft, protecting investments, and monitoring high-risk areas to improve safety measures and protect human life as well as physical assets. It relies on power and mechanical components, such as surveillance through close-circuit televisions (CCTVs), access control, fire alarms, and intrusion control systems that aid in monitoring entry points and denying access to unauthorized individuals from entering specific areas or accessing stored information. Common functions performed by electronic security include access control, surveillance, and intrusion control. In addition, it is also used in business operations for safeguarding confidential data and tracking unauthorized access to business-related information and assets. As a result, electronic security is installed at commercial establishments, shopping centers, workplaces, railway stations, and public places.
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Electronic Security Market Trends and Drivers:
The escalating instances of thefts and burglaries and the rising concerns toward the safety and protection of confidential information in the banking, financial services, and insurance (BFSI) sector are among the primary factors driving the electronic security market. Besides this, the integration of artificial intelligence (AI) enabled audio-video surveillance, machine learning (ML), cloud-based, internet of things (IoT), multi-factor authentication, and advanced analytics aids in minimizing the impact of breaches and spotting potential criminals through facial recognition, which is further augmenting the market growth. Moreover, the increasing usage of electronic security in the healthcare industry for sharing information among patients and medical professionals and recording data without errors is also catalyzing the global market. Apart from this, the elevating requirement for this solution among private organizations to monitor the occurrence of terrorist activities, such as contraband smuggling, shoot-outs, and bombings in high-risk and sensitive locations, is anticipated to propel the electronic security market over the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
Competitive Landscape:
Axis Communications Canon Inc.
ADT Security Services Inc (Apollo Global Management Inc), LLC
Robert Bosch Stiftung GmbH
Teledyne Technologies Incorporated Hitachi, Ltd.
Honeywell International Inc.
International Business Machines Corp (IBM)
Johnson Controls International plc
Lockheed Martin Corporation
OSI Systems, Inc.
Siemens AG
Thales Group.
Breakup by Product Type:
Surveillance System
Access Control System
Intrusion Detection System
Alarming System
Others
Breakup by Service Type:
Installation Services
Managed Services
Consulting Services
Breakup by End-Use Sector:
Government
Residential
Transportation
Banking
Hospitality
Healthcare
Retail
Others
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Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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