Electronic Security Market Analysis

Electronic Security Market Analysis

In the U.S., surveillance and alert systems in the electronic security market is expected to witness 10% growth rate through 2028 led by the increasing investments in the adoption of surveillance camera technology. Surveillance and alert systems are increasingly used in public places across the U.S. such as malls, bus stations, and airports. Variations in closed-circuit televisions, such as HD CCTV, analogue CCTV, ANPR systems, and video analytics, cater to requirements from several applications. The advanced operational capabilities of these electronic security systems are slated to support the overall industry growth.
 

In China, the cloud deployment segment is projected to reach USD 4 million by 2024. The expansive digitization and penetration of cloud-powered CCTV cameras across the country are set to augment the industry expansion. As per the data available till July 2021, Taiyuan, a Chinese city with an estimated number of 117 CCTV cameras per thousand people, was believed to be the most-surveilled city in the world in 2021. Among the top ten cities worldwide, eight were in China. These factors are poised to foster the demand for cloud-based electronic security solutions, further enabling the industry progression.
 

In the UK, the ethernet connectivity segment is predicted to account for 40% of the market share by 2028. The modern electronic security systems including surveillance cameras leverage ethernet connectivity to transmit the digital information to host computers. In addition, several enterprises in the market have developed electronic security systems with the support of Power-over-Ethernet (PoE) technology to manage both power flow and data transmission. The country is also showcasing substantial deployments of wireless surveillance systems.
 

In Israel, the public sector application segment is estimated to attain a CAGR of 15% till 2028. Theft of nuclear weaponry and radioactive products by unauthorized personnel for the creation of dirty bombs can lead to large-scale destruction. To avoid this, the installation of electronic security has become a norm in places such as nuclear facilities and medical & scientific laboratories across Israel. Electronic security equipment is expected to observe a significant acceptance by public security agencies due to installations in streets and heavy traffic roads, fueling the industry demand.
 

Asia Pacific electronic security market is poised to expand at more than 10% CAGR during 2022 to 2028. The increased demand to safeguard the national security from terrorist attacks is one of the major factors enabling the demand for electronic security solutions in the market. This demand is also propelled by the rising spending to protect the critical infrastructures such as airports, banks, trade centers, government headquarters, and enterprise facilities. Additionally, rapid urbanization and continuing globalization have increased the need for advanced security solutions across industry verticals, supporting the industry value.