Selbyville, Delaware, Feb. 24, 2022 (GLOBE NEWSWIRE) --
Electronic security market size is anticipated to record a valuation of USD 90 billion by 2028, according to the most recent study by Global Market Insights Inc. The increasing occurrence of terrorist activities including contraband smuggling, shoot-outs, and bombings in high-risk locations, such as government headquarters, trade centers, malls, and transit locations, is a major factor contributing to the market growth.
The growing adoption of anti-theft systems across the automobile, retail, and residential sectors is predicted to support the market expansion. These systems are increasingly used in retail stores because of the increasing incidences of thefts and misplaced goods. The extensive urbanization and industrialization are major factors boosting the usage of anti-theft systems.
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The cloud segment in the electronic security market is poised showcase 10% growth rate through 2028 due to the growing acceptance of cloud services to reduce the cost of ownership and allow customers to invest in maintaining & supporting their infrastructural developments that are required to offer a high-quality electronic security system. Furthermore, companies rely on cloud-based infrastructures for their business processes, which will foster the demand for electronic security services during the forecast period.
The electronic security market for cellular segment is expected to witness a substantial revenue share by 2028 owing to the increasing penetration of 4G LTE networks across the world. This cellular network helps enterprises to track their valuable assets in remote locations and improves their operational efficiency. The cellular network is cost-effective and a reliable solution for customers to track their assets effectively.
The telecommunications segment is projected to grow at a significant rate during 2022 to 2028. There is an increasing need to monitor the company’s premises attributed to work confidential and intellectual data. Industry leaders in this sector are required to manage and safeguard huge & highly expensive physical assets such as towers, antennas, and data warehouse hardware.
Europe electronic security market accounted for USD 8 billion revenues in 2021. Increasing urbanization, smart cities, and development initiatives have resulted in the usage of security systems across the region. The European government is focusing on the promotion of digital identity in Europe.
Prominent players operating in the market are ADT Inc, ASSA Abloy, Autoclear LLC, AXIS Communications AB, AVA Group, BOSCH Security, Brivo, Inc., Fisher Research Laboratory, Frontier Pitts Ltd., G4S Limited, Honeywell International Inc., IDEMIA, Johnson Controls, Inc., Napco Security Technologies, Inc, OSI Systems Inc., Scanna MSC Ltd., Siemens AG, Teledyne FLIR LLC, Vanderbilt LLC, Westminster Group PLC, and Zod Security. Participants are focusing on strategic collaborations with government agencies to enhance their market position.
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Some major findings of the electronic security market report include:
- The rising government inclination toward the safety of the public transportation system and its smooth functioning in various economies will offer impetus to the market demand.
- Growing technology investments and rising digitization across multiple business sectors are set to support industry expansion during the forecast timeline.
- Rising concerns over the frequency of terrorist & smuggling activities in Europe have fueled the demand for safety and security electronics in the European market.
Table of Contents (ToC) of the report:
Chapter 3 Electronic Security Market Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Global outlook
3.3.2 By region
3.3.3 Industry value chain
3.3.4 Competitive landscape
3.4 Electronic security ecosystem analysis
3.4.1 Component suppliers
3.4.2 Manufacturers
3.4.3 System integrators
3.4.4 Distribution channels
3.4.5 End-users
3.4.6 Shareholder profit margin analysis
3.4.7 Vendor matrix
3.5 Electronic security evolution
3.6 Regulatory landscape
3.7 Technology and innovation landscape
3.7.1 Remote monitoring security systems
3.7.2 Intelligent door locking system
3.7.3 Biometric technology
3.7.4 License plate readers
3.7.5 Surveillance drones
3.7.6 IP network cameras
3.8 CCTV camera installation statistics, by top countries
3.9 Patent analysis
3.10 Investment portfolio
3.11 Industry impact forces
3.11.1 Growth drivers
3.11.2 Industry pitfalls & challenges
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
