The global electronic security market reached a value of US$ 53.5 billion in 2021. Looking forward, the market is projected to reach US$ 80 billion by 2027, exhibiting a CAGR of 6.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor.
Electronic security refers to a system of integrated electronic circuits that are used to ensure the physical security of an enclosed space. It is designed to deny access to unauthorized individuals from physically entering a building or accessing stored information. It uses both power and mechanical components, such as access control, surveillance through close-circuit televisions (CCTVs), fire alarms and intrusion control systems. It provides users with elaborate surveillance that enables them to monitor entry points and minimize both property damages and inventory losses by taking timely action. Owing to this, it finds extensive applications across various sectors, including residential, government, transportation, banking, healthcare, hospitality and retail.
Rapid urbanization, along with the increasing automation across industries, is one of the key factors driving the growth of the market. Furthermore, rising instances of property thefts and break-ins are acting as another major factor contributing to the market growth. Both government and private organizations are employing electronic security solutions to monitor the occurrence of terrorist activities, such as contraband smuggling, shoot-outs and bombings in high risk and sensitive locations. In line with this, the rising inclination of the authorities toward securing public transportation and infrastructures, such as power grids, water plants and oil and gas facilities, is also providing a boost to the market growth. Additionally, widespread adoption of electronic security systems in shopping malls, residential apartments and commercial buildings, is acting as another growth-inducing factor. Individuals are using these systems for access control, surveillance, fire detection, maintenance of attendance records and internet monitoring.
This report provides an analysis of the key trends in each sub-segment of the global electronic security market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on product type, service type and End-use sector.
The report has also analysed the competitive landscape of the market with some of the key players being Axis Communications (Canon Inc.), ADT Security Services Inc. (Apollo Global Management Inc.), Bosch Security Systems Inc., FLIR Systems Inc., Hitachi Ltd., Honeywell International Inc., IBM Corporation, Tyco International (Johnson Controls), Lockheed Martin Corporation, OSI Systems, Siemens AG, Thales Group, etc.
2. What is the expected growth rate of the global electronic security market?
3. What are the key factors driving the global electronic security market?
4. What has been the impact of COVID-19 on the global electronic security market?
5. What is the breakup of the global electronic security market based on the product type?
6. What is the breakup of the global electronic security market based on the service type?
7. What is the breakup of the global electronic security market based on the End-use sector?
8. What are the key regions in the global electronic security market?
9. Who are the key players/companies in the global electronic security market?
Electronic security refers to a system of integrated electronic circuits that are used to ensure the physical security of an enclosed space. It is designed to deny access to unauthorized individuals from physically entering a building or accessing stored information. It uses both power and mechanical components, such as access control, surveillance through close-circuit televisions (CCTVs), fire alarms and intrusion control systems. It provides users with elaborate surveillance that enables them to monitor entry points and minimize both property damages and inventory losses by taking timely action. Owing to this, it finds extensive applications across various sectors, including residential, government, transportation, banking, healthcare, hospitality and retail.
Electronic Security Market Trends
Rapid urbanization, along with the increasing automation across industries, is one of the key factors driving the growth of the market. Furthermore, rising instances of property thefts and break-ins are acting as another major factor contributing to the market growth. Both government and private organizations are employing electronic security solutions to monitor the occurrence of terrorist activities, such as contraband smuggling, shoot-outs and bombings in high risk and sensitive locations. In line with this, the rising inclination of the authorities toward securing public transportation and infrastructures, such as power grids, water plants and oil and gas facilities, is also providing a boost to the market growth. Additionally, widespread adoption of electronic security systems in shopping malls, residential apartments and commercial buildings, is acting as another growth-inducing factor. Individuals are using these systems for access control, surveillance, fire detection, maintenance of attendance records and internet monitoring.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global electronic security market, along with forecasts at the global, regional and country level from 2022-2027. The report has categorized the market based on product type, service type and End-use sector.
Breakup by Product Type:
- Surveillance System
- Access Control System
- Intrusion Detection System
- Alarming System
- Others
Breakup by Service Type:
- Installation Services
- Managed Services
- Consulting Services
Breakup by End-use Sector:
- Government
- Residential
- Transportation
- Banking
- Hospitality
- Healthcare
- Retail
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being Axis Communications (Canon Inc.), ADT Security Services Inc. (Apollo Global Management Inc.), Bosch Security Systems Inc., FLIR Systems Inc., Hitachi Ltd., Honeywell International Inc., IBM Corporation, Tyco International (Johnson Controls), Lockheed Martin Corporation, OSI Systems, Siemens AG, Thales Group, etc.
Key Questions Answered in This Report
1. What is the size of the global electronic security market?2. What is the expected growth rate of the global electronic security market?
3. What are the key factors driving the global electronic security market?
4. What has been the impact of COVID-19 on the global electronic security market?
5. What is the breakup of the global electronic security market based on the product type?
6. What is the breakup of the global electronic security market based on the service type?
7. What is the breakup of the global electronic security market based on the End-use sector?
8. What are the key regions in the global electronic security market?
9. Who are the key players/companies in the global electronic security market?
Frequently Asked Questions about the Global Electronic Security Market
What is the estimated value of the Global Electronic Security Market?
What is the growth rate of the Global Electronic Security Market?
What is the forecasted size of the Global Electronic Security Market?
Who are the key companies in the Global Electronic Security Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 53.5 Billion |
| Forecasted Market Value ( USD | $ 80 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Indicators
2 Scope and Methodology
4 Introduction
5 Global Electronic Security Market
6 Market Breakup by Product Type
7 Market Breakup by Service Type
8 Market Breakup by End-Use Sector
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Axis Communications (Canon Inc.)
- ADT Security Services Inc. (Apollo Global Management Inc.)
- Bosch Security Systems Inc.
- FLIR Systems Inc.
- Hitachi Ltd.
- Honeywell International Inc.
- IBM Corporation
- Tyco International (Johnson Controls)
- Lockheed Martin Corporation
- OSI Systems
- Siemens AG
- Thales Group
Methodology
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