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MarketersMEDIA / Newsroom / At 10% growth, Electronic Security Market to be valued $60bn by 2024

At 10% growth, Electronic Security Market to be valued $60bn by 2024

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The Asia Pacific electronic security market is expected to generate a high demand in the forecast period owing to safety concerns and security issues among the people with the increase in theft & intrusion activities.

— The global electronic security market is expected to grow from $27 billion in 2016 to $60 billion by 2024, according to a Global Market Insights, Inc. report. The growing adoption of security and safety systems in the household sector owing to the rise in the instances of thefts and break-ins is expected to drive the market. The electrical systems provide monitoring and reporting about check-in and check-out, ensuring the safety of the premises and property. The industry players are integrating wireless and home automation technologies into their offerings to provide advanced features and functions to the consumers.

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Surveillance and alert systems are experiencing a high demand in the electronic security market owing to the rise in the adoption of these products in the BFSI sector. These systems provide video and audio recordings, which help the security personnel in identifying threats and suspicious activities. Applications of these systems for monitoring criminals in police stations, military, and defense sector are growing at a rapid pace.

In the electronic security market, residential and commercial sectors are witnessing an increasing adoption, which will grow over the forecast timeline. Several technologies are developed to provide solutions for ensuring the safety & security of the residential apartments. It includes fire detection system, access & control system, anti-theft system, CCTV system, and Intrusion Detection (ID) system. Applications of these systems in the commercial sector, such as offices and corporate buildings, are growing at a rapid pace with the rise in the footfall in these places. Developers in the market are providing advanced solutions, which are specifically designed for these sectors.

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The Asia Pacific region is expected to generate a high demand in the electronic security market owing to the rise in safety concerns and security issues among the people with the increase in theft & intrusion activities. The demand for luxury apartments and lifestyle is encouraging the users to adopt these advanced systems in their buildings. Several factors, such as affordability of these systems and high economic growth of the region, are driving the regional market growth. Several government initiatives and programs are providing opportunities to the companies to enhance their offerings in the region.

The key players operating in the electronic security market are ADT LLC, Auto Clear LLC, BOSCH Security Systems, Axis Communications, Auto Clear LLC, ASSA ABLOY Group, Brivo Systems, LLC., FLIR Systems, Inc., Fisher Research Laboratory, Future Fibre Technologies, Frontier Pitts, Ltd., Hitachi Ltd., G4S PLC, L-3 Communications Security & Detection Systems, Johnson Controls International Plc., Napco Security Technologies, Inc., Millivision Technologies, OSI Systems, Inc., RedXDefense LLC, OT-Morpho, Siemens AG, and Schneider Electric. The players in the electronic security market are integrating several technologies into their products to perform specific functions required by several industrial segments. Industry participants are increasingly focusing on M&A, partnerships, and collaboration activities to gain eminence.

Browse key industry insights spread across 290 pages with 120 market data tables & 40 figures & charts from the report, “Electronic Security Market Size By Product (Access & Control System, Surveillance & Alert System, Anti-Theft System, Antiterrorist & Inspection Equipment), By Application (Environmental, Public Sector, Custom Service Sector, Postal, Telecommunications, Residential), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2017 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/electronic-security-market

Table of Contents (ToC) of the report:
Chapter 5. Electronic Security Market, By Application
5.1. Security system electronics market share, by product, 2016 & 2024
5.2. Environmental
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. Postal
5.5.1. Market estimates and forecasts, 2013 - 2024
5.6. Telecommunications
5.6.1. Market estimates and forecasts, 2013 - 2024
5.7. Residential
5.7.1. Market estimates and forecasts, 2013 - 2024
5.8. Others
5.8.1. Market estimates and forecasts, 2013 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/electronic-security-market

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Info:
Name: Arun Hegde
Organization: Global Market Insights, Inc.
Address: 4 North Main Street Selbyville, Delaware 19975 USA
Phone: 1-888-689-0688
Website: https://www.gminsights.com/pressrelease/electronic-security-market

Source URL: https://marketersmedia.com/at-10-growth-electronic-security-market-to-be-valued-60bn-by-2024/455897

Source: MarketersMedia

Release ID: 455897

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