+1-888-308-5802     
News Contact Us

By 2024, Electronic Security Market to Derive Extensive Returns from Public-Sector Applications

Author : Ronak Bora | Published Date : 2019-03-14 

Electronic Security Market is projected to reach a revenue of approximately USD 60 billion over the forecast timespan. The increasing instances of theft, vandalisms, homicides, and rapes is causing governments of various economies, primarily in the Latin American and Asia Pacific region to adopt equipment provided by players in the electronic security market. The ‘Safe City’ plan of the Chinese government to enhance civilian security is expected to propel the demand for surveillance and video monitoring systems.

Request for Sample Copy of This Report @ https://www.gminsights.com/request-sample/detail/2132

The growing trend of IoT and connected systems is causing security to become a prime area of concern and leading to the high adoption of electronic security market. Everyday consumer products, such as fridges and coffee machines, are increasingly equipped with computer chips that can be hacked into to extract sensitive customer information and understand the user’s behavior pattern. Technology such as the Samsung smart TV for instance has major security issues since Tizen OS can be easily hacked into by external parties. To improve security provided to homes, vendors in the electronic security market are increasingly providing smart solutions such as intelligent door locking systems and facial recognition sensor technology for refrigerators.

Public-sector applications are the largest revenue-generating segment. Various government bodies are making use of advanced solutions for surveillance and criminal detection applications. For instance, in September 2017, a police department in Arkansas was reported to be using drones for highly specialized missions such as the tracking of a suspect or obtaining an inside view and additional information in a hostage situation.

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/2132

Segmentation of the electronic security market by product indicates that 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 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.

Speaking of the regional growth distribution of electronic security market, the North America electronic security market is set to expand at a commendable pace owing to its security infrastructure, awareness related to safety and the growing spending by the governments of U.S and Canada. The Asia Pacific region will continue to grow as the economic surge, uptick in industrialization and increasing awareness contribute to the soaring electronic security industry demand.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/electronic-security-market

Players operating in the global electronic security market include Axis Communications, BOSCH Security Systems, Hitachi Ltd, OSI Systems, Inc., SDMS Security Products UK Ltd., Siemens AG, MilliVision Technologies, ASSA ABLOY, Scanna MSC Ltd., Thales Group, RedXDefense LLC, etc. Industry players conduct strategic moves such as mergers and acquisitions to sustain growth.

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.

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

Related News

Wireline Logging Services Market to register an excellent growth up to 2022, North America to capture a major portion of the global industry

Published Date: 2019-03-25         Author: Ronak Bora

North America held the highest wireline logging services market share in 2014 and is expected to lead over the forecast period. This can be credited to increasing number of wells both in onshore and offshore areas and growing shale activities across the region. Latin America wireline logging ser... Read More

Automated Fare Collection System Market will be driven by growing preference for integrated ticketing and electronic payments

Published Date: 2019-03-25         Author: Ronak Bora

Automated Fare Collection System Market trends will be stimulated by growing adoption of electronic payments and integrated ticketing system across. Transportation infrastructure will drive AFC system industry extensively, as it is used for maintaining customers log, estimating best fare calculation... Read More

Consumer service segment of Intelligent Virtual Assistant (IVA) Market to grow 37%+ gains to 2024

Published Date: 2019-03-22         Author: Ronak Bora

Speech recognition technology is witnessing high growth in the Intelligent Virtual Assistant (IVA) Market due to the rise in adoption of these techniques in modern industrial solutions. The automobile and smartphone industry are the major application areas of the technology. The future connected car... Read More

© 2019 Fractovia. All Rights Reserved