Global Electronic Security Market Analysis and Forecast 2023-2029

22-01-2024: Market Values:

The Global Electronic Security Market, valued at US$ 44.41 Billion in 2022, is anticipated to grow at a robust CAGR of 10.2%, reaching nearly US$ 87.65 Billion by 2029.

Report Scope:

The comprehensive report covers the Electronic Security Market, analyzing various segments, including Product Type (Alarms, Video Surveillance Systems, Access Control Systems, Other Electronic Security Products), End-User (Defense, Manufacturing, IT, Automotive, Telecommunications, Residential, Public Sector, Others), Connectivity (Ethernet, Wireless, Cellular), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America). The report provides insights into market dynamics, drivers, restraints, opportunities, and challenges, along with a detailed analysis of key players.

Research Methodology:

The report employs a thorough research methodology, combining quantitative and qualitative analysis. It includes data provided by market players, regional analysis, and specific requirements. The study discusses the Electronic Security market's drivers, restraints, opportunities, and challenges, providing a comprehensive overview of significant improvements prevailing in all market segments.

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Market Drivers:

The growing need to protect personal and business assets globally, coupled with technological advancements, is driving the demand for electronic security solutions. Benefits include asset protection, improved workplace safety, conflict resolution, theft control, and easy monitoring of high-risk areas. Immediate security updates through mobile devices and increased adoption of cloud-based services are contributing to market growth.

Market Restraints:

High installation and maintenance costs, coupled with concerns about privacy and lack of consumer awareness, pose challenges to the global electronic security market. The need for routine maintenance and centralized systems contributes to high maintenance costs, while privacy concerns may hinder market growth.

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Segment Analysis: Powder-Free Dominance and Medical Sector Surge:

by Product Type
Alarms
Video surveillance systems
Access control systems
Other electronic security
products

Over the projection period, the video surveillance product category is anticipated to increase at a compound annual growth rate (CAGR) of 10%, driven primarily by rising investments in the deployment of surveillance camera technologies. In the United States, the use of surveillance and alarm systems is growing in public areas such as airports, bus stations, and malls. Different types of closed-circuit televisions are available to fulfil the requirements of different applications, including video analytics, ANPR systems, HD CCTV, and analogue CCTV. The advanced operating capabilities of these electronic security systems are anticipated to boost market expansion.

by End-User
Defense
Manufacturing
IT
Automotive
Telecommunications
Residential
Public Secor
Other

According to connection, throughout the course of the projected period, the ethernet connectivity segment is expected to hold 40% of the market share. Modern electronic security systems, which include security cameras, employ Ethernet connections to transmit digital data to host computers. Furthermore, several companies in the sector have developed electronic security systems that manage data transfer and power flow via Power-over-Ethernet (PoE) technology.

by Connectivity Ethernet
Wireless
Cellular

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Who are Electronic Security Market Key Players?

1. ADT LLC
2. Allegion plc
3. ISONAS
4. ASSA ABLOY AB
5. HID Global
6. Axis Communications AB
7. BIO-key, International, Inc.
8. Bosch Security Systems
9. Brinks Home Security
10.Chamberlain Group, Inc.
11.CP PLUS GmbH & Co. KG
12.Dahua Technology Co., Ltd.
13.DoorKing, Inc.
14.dormakaba Holding AG
15.Fermax Electronica S.A.U.

Table of content for the Electronic Security Market includes:

Part 01: Executive Summary

Part 02: Scope of the Electronic Security Market Report

Part 03: Electronic Security Market Landscape

Part 04: Electronic Security Market Sizing

Part 05: Electronic Security Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Perspectives: North America and APAC Leading the Way:

North America's Dominance: In 2023, North America held a market share of over 35.2%, driven by a robust healthcare sector and increasing industrial activities. Electronic Security have become a staple in hospitals, clinics, and households, with rising awareness among individuals about the importance of cleanliness.

APAC Growth Trajectory: The Asia-Pacific region is a significant contributor, experiencing a rising demand for Electronic Security due to a growing population and increased healthcare needs. The region serves as a major production hub, with governments encouraging hygiene practices and driving adoption.

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