Market Research Future published a research report on “Global Electronic Security System Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Pune, India -- (SBWIRE) -- 10/10/2017 -- Market Synopsis of Electronic Security System Market
Electronic security system is electronic equipment which performs security operations such as surveillance, access control, alarming or an intrusion control to a facility or an area enabled with a power backup. It serves many application fields such as home automation, commercial, industrial, medical, and transportation.
The key drivers contributing to the growth of the global Electronic Security System Market are raising incidents of security concerns, improvement in network infrastructure & broadband services and rising demand for technologically advanced security products by end-users among others. Further, the increasing investments towards the development of the smart cities around the world are increasing the demand for advanced electronic security services as it provides faster, real-time data for improved safety and security solutions to the consumers. Other factors driving the growth of the market are strong demand for CCTV & video surveillance system and rising government investments in security projects. However, the restraining factors towards the growth of the global electronic security system market are privacy issues, lack of consumer awareness and high cost of electronic security systems.
Among its various end user sectors, BFSI and healthcare is the major contributors to the market majorly to prevent violation in the hospitals to provide safe and secure healthcare environment and also to provide physical protection of assets
The global electronic security system market is expected to reach USD ~59 billion by the end of 2022 growing with ~30% CAGR during forecast period 2016-2022.
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The global electronic security systems market is poised to reach at market size of USD ~59 billion by end of year 2022 growing with ~30% CAGR. The growth in the electronic security systems market is driven by the increasing smart cities, rising incidents of security concern, improvement in network infrastructure and technologically advanced security products. Further, the rising demand for CCTV cameras & video surveillance system and investments by government in security projects are boosting the growth of the global electronic security systems market in the upcoming future. However, the factors hindering the growth of the electronic security system market are privacy & security issues, high cost of electronic security systems and lack of consumer awareness.
The electronic security systems provides security solutions within work places, commercial places, shopping centers, railway stations and other public & private places. The system is also used for remote zone. They are utilized as access control systems, fire recognition, avoidance systems and attendance record systems.
This study provides an overview of the global electronic security systems market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast focusing on the market opportunities for the next five years for each region.
The key players of global electronic security system market report include 3D Datacom (U.S.) (Sweden), Bosch Security Systems (Germany), 3VR Security, Inc. (U.S.). (U.S.), Honeywell international Inc. (U.S.), A&B Security Group (U.S.) , Panasonic System Networks Co. Ltd (Japan), Sony Corporation (Japan), Schneider Electric (France), Cisco Systems, Inc. (U.S.) , A-TEC security system, Inc. (U.S.) and others.
The Global Electronic security system market has been segmented on the basis of type, end-users and region. By type, the market has been bifurcated into access control, intrusion detection, vehicle security and video surveillance. On the basis end-users, the market includes- healthcare, BFSI, residential, industrial and government. Further, the market has been segmented into four regions which include- North America, Europe, Asia-Pacific and Rest of the world (RoW).
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Market Research Future Analysis
The global electronic security system market is expected to grow significantly. The market is highly application basis. Commercial and government segment of electronic security systems globally drives the market due to high investments and security awareness. The market is expected to have higher growth rate as compared to the previous years.
North-America is the largest region for the electronic security systems market. However, Asia countries, especially China, India and Japan are expected to grow over the forecast periods. China is one of the leading manufacturer of electronic security systems thereby contributing in generating high revenue for electronic security system market. Also, growing civil infrastructure in this region boosting the overall growth of the market.
There has been a shift in the demand for security services from the developed nations to the developing nations in the last few years. North America accounted for the largest market share in electronic security system market majorly due to increasing safety awareness among industrial as well as residential end users. North American countries- especially U.S. accounted for the largest market share in global electronic security system market due to factors such as high adoption of the security technology by commercial and government end-users, growing focus on critical infrastructure protection, strict government regulations and advancements in the technological products in the region. Asian countries especially China is expected to be the fastest growing region during the forecast period 2016-2022, majorly being the manufacturing hub for the electronic security systems and also due to the increasing number of construction activities in the region.
- Electronic security system Manufacturers
- Research firms
- Consultancy firms
- Semiconductor Manufacturers
- Technology Investors
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