Global Electronic Security Market Projected to Surpass $79.48 Billion by 2029 with 8.4% Annual Growth

Which drivers are expected to have the greatest impact on the over the electronic security market's growth?
The electronic security market is anticipated to expand due to the escalating frequency of property thefts. Property theft, which is the unlawful confiscation of someone's personal belongings with the aim to deprive them of its usage, is on the rise due to factors such as the growth of organized crime groups, increasing poverty, substance abuse, and social inequality. Electronic security systems play a crucial role as they instantly alert property owners, authorities, or supervision centers the moment a security breach is detected, which facilitates fast responses such as getting in touch with the police or deploying security staff at the incident location. As per a report by the Federal Bureau of Investigation, a law enforcement agency based in the US, in October 2023, a 7.1% hike in property crime offenses was observed in 2022 compared to 2021. The rate for property crime incidents surged to an estimated 1,954.4 per 100,000 people, marking a 6.7% rise from the preceding year. Larceny theft represented the most substantial portion (71.7%) of property crimes in 2022, with burglary contributing a share of 13.8%. As such, the mounting instances of property theft are fueling the expansion of the electronic security market.

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What is the future CAGR of the electronic security market, and how will it impact industry expansion?
The size of the electronic security market has seen significant expansion in the prior years. Forecasts indicate a growth from $52.44 billion in 2024 up to $57.63 billion in 2025, with a compound annual growth rate (CAGR) of 9.9%. The growth experienced during the historical period is linked to the surge in security requirements, continuous digitalization, a growing trend of cyber threats, heightened awareness about safety and security, and an increasing demand for internet monitoring systems.

Anticipations are high for substantial expansion in the electronic security market within the coming years. Projections estimate the market scaling up to a value of $79.48 billion by 2029, with a compound annual growth rate (CAGR) of 8.4%. This anticipated upturn within the forecast period can be linked to several factors; the rise in property thefts, the escalation of robberies and domestic break-ins, the growth in organized crime, the augmented installation of video surveillance systems, and the burgeoning utilization of cloud-based access control solutions. Key trends that will likely shape this forecast period are technological progress, advancements in security, surveillance, and network offerings, an increase in investments within startup companies, ongoing innovations to address escalating security concerns, and integration with connectivity technologies such as Bluetooth.

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What trends are poised to drive the future success of the electronic security market?
Leading firms in the electronic security market are innovating by introducing cutting-edge technologies such as edge AI surveillance cameras to provide customers with enhanced functionalities. The edge AI cameras are embedded with inbuilt artificial intelligence processing features, allowing for localised operations within the cameras. For example, in February 2023, Idis, a South Korean electronic security systems manufacturer, unveiled a new easy-to-install range of edge AI cameras. The most recent camera range includes the Idis Deep Learning Engine, which is a proprietary development demonstrating the company's dedication to offering scalable security, safety and operational solutions. These cameras, such as the new 5MP dome (DC-D4537RXA and DC-D4537HRXA) and bullet (DC-T4537HRXA) models, are integrated with the robust Idis Deep Learning Engine, facilitating high-performance processing directly on the device. These cameras, boasting an up to 98% accuracy rate in object detection and categorisation, assist users in reducing false alerts, improving security and safety protocols, and increasing the effectiveness of their surveillance procedures, thus expanding the firm's range of high-definition Direct IP cameras adhering to the NDAA (National Defense Authorization Act).

Which key market segments comprise the electronic security market and drive its revenue growth?
The electronic security market covered in this report is segmented -

1) By Product Type: Alarms, Video Surveillance Systems, Access Control Systems, Other Product Types
2) By Connectivity: Ethernet, Wireless, Cellular
3) By End-User: Defense, Manufacturing, IT, Automotive, Telecommunications, Residential, Public Sector, Other End-Users

Subsegments:
1) By Alarms: Intruder Alarms, Fire Alarms, Gas Leak Detectors, Panic Alarms, Medical Emergency Alarms
2) By Video Surveillance Systems: CCTV Cameras, IP Cameras, Analog Cameras, Video Recorders, Video Management Systems (VMS)
3) By Access Control Systems: Card-Based Systems, Biometric Systems (Fingerprint, Iris, Facial Recognition), RFID Systems, Keypad Or Pin-based Systems, Wireless Access Control Systems
4) By Other Product Types: Perimeter Security Systems, Barrier Gates, Smart Locks, Intercom Systems, Security Drones, Security Lighting

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What regions are at the forefront of electronic security market expansion?
North America was the largest region in the electronic security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the electronic security market?
Major companies operating in the electronic security market are Siemens AG, Panasonic System Networks Co. Ltd., IBM Corporation, Honeywell International Inc., Johnson Controls International Plc, Tyco International Plc, Hangzhou Hikvision Digital Technology Co. Ltd., ADT LLC, Dahua Technology Co. Ltd., Allegion Plc, dormakaba Holding AG, Assa Abloy AB, Axis Communications AB, Bosch Security Systems Inc., Chamberlain Group Inc., HID Global, Brinks Home Security, Avigilon Corporation, Genetec Inc., Milestone Systems A/S, G4S PLC, Fermax Electronica S.A.U., CP PLUS GmbH & Co. KG, Autoclear LLC, DoorKing Inc., BIO-key International Inc., ISONAS Security Systems Inc., FLIR Systems Inc., Mobotix AG

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What Is Covered In The Electronic Security Global Market Report?

• Market Size Forecast: Examine the electronic security market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the electronic security market for a structured understanding.
• Key Players Overview: Analyze major players in the electronic security market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the electronic security market.
• Segment Contributions: Evaluate how different segments drive overall growth in the electronic security market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the electronic security market.
• Industry Challenges: Identify potential risks and obstacles affecting the electronic security market.
• Competitive Landscape: Review strategic developments in the electronic security market, including expansions, agreements, and new product launches.

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