KEY FINDINGS Europe smart security market is anticipated to generate $ 211.74 billion by the end of the forecast period of 2017-2025, by expanding at a CAGR of 15.13%.
MARKET INSIGHTS The European Union’s initiatives for implementing external border management by means of an integrated approach is a major driver for this region. The continuous industrial automation, huge smart city projects, and increasing internet of things (IOT) applications are introducing the market to newer opportunities. The United Kingdom contributed to the maximum market share in the year 2016. However, France is expected to grow at the highest CAGR over the forecast period. The recent terror attacks in Paris have caused the French government to increase their expenditure on security machinery to combat the potential threats. However, a lack of interoperability and complexities related to data collection & management are challenging the market’s progress.
COMPETITIVE INSIGHTS Siemens Ag, International Business Machines (IBM), Intellivision Corporation, Cisco Systems, Thales Group, Ericsson Inc, Honeywell International Inc, Axis Communications Ab, Bosch Security Systems, Nedap N.V, Nice Systems Ltd, and Amano Mcgann Inc are some of the reputed companies in this market.