Speaking of the regional growth distribution of electronic security market, 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.
The growing trend of IoT and connected systems is causing security to become a prime area of concern and leading to the high adoption of electronic security market. Everyday consumer products, such as fridges and coffee machines, are increasingly equipped with computer chips that can be hacked into to extract sensitive customer information and understand the user’s behavior pattern. Technology such as the Samsung smart TV for instance has major security issues since Tizen OS can be easily hacked into by external parties. To improve security provided to homes, vendors in the electronic security industry are increasingly providing smart solutions such as intelligent door locking systems and facial recognition sensor technology for refrigerators.
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The overwhelming expansion of the electronic security market across the globe has been unprecedented. The indispensability of deploying electronic security systems in commercial and residential areas has become increasingly pronounced in the recent past owing to the increased number of terror incidents, break-ins, property thefts, mishaps in public transportation setups, smuggling of contraband, growing social unrest, and industrial disasters among others.
Segmentation of the electronic security market by product indicates that the antiterrorist and inspection equipment is anticipated to grow during the forecast timespan owing to their applications in airports, commercial units, and the residential sector. Systems such as metal detectors, X-ray inspection machines, and turnstile & revolving doors can be easily deployed at low cost or on rent basis and are instrumental in dissuading criminals carrying explosives and armaments from threatening the safety of the general population.
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 electronic security industry has been highly competitive with reputed firms such as IBM Corporation, Bosch Security Systems, Thales Group, Siemens AG, Lockheed Martin Corporation, Axis Communications, Auto Clear LLC, Hitachi Ltd, G4S PLC, OSI Systems, Inc., to name a few. The upcoming electronic security providers like Zicom and Gemalto, which collaborate with banks and governments across various regions of the world are forming a strong framework to disrupt the electronic security market in a positive way. The mergers and acquisitions, technological advancement, alliances and growing collaboration of private sector with the governmental agencies will fuel the sustained growth of the electronic security industry.
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Major Key Points from Table of Content:
Chapter 4. Electronic Security Market, By Product
4.1. Electronic security industry 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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