The custom service segment of the electronic security market is anticipated to exhibit high growth. Cross border drug and human smuggling, packaged in normal settings, have undergone high growth in the recent years. Illegal contrabands can be stored in packages or placed in body cavities. The U.S government, for instance, is tightening their border security protocols along the southern border owing to increasing instances of drug trade.
The growing impact of smart technologies, biometrics, and home automation systems is anticipated to revolutionise the electronic security market. Technological advancements such as the development of remote access monitoring technologies allow homeowners to monitor surveillance cameras and sensors remotely with the aid of a mobile app or a web portal. Additionally, they can be armed and disarmed at will from remote locations at any time.
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According to a few trusted reports, the total cost of reported stolen property in the U.S. constituted to $12.42 billion in 2016. The two decades of 1995-2015 witnessed close to 2,500 incidents of theft of radioactive materials and trafficking, according to a report by The International Atomic Energy Agency (IAEA). The electronic security market has been gearing up to tackle the growing concerns of security and safety across all domains. The upcoming electronic security firms seem to be aware of the need to become proactive rather than being reactive to the perceived threats and probable incidents leading to loss of human life and weakening of financial assets.
Speaking of the regional growth distribution of electronic security industry, the North America electronic security market is set to expand at a commendable pace owing to its security infrastructure, awareness related to safety and the growing spending by the governments of U.S and Canada. The Asia Pacific region will continue to grow as the economic surge, uptick in industrialization and increasing awareness contribute to the soaring electronic security industry demand.
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Electronic security market players include ADT LLC, Honeywell International Inc., G4S PLC, ASSA ABLOY Group, Frontier Pitts, Ltd., Auto Clear LLC, Hitachi Ltd, and BOSCH Security Systems. The industry comprises of a large number of players owing to which companies are required to undertake strategies such as product innovations and mergers to sustain growth in the electronic security market.
Some Point from Table of Contents:
Chapter 4. Electronic Security Market, By Product
4.1. Electronic security market share by product, 2016 & 2024
4.2. Access and control system
4.2.1. Market estimates and forecasts, 2013 – 2024
4.3. Surveillance and alert system
4.3.1. Market estimates and forecasts, 2013 – 2024
4.4. Anti-theft system
4.4.1. Market estimates and forecasts, 2013 – 2024
4.5. Antiterrorist and inspection equipment
4.5.1. Market estimates and forecasts, 2013 – 2024
4.6.1. Market estimates and forecasts, 2013 – 2024
Chapter 5. Electronic Security Market, By Application
5.1. Security system electronics market share, by product, 2016 & 2024
5.2.1. Market estimates and forecasts, 2013 – 2024
5.3. Public sector
5.3.1. Market estimates and forecasts, 2013 – 2024
5.4. Custom service sector
5.4.1. Market estimates and forecasts, 2013 – 2024
5.5.1. Market estimates and forecasts, 2013 – 2024
5.6.1. Market estimates and forecasts, 2013 – 2024
5.7.1. Market estimates and forecasts, 2013 – 2024
5.8.1. Market estimates and forecasts, 2013 – 2024
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