Global Electronic Security Market 2016-2020
About Physical Security
Physical security refers to security measures that help to monitor and control access of an entity to premises, or equipment, or resources. These measures protect individuals and property from theft or attacks. Physical security involves the use of multiple layers of security products, such as surveillance systems, locks, and access control systems. It is mainly divided into two: electronic physical security and mechanical physical security. Electronic physical security is a system that is developed by integrating numerous entities as per end-users' requirements. This security system is a combination of various security equipment or solutions.
Technavio’s analysts forecast the global electronic security market to grow at a CAGR of 14.4% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global electronic security market for 2016-2020. This report provides a list of vendors that provide electronic security solutions across the globe. Vendors are identified based on their product features, geographical presence, customer base, and product portfolio.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electronic Security Market 2016-2020
Technavio recognizes the following companies as the key players in the global electronic security market: Axis Communications, Bosch Security Systems, Honeywell Security, and Tyco Security Products.
Other Prominent Vendors in the market are: ADT Security Services, A2 Systems, ALL-TAG Security Americas, Anixter, ASSA ABLOY, AxxonSoft, Checkpoint Systems, Delphi, FLIR Systems, Gallagher¸ Genetec, Hikvision Digital, Intergraph, Ketec, Lenel Systems, Nedap, NetVersant, Nortek Security, Panasonic, S2 Security, Salient Systems, Samsung Techwin, Siemens, and videoNEXT.
Commenting on the report, an analyst from Technavio’s team said: “Rising adoption of electronic security products by SMEs will be a key trend for market growth. Many SMEs, particularly in the manufacturing, retail, and banking sectors, are adopting electronic security products to protect their premises and data. SMEs generally do not possess the required skills or resources to evaluate security products or deploy, integrate, and manage the security infrastructure. Therefore, they opt for electronic security products to monitor and maintain security. SMEs also seek vendors' help to monitor the network in real time for unauthorized network intrusions and virus attacks. The high adoption of electronic security products by SMEs is therefore expected to drive the growth of the electronic security products market.”
According to the report, development of smart cities will be a key driver for market growth. Due to the emergence of several smart city campaigns and initiatives across the globe, electronic security has become a critical part of city’s core mandate as it has the ability to provide faster, real-time data for better safety and security standards. Furthermore, rising population and migration of people from rural to urban areas is attracting investments toward the development of smart cities. This is gaining more importance in countries such as China, India, and Qatar. The development of smart cities provides efficient transportation facilities, traffic management system, smart grids, good healthcare facilities, and advanced technology in the construction process.
Further, the report states that replacing analog cameras with new IP cameras will be a challenge for the market. Many retail shop owners are still using analog surveillance cameras in their stores, despite the introduction of new technologies such as the higher resolution and analytics offered by new IP cameras. However, replacing the older analog cameras with new IP cameras can be costly. The extended business hours of retail shops can make the installation a challenge as there will be no time to implement new video cameras and management systems in the shop. In yet another challenge, the old analog cameras may not integrate easily with IP video, incurring high costs for retail shop owners during the replacement process.
Axis Communications, Bosch Security Systems, Honeywell Security, Tyco Security Products, ADT Security Services, A2 Systems, ALL-TAG Security Americas, Anixter, ASSA ABLOY, AxxonSoft, Checkpoint Systems, Delphi, FLIR Systems, Gallagher¸ Genetec, Hikvision Digital, Intergraph, Ketec, Lenel Systems, Nedap, NetVersant, Nortek Security, Panasonic, S2 Security, Salient Systems, Samsung Techwin, Siemens, videoNEXT.
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