Global Electronic Security Market Insights Forecasts to 2030
- The Electronic Security market was valued at USD 40 billion in 2021.
- The market is growing at a CAGR of 10% from 2022 to 2030
- The global Electronic Security market is expected to reach USD 90 billion by 2030
- North America is expected to grow the fastest during the forecast period
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The global Electronic Security market is expected to reach USD 90 billion by 2030, at a CAGR of 6% during the forecast period 2022 to 2030.
Electronic security is a system which has all the systems that use Embedded Technology as well as electronic devices for improving safety measures and protecting physical Assets and human life. Apart from this, the electronic security system has the capacity to do security operations like access control, intrusion control, surveillance, alarming, etc. These systems mostly consist of access controls CCTV and alarms which are highly used in different sectors like residential, manufacturing, commercial, and government agencies. The rise in the urbanization is leading to the development of smart cities which has resulted in the the acceptance of security systems because they provide accurate and efficient security solutions which act as an opportunity for market leaders. In addition, the increasing use of electronic security system in commercial and residential settings are also creating a huge impact on the crime rate on across the world and it is also driving the overall growth of the market.
Global Electronic Security Market Report Coverage
|Market Size in 2021:||USD 40 Billion|
|Forecast Period 2022-2030 CAGR:||10 %|
|2030 Value Projection:||USD 90 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||205|
|Tables, Charts & Figures:||116|
|Segments covered:||By Component, By Service, By Deployment Model, By Connectivity, By Application|
|Companies Covered:||ASSA Abloy, ADT Inc., AXIS Communications, BOSCH Security, Autoclear LLC, G4S Limited, Frontier Pitts Ltd., Napco Security Technologies, Zod Security, Westminster Group PLC|
|Growth Drivers:||The increasing adoption of IoT in smart homes is boosting the overall growth of the market. In fact, consumers have shifted from traditional mountable Wi-Fi cameras to the deployment of Smart home security cameras for increasing the security of their premises.|
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This research report categorizes the market for electronic security market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the electronic security market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the electronic security market.
The increasing adoption of IoT in smart homes is boosting the overall growth of the market. In fact, consumers have shifted from traditional mountable Wi-Fi cameras to the deployment of Smart home security cameras for increasing the security of their premises. This advanced Smart home security camera provides various benefits which improve their installation in many homes across the region. The ease of installation as well as the easy availability of Smart home security cameras also drive the demand for the product. The smart lighting to smart thermostats Tech companies is coming up with more intelligent product than ever before. The launch of this new product has advanced capacities which is is driving market growth. Manufacturers have also started focusing to develop new products for the specific application because they are wedding demand on the basis of application and utilisation of the devices.
- In 2021, surveillance and alert systems to witness the growth rate of 10%.
On the basis of solutions, the global electronic security market is segmented into solution and service. The solution segment is also categorized into Access & Control System, Surveillance & Alert System, Anti-Theft System, Antiterrorist & Inspection Equipment. The service segment is further sub segmented into Professional Services, Managed Services. Among these, the surveillance and alert systems is anticipated to witness the growth rate of 10% over the forecast period owing to the increasing investments in the use of surveillance camera technology. Surveillance and alert systems are mainly used in public places like bus stations, malls, and airports. Different variations like HD, CCTV, ANPR systems, analogue CCTV, and video analytics will meet the needs from various applications.
- In 2021, cloud segment holds the maximum revenue share of USD 4 million.
Based on deployment model, the global electronic security market is segmented into on-premise, cloud. Among these, cloud deployment model is dominating the market with the revenue share of USD 4 million. The extensive digitization as well as penetration of cloud based CCTV cameras across the country are anticipated to boost the market growth over the forecast period.
- In 2021, ethernet connectivity segment is dominating the market.
On the basis of application, the global electronic security market is segmented into ethernet, wireless, cellular. Among these, the ethernet connectivity is anticipated to dominate the market with the market share of 40% over the forecast period. The modern electronic security system like surveillance-camera leverage Ethernet connectivity to transmit the digital transformation to host computers. Apart from this various companies across the world have developed electronic security system with the support of power over Ethernet Technology which helps in managing both power flow as well as data transmission. In addition, the world is also showcasing substantial deployment of wireless surveillance systems.
- In 2021, the public sector application segment to attain a CAGR of 15%.
Based on the application, the global electronic security market is segmented into Environmental, Public Sector, Custom Service Sector, Postal, Telecommunications, Residential. Among these, the public sector segment to attain a CAGR of 15% till the end of the forecast period. Theft of radioactive products and nuclear weapon products, by unauthorized personnel for the creation of dirty bombs can result in to large scale destruction. To avoid this, the installation of electronic security has become a new norm in places medical & scientific laboratories and nuclear facilities across the world.
Regional Segment Analysis of the Electronic Security Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Asia Pacific emerged as the largest market for the global Electronic Security market in 2021.
APAC is anticipated to have the greatest CAGR growth for the electronic security market between 2020 and 2030. The increasing demand in safeguarding the national security from terrorist attacks is boosting the demand of the electronic security solution in the market. The demand is attributed to the increasing spending to protect the critical infrastructures like banks, airports, trade centers, enterprise facilities, and government headquarters. Apart from this, rapid urbanization as well as continuing globalization have driven the requirement for advanced security solutions across industry verticals that is supporting the industry value.
List of Key Market Players
- ASSA Abloy
- ADT Inc.
- AXIS Communications
- BOSCH Security
- Autoclear LLC
- G4S Limited
- Frontier Pitts Ltd.
- Napco Security Technologies
- Zod Security
- Westminster Group PLC
Electronic Security Market, By Component
- Access and Control Systems
- Surveillance and Alert Systems
- Anti Theft Systems
- Anti terrorist and Inspection
- Professional Service
- Managed Service
Electronic Security Market, By Deployment Model
Electronic Security Market, By Connectivity
Electronic Security Market, By Application
- Public Sector
- Custom Service Sector
Electronic Security Market, By Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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