Global Electronic Security Systems Market : Market Analysis by Knowledge Sourcing Intelligence
The electronic security systems market is expected to reach US$72.054 billion by the end of 2023, increasing from US$37.870 billion in 2017, growing at a CAGR of 11.32% during the forecast period. Electronic security systems make use of a number of equipment including sensors, detectors, control panels, fire alarm systems and communication devices among many others to safeguard the premises. Security concerns posed by major companies and rising number of SME across the globe are driving the demand for these sensors. In addition, growing disposable income in the Asia Pacific region and adoption of these systems in the developed regions will add to the demand for these systems. Increasing investment by major companies to develop new and advanced security solutions is further projected to propel the demand for electronic security solutions worldwide. Furthermore, increasing number of smart cities projects and rising government investment towards converting cities into smart cities is expected to boost the demand for electronic security systems in the coming years.
Global Electronic Security Systems Market by Geography:
By geography, the electronic security systems market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. The growing trend of urbanization and significant increase in investments for the development of infrastructure is projected to drive the Asia Pacific electronic security systems market. Simultaneously, the heightened perceived risk of crimes is expected to drive the electronic security systems market in North America while the growing demand for connected security solutions is anticipated to drive the Europe electronic security systems market rapidly during the forecast period. The market research of global electronic security system market provides a detailed analysis on the basis of various segment like- by geography, by type etc.
Global Electronic Security Systems Market by Type:
By type, the electronic security system market has been segmented as CCTV surveillance security system, alarming system, access control, and others. CCTV surveillance security systems holds a major share in this market on account of rising awareness regarding their benefits even among small business owners and improving affordability of these systems. Rapid growth of IoT and increasing integration of advanced technologies into them is also supporting the growth of the market in this segment. Alarming systems and access control systems also hold a significant share in this market.From VCR to IP megapixel, the CCTV camera technology has witnessed a massive evolution over the past 18 years. The next generation CCTV surveillance security systems are witnessing integration of many advanced technologies to enhance the capabilities of these systems. For instance, NNT East, one of the major Japanese telecom giants, and Earth Eyes Corp have built an AI-based security cam named AI Guardman to spot potential troublemakers in stores in Japan.
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global electronic security systems market size
For our Information Communication and Technology coverage:
global electronic security systems industry trends
Advancements are enhancing the capabilities and reliability of such solutions, thus boosting their adoption among end users. This is augmenting the growth of the market.
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| Sample view of Global Electronic Security Systems Market Forecast |
Global Electronic Security Systems Market by Geography:
By geography, the electronic security systems market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. The growing trend of urbanization and significant increase in investments for the development of infrastructure is projected to drive the Asia Pacific electronic security systems market. Simultaneously, the heightened perceived risk of crimes is expected to drive the electronic security systems market in North America while the growing demand for connected security solutions is anticipated to drive the Europe electronic security systems market rapidly during the forecast period. The market research of global electronic security system market provides a detailed analysis on the basis of various segment like- by geography, by type etc.
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| Sample view of Electronic Security Systems Market Share by Geography |
Global Electronic Security Systems Market by Type:
By type, the electronic security system market has been segmented as CCTV surveillance security system, alarming system, access control, and others. CCTV surveillance security systems holds a major share in this market on account of rising awareness regarding their benefits even among small business owners and improving affordability of these systems. Rapid growth of IoT and increasing integration of advanced technologies into them is also supporting the growth of the market in this segment. Alarming systems and access control systems also hold a significant share in this market.From VCR to IP megapixel, the CCTV camera technology has witnessed a massive evolution over the past 18 years. The next generation CCTV surveillance security systems are witnessing integration of many advanced technologies to enhance the capabilities of these systems. For instance, NNT East, one of the major Japanese telecom giants, and Earth Eyes Corp have built an AI-based security cam named AI Guardman to spot potential troublemakers in stores in Japan.
Request Free Sample or Download the report:
global electronic security systems market size
For our Information Communication and Technology coverage:
global electronic security systems industry trends
Advancements are enhancing the capabilities and reliability of such solutions, thus boosting their adoption among end users. This is augmenting the growth of the market.
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