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North America Electronic Security Market to Amass Significant Proceeds by 2024

Author : Ronak Bora | Published Date : 2019-06-07 

The North America electronic security market is projected to dominate the global business landscape owing to the government initiatives to integrate these systems into their public safety segment. For instance, the FAA Modernization and Reform Act of 2012 contains provisions to make the unmanned aerial systems (UAS) licensing process easier and quicker for law enforcement officials. Various U.S states are currently conducting trial operations on drones to understand their capabilities and their operational efficiency.

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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.

Crime rates across the world are heavily impacted with the rising penetration of these systems in residential and commercial settings and is anticipated to drive the electronic security market growth. End-users across the world are replacing conventional security systems such as guards and physical body checks with high-tech solutions. Physical body checks in malls and airports can be cumbersome and increase customer discomfort, primarily among women. X-ray body scanners, on the contrary, requires the person to pass through an electronic frame.

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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 surveillance and alert system market is anticipated to exhibit substantial growth during the forecast timeframe. The reduction in component and raw material costs is contributing to the decline in the electronic security market price trend. Remote monitoring systems are increasingly finding application in developed regions such as U.S and Western Europe. Installing a home security solution with remote monitoring capabilities allows the homeowner to access security cameras and video units situated inside the residential location in real-time.

The electronic security market 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.

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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.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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