Growing Security Concerns & Increasing Construction Activity Drive the Electronic Security Systems Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) September 23, 2014 -- Electronic Security relates to the use of technology and electronic devices for ensuring safety and security of people, property, physical assets and digital infrastructure, by tracking and preventing their unauthorized access. Rising incidence of security infringements such as terrorist attacks, vandalism, and campus violence is brining electronic security into the spotlight as an integral part of the overall safety and security arrangements made by governments and commercial establishments across the globe. Electronic security systems such as, alarms, electronic access controls systems and CCTV/Video surveillance systems are witnessing steady growth. Although, the government sector continues to remain the largest end-use market for electronic security systems, future growth is forecast to come from increasing deployments in commercial establishments and households, due to heightened perceived threat of criminal activity and terrorism.
Given that majority of electronic security system installations, including alarms, electronic access control systems (EACS) and CCTV/surveillance equipment are carried out at residential, commercial, and office buildings, new building constructions represents a major growth driver in the market. Electronic security system installations have become primary components of building security plans for new housing constructions, commercial buildings such as malls, retail outlets, entertainment centers, new office buildings, government departments, banking and finance, IT and other private offices. While alarms are automatic buy for most new housing constructions, electronic access control system installations such as card-based or biometric access control systems and CCTV/Video surveillance are regular safety systems used in new commercial or office establishments. Construction of new public infrastructure facilities also generates demand for EACS and CCTV/video surveillance systems. Growing construction spends world over therefore augurs well for the future of this market.
The role of technology innovation in driving opportunities in the market cannot be undermined. Given consumers’ appetite for technologically superior, yet cost effective products, advanced security systems such as digital CCTV, IP based video surveillance, remote-monitoring systems, and IP based access control systems, among others, are poised to witness strong growth. Use of advanced cameras with high-mega pixel HD resolution and lowlight capabilities, mobile video recorders and remote display for CCTV/Video Surveillance, and contactless smart cards for access control, is increasing.
As stated by the new market research report on Electronic Security Systems, Asia-Pacific represents the largest and the fastest growing market worldwide with a projected CAGR of 9.5% over the analysis period. Growth in the region is led by stringent safety regulations that mandate installation of advanced security solutions in public spaces such as retail outlets, malls, multiplexes and entertainment centers; development of new urban settlements and townships; expanding commercial real-estate activity in existing urban centers; growth in consumer affluence and income; increase in business and commercial activity and subsequent increase in security spending at residential, commercial and enterprise levels.
Key players covered in the report include Allegion, ASSA ABLOY AB, Axis Communications AB, Bosch Group, Changzhou Minking Electronics Co. Ltd., Diebold Inc., DoorKing Inc., Fermax Electronica S.A.E, Global Security Solutions, Gunnebo AB, Honeywell International Inc., Huviron Co. Ltd., Identive Group Inc., Imprivata® Inc., Johnson Controls Inc., Kaba Group, Linear LLC, March Networks Corporation, NAPCO Security Technologies, Inc., PAC International Ltd., Panasonic Corporation, Schneider Electric, SAFRAN Group, Secom Co. Ltd., SecuGen Corporation, Siemens AG, Sony Electronics Inc., Toshiba America Inc., Tyco International Ltd., United Technologies Corporation, Chubb Fire and Security Limited, Chubb Edwards, Verisure Holdings AB, Vido Electronic Vertriebs Gmbh, and Yoko Technology Corp., among others.
The research report titled “Electronic Security Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, challenges, mergers, acquisitions and other strategic industry activities of major companies worldwide. Global market estimates and projections are provided in terms of dollars for major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Product Segments analyzed in the report include Alarms, Electronic Access Control Systems, CCTV/Video Surveillance Equipment and Others.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Electronic_Security_Systems_Market_Report.asp
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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