Electronic Security Market comprises of electronic equipment such as alarms, access control systems, and CCTVs to perform security operations, that are applicable to inhibit the unapproved activities in personal or public properties. The Electronic Security System is predominantly utilized by Government agencies and administrations for security purposes.
The Global Electronic Security market is increasing gradually with a significant value, the market is estimated at $40 billion in 2020, and it is expected to grow at a greater pace by 2027 at a significant CAGR of 10% during the forecast period 2021-2027. The rising urbanization and development of smart cities enhance the adoption of the electronic security system and serve as the driving factor for the growth of the market. The government agencies, manufacturing industries, and commercial establishments are employing electronic security systems at an increasing rate for various prospective to stop and check several activities such as robbery, illegal activities, and malpractices. This will propel the market growth and is expected to drive the Global Electronic Security market during the forecast period.
As per the product type segment, the highest shares and market values of the Global Electronic Security market is dominated by CCTV (closed-circuit television) products. Due to its broad application in video monitoring, facial recognition, automatic identification of vehicle number plate and smoke detection, results in the dominance of this segment. Additionally, the market is dominated by North-America based on the region segment, due to its significant shares and largest market size in the electronic security market. North-America region is significantly witnessing an increase in development of manufacturing industries and IT sectors, that raises the demand for security software to monitor the activities. Thus, it is anticipated to drive the growth of the Global Electronic Security market during the forecast period.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered-
- By Product Type
- By Application
- Competitive Landscape- Axix Communications AB, Robert Bosch LLC, Honeywell International Inc., Tyco Security Products, MOBOTIX AG, Allegion plc and Gunnebo UK Ltd., among others.
Electronic Security Market Report Segment
By Product Type
- Security Alarms
- CCTV (Closed Circuit Television)
- Video Surveillance System
- EACS (Electronic Access Control System)
By Application
- Manufacturing Industries
- Government Institutions
- Educational Institutions
- Healthcare Institutions
- Data Centers
- Commercial Infrastructure
A full Report of Electronic Security Market is Available at: https://www.omrglobal.com/industry-reports/electronic-security-market
Electronic Security Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
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