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...