About Electronic Security
Electronic security consists of all the systems that use electronic devices and embedded technology to enhance safety measures and protect human life and physical assets. Electronic security systems are also used in business operations to protect confidential business data and to track unauthorised access to business related information and assets. Rise in urbanisation has led to development of smart cities, which has resulted in adoption of security systems as they provide efficient and accurate security solution as compared to the traditional security methods.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The electronic security market is a competitive landscape with diverse players. Established companies face the challenge of adapting to new trends and technologies, while startups offer innovative solutions but need to overcome brand recognition hurdles. Understanding the competitive dynamics and key trends is crucial for companies to navigate this exciting and evolving market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Electronic Security market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
DT LLC (United States), Allegion (Ireland), ASSA ABLOY (Sweden), HID Global (United States), Axis Communications (Sweden), BIO-key (United States), Bosch Security Systems (Germany), Changzhou Minking Electronics (China), CP PLUS (Germany), Dahua Technology (China), Diebold Nixdorf (United States), DoorKing (United States), dormakaba Holding (Switzerland), Fermax Electronica (Spain), Gemalto (Netherlands), 3M Cogent (United States), Genetec (Canada), Global Security Solutions (Canada), Gunnebo (Sweden), Hanwha Techwin (South Korea) and Hangzhou Hikvision Digital Technology (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Hanyang Hitao (South Korea), Honeywell International (United States), IDenticard Systems (United States), Identiv (United States) and ISONAS (United States).
Segmentation Overview
AMA Research has segmented the market of Global Electronic Security market by Type (Security Alarms, CCTV (Closed Circuit Television), Video Surveillance System and EACS (Electronic Access Control Systems)) and Region.
On the basis of geography, the market of Electronic Security has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User, the sub-segment i.e. Manufacturing Industries will boost the Electronic Security market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of a New Dimension in the Electronic Security
Market Growth Drivers:
Emergence of IoT and Wireless Technologies and Increasing Customer Awareness
Challenges:
Increasing System Complexity and Maintaining Secrecy of Highly Confidential Information
Restraints:
High Installation, Operational, and Maintenance Costs
Opportunities:
Integration of AI and Deep Learning in Home Security Systems and Worldwide Proliferation of “Smart City” Initiatives
Market Leaders and their expansionary development strategies
In November 2023, ADT and Google Nest announce partnership, Integrating ADT's security monitoring services with Nest smart home devices for a unified security and automation experience.
In November 2023, Tyco Security Products launches Cloud-based Access Control System. A scalable and flexible access control solution ideal for multi-site and enterprise deployments.
Key Target Audience
Electronic Security System Manufacturers, Software Providers, Installation Companies and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.