Electronic Security Market Size By Product (Access & Control System, Surveillance & Alert System, Anti-Theft System, Antiterrorist & Inspection Equipment), By Application (Environmental, Public Sector, Custom Service Sector, Postal, Telecommunications, Residential), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2017 - 2024

Published Date: Oct 2017  |  Report ID: GMI2132  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 290   |   Base Year: 2016




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Electronic Security Market size surpassed USD 27 billion in 2016 and is poised to grow at over 10% CAGR between 2017 and 2024. Increasing instances of property thefts and break-ins across the globe is a major factor contributing to the market growth.

 

electronic security market

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The occurrence of terrorist activities such as contraband smuggling, shoot-outs, and bombings in high risk locations such as government headquarters, trade centers, malls, and transit locations are leading to massive losses of human life and financial property. In addition, the rising inclination of the government of various economies towards safety of the public transportation systems and its smooth functioning will also offer impetus to the electronic security industry demand.
 

Electronic Security Market Report Coverage
Report Coverage Details
Base Year:2016
Market Size in 2016:27 Billion (USD)
Forecast Period:2017 to 2024
Forecast Period 2017 to 2024 CAGR:10%
2024 Value Projection:60 Billion (USD)
Historical Data for:2013 to 2016
No. of Pages:290
Tables, Charts & Figures:160
Segments covered:Product, Application and Region
Growth Drivers:
  • Rising instances of property theft and break-ins in the U.S
  • Growing penetration of home security solutions in the UK
  • High risks associated with the terrorist attacks in U.S India and Europe
  • Growing trend of automation and smart technology in the Asia Pacific
  • Technological advancements in security electronics in Asia Pacific and the U.S
  • High demand for wireless and contactless technologies in the U.S. and UK
Pitfalls & Challenges:
  • High costs associated with security system electronics
  • Lack of technical knowledge to use the security systems

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Market by Product

Antiterrorist & inspection equipment segment is anticipated to experience substantial growth through 2024 owing to increasing awareness among the governments and customers regarding security against attacks such as the Fort Lauderdale and Bishop International Airport attacks. The growth of cross-border illegal drug trade and violent acts of terrorism across the world is fueling the demand for the growth of anti-terrorist equipment such as baggage screeners and complete body scanners.
 

The demand for access and control systems in the electronic security market is projected to exhibit high revenues on account of growing use of automated gates & barriers and turnstiles on the roads and airports. Innovations such as voice activated devices and integration with the connectivity technologies such as Bluetooth is expected to increase adoption from the residential application of these systems.
 

Market by Application

Public sector applications account for the largest market revenue share. Public spaces such as roads, experiencing heavy traveler traffic, are highly susceptible to terror attacks. The presence of such equipment integrated with advanced software such as face, or license plate recognition software is instrumental in the identifying the criminals post-attack.
 

Proliferation of smart home devices and consumer demand to safeguard property and financial assets is predicted to drive the market demand in the residential sector. For instance, Kwikset launched a lock that can be activated through Siri voice commands and connects to Apple devices via Bluetooth. The rising trend of smart technologies and wireless systems is further influencing the market growth.
 

Market by Region

In the Asia Pacific region, real and perceived concerns about social unrest and economic growth is contributing to the market revenue. Industrialization boom has led to an increase in the disposable income of the middle-class population. Consumers are now able to afford luxury and high-priced goods that were previously unattainable.
 

The North America electronic security market size is expected to grow at an exponential rate during the forecast period impelled by increasing budget spending by the governments of U.S. and Canada. The trend of integrating biometrics, smart cards, and other non-contact technologies with the existing systems is expected to drive growth. Proliferation of wearable technology, advanced sensors, and voice-enabled devices is anticipated to positively impact the market size.
 

Competitive Market Share

Some of the vendors in the market include Auto Clear LLC, G4S PLC, Lockheed Martin Corporation, FLIR Systems, Inc., Bosch Security Systems, Axis Communications, Hitachi Ltd, IBM Corporation, Siemens AG, Thales Group, and OSI Systems, Inc. The industry is highly competitive with organizations undertaking business strategies such as product innovations, mergers and acquisitions, and high investment in marketing and advertising.
 

The market research report on electronic security includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
 

By Product

  • Access and Control Systems
  • Surveillance and alert system
  • Anti-theft system
  • Antiterrorist and inspection equipment
  • Others

By Application

  • Environmental
  • Public sector
  • Custom service sector
  • Postal
  • Telecommunications
  • Residential
  • Others

The above information has been provided on a regional basis for the following:

  • North America
    • U.S
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • South Africa
       

Frequently Asked Questions (FAQ) :

The market size of electronic security surpassed USD 27 billion in 2016.
The industry share of electronic security is poised to grow at over 10% CAGR till 2024.
Antiterrorist and inspection equipment find high cognizance across government and customers operating in field of security, contributing massively towards security on the whole.
Asia Pacific is likely to hold a major share of electronic security systems on account of burgeoning automation trends and technological advancements in security electronics.
Some of the key vendors in the market include Auto Clear LLC, G4S PLC, Lockheed Martin Corporation, FLIR Systems, Inc., Bosch Security Systems, Axis Communications, Hitachi Ltd, IBM Corporation, Siemens AG, Thales Group, and OSI Systems, Inc.

Premium Report Details

  • Published Date: Oct 2017
  • Pages: 290
  • Tables: 120
  • Charts / Figures: 40
  • Companies covered: 50
  • Countries covered: 16

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