iCrowdNewswire Jan 15, 2021 7:00 AM ET
The global electronic security system market is prompted to record ~30% CAGR during the forecast period, 2016-2022. The development in the market can be pragmatic with the rising factors from all corners of the globe. Market Research Future estimates the figures and reveals that the market will witness USD ~59 billion by the end of the year 2022.
Top Impacting Factors
The surging adoption of electronic security systems by commercial establishments, government agencies, manufacturing industries, and more is the most critical driver for the growth of the global electronic security system market. The ascend in malpractices, terrorist attacks, robbery, illegal activities, and similar activities have amplified the necessitate for security systems in private and public places that are likely to enhance the growth of the worldwide electronic security market. In fact, as online or internet crimes are rising, and it has resulted in the necessitate for internet monitoring systems, access systems, and IP based surveillance. Assorted government organizations have surged their spending on security systems.
Top Market Players
The top players of global electronic security system market report are listed as Bosch Security Systems (Germany), 3D Datacom (U.S.) (Sweden), Honeywell International Inc. (U.S.), 3VR Security, Inc. (U.S.), Panasonic System Networks Co. Ltd (Japan), A&B Security Group (U.S.), Schneider Electric (France), Sony Corporation (Japan), A-TEC security system, Inc. (U.S.) and Cisco Systems, Inc. (U.S.).
Segmentation of Market: Electronic Security System
The Global Electronic security system market has now been segmented among various segments of type and end-users.
- Among the type segment, the market is bifurcated into intrusion detection, access control, vehicle security, and video surveillance.
- Among the end-user segment, the market has included BFSI, healthcare, industrial, residential, and government.
Further, the global market of Electronic security systems has been studied among critical regions of Europe, North America, Asia-Pacific, and the Rest of the world (RoW).
There has been a modification in the demand for security services from the developed nations to the developing nations in the last few years. North America acquired the largest market share in the electronic security system market, mainly owing to rising safety awareness among industrial as well as residential end-users. North American countries, chiefly the U.S., grasped the largest market share in the global electronic security system market.
TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Electronic security system Market, By Segments
- Competitive Analysis
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