Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The "Electronic Security Systems (ESS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Electronic Security Systems (ESS) Market to Reach US$61.3 Billion by the Year 2026
Growth in the ESS market will be driven by the critical need to safeguard people, resources, and infrastructure amid escalating security concerns, and the convergence of IT and mobile technology with security systems.
Propelled by ever-increasing security concerns, demand for electronic security systems (ESS) such as alarms, electronic access controls systems (EACS) and CCTV and video surveillance systems, among others, is witnessing significant increase. Rise in terrorist attacks, vandalism, campus violence, and the resultant need for personal safety, and security at public places such as transits, city centers, educational institutions, as well as borders is driving growth in the ESS market.
Other factors responsible for the strong evolution of the market over the years include heightened levels of fear over security among individuals, stringent regulatory mandates, increase in new building constructions, and surging demand for technologically superior yet cost effective products. Rising focus on the development of smart cities in several countries across the world has been another major growth driver for the global market.
Amid the COVID-19 crisis, the global market for Electronic Security Systems (ESS) estimated at US$43 Billion in the year 2022, is projected to reach a revised size of US$61.3 Billion by 2026, growing at a CAGR of 7.8% over the analysis period.
The U.S. Market is Estimated at $11.1 Billion in 2022, While China is Forecast to Reach $9.3 Billion by 2026
The Electronic Security Systems (ESS) market in the U.S. is estimated at US$11.1 Billion in the year 2022. The country currently accounts for a 25.97% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$9.3 Billion in the year 2026 trailing a CAGR of 9.3% through the analysis period.
Big Data & Edge Analytics for Video Surveillance to Revolutionize Performance
Big data and edge analytics are making a big splash in the video surveillance arena as they bring new features and unleash possibilities for elevating overall performance of these systems. Rising attention on big data across different industries has also impelled companies serving the video surveillance domain to bet on the approach. Big data holds a significant role in enabling security managers to keep an eye on data-related trends and associated insights that can be leveraged for prompt response and system improvements.
Video surveillance powered by big data is poised to find numerous takers across industries, including retail, where several companies are eying on security-focused video surveillance along with solution to monitor consumer behavior. The increasing proliferation of IoT-powered sensors that are driving huge data volumes is expected to impel companies in various industries to tap the data for understanding customers and securing assets. Big data-based surveillance is anticipated to transform industries with sophisticated security systems and critical assets.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Smart City & Smart Home Security and Surveillance Emerge to Provide New Opportunities for Growth
- Rise of Smart Homes & Home Automation to Offer Growth Opportunities on a Platter
- Smart Homes Emerge as a Disruptive Trend Enhancing Lives of Homeowners & Also Creating New Market Opportunities for Smart Security Technologies & Solutions
- Increased Focus on Border Control & Security Opens New Growth Opportunities for Perimeter Intrusion Detection Systems
- Criminalization of Migration Drives Growth of PID in the Perimeter Security Market
- Crackdown on Illegal Immigration Pushes Up the Demand Momentum for PID Systems in Border Security
- Smart Locks & Video Doorbells Grow in Popularity
- Smart Locks Emerge as the Leading Growth Category in the Access Control Systems Segment
- Technology Innovations in the Smart Locks Space: A Review
- Video Doorbells Grow in Demand Among Smart Home Owners
- Critical Infrastructure Protection, a Major Application Area for ESS
- Strong Demand for Networked IP Surveillance Cameras Emerge as a Key Trend in the Market
- Growing Popularity Wireless Electronic Security Systems to Boost Market Prospects
- Biometrics Based ESS Goes Mainstream
- Frictionless Face and Iris Recognition Technologies to Take Over Fingerprint Biometrics
- AI to Revolutionize Electronic Security. Here's How
- Drones Security & Surveillance Rises in Prominence
- Integration of Security Systems with Mobile Technology
- Blockchain Based Management of Video Surveillance Rises in Prominence
- IoT Reshapes the Future of Video Surveillance
- Cyber Security Issues in IP Video Surveillance Storms Into the Spotlight
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Companies Mentioned
- ADT LLC
- Allegion plc
- ISONAS
- ASSA ABLOY AB
- HID Global
- Axis Communications AB
- BIO-key, International, Inc.
- Bosch Security Systems
- Brinks Home Security
- Chamberlain Group, Inc.
- CP PLUS GmbH & Co. KG
- Dahua Technology Co., Ltd.
- DoorKing, Inc.
- dormakaba Holding AG
- Fermax Electronica S.A.U.
For more information about this report visit https://www.researchandmarkets.com/r/e3c4xz
