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(CityRegions.Com, May 17, 2018 ) In our aim to bring the best and complete information to our clients, we at Orbis Research present the “Global Electronic Security Market-Growth, Trends, and Forecast (2018-2023)”. The well curated survey by the leading research experts and domain knowledge professionals provides clients with the true picture of the Global Electronic Security Market-Growth, Trends, and Forecast (2018-2023). The survey is expected to push the understanding of the market and its trends for the clients and help drive the market. The survey report consists of all key parameters such as the industry overview, which includes the definition, specifications, classification, applications, industry chain structure, global and regional analysis of the market, and the policy and news analysis.
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The global Electronic Security Market is projected to grow at a CAGR of 8.98%, over the forecast period (2018 - 2023). This report provides information about the leading players in the market and a corresponding detailed analysis of the top vendors in the electronic security market. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.
Rising Trend of Smart Cities Driving Market Growth
The rising trend of smart cities in countries such as India and China is contributing highly towards the growth of the ES market. Several initiatives by the government are also leading to the growth of this market. For instance, China has taken up projects to develop smart cities with advanced security solutions in cities such as Hangzhou, Nanjing, Dalian, and Tianjin. Additionally, the rising usage of CCTV surveillance systems in public places is fueling the growth of the market. However, lack of awareness among the end users and privacy concerns are restraining the market growth.
Public Sectors Occupies the Largest Share in the Market
The public sector holds the highest share in the market as the governments are making use of the advanced technological solutions for criminal detection applications and surveillance. In 2017, drones were used by the department of police in Arkansas for highly specialized missions (tracking a suspect/ obtaining inside view of additional information).
North America is the Major Contributor to the Market
The North American market is the highest contributor to electronic security owing to the initiatives by the government to integrate these systems into their public safety segment. The US is the major contributor to the North American market, several states in the US are conducting trial operations on drones to understand its capability and efficiency. The Asia-Pacific market is the fastest growing market, which is estimated to grow at a faster pace during the forecast period as compared to other regions.
Key Developments in the Market
• November 2017 - Honeywell introduced Self-Monitored Smart Home Security System to safeguard and secure homes. The camera base station will enable enhancements in the future such as facial recognition and wireless motion viewers to provide expanded home coverage.
• September 2017 - Axis Communications AB launched AXIS C8033 Network Audio Bridge, which allows integration of analog and digital audio systems. It provides an added value in a variety of applications such as background music playback and sending alerts to public.
Major Players - • AXIS COMMUNICATIONS AB, ROBERT BOSCH LLC, HONEYWELL INTERNATIONAL INC., TYCO SECURITY PRODUCTS, CHECKPOINT SYSTEMS, INC., ADT LLC DBA ADT SECURITY SERVICES, HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD, MOBOTIX AG, ALLEGION PLC, AND GUNNEBO UK LTD. amongst others.
Reasons to Purchase the Report
• Current and future electronic security market outlook in the developed and emerging markets
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Axis Communications AB., Robert Bosch LLC, Honeywell International Inc., Tyco Security Products, Checkpoint Systems, Inc., ADT LLC dba ADT Security Services, Hangzhou Hikvision Digital Technology Co.,Ltd, MOBOTIX AG, Allegion plc, Gunnebo UK Ltd
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Some of Major Point From TOC
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study
2. Research Approach and Methodology
3. Executive Summary
4. Market Insights
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Industry Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products or Services
4.2.5 Competitive Rivalry among Existing Competitors
5. Market Dynamics
5.1 Factors Driving the Market
5.1.1 Rising Trend of Smart Cities
5.1.2 Growing Concerns Regarding Security
5.2 Factors Restraining the Market
5.2.1 Privacy Issues and Lack of Consumer Awareness
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