The electronic security systems market is expected to reach US$72.054 billion by the end of 2023, increasing from US$37.870 billion in 2017, growing at a CAGR of 11.32% during the forecast period. Electronic security systems make use of a number of equipment including sensors, detectors, control panels, fire alarm systems and communication devices among many others to safeguard the premises. Security concerns posed by major companies and rising number of SME across the globe are driving the demand for these sensors. In addition, rising disposable income in the Asia Pacific region and adoption of these systems in the developed regions will add to the demand for these systems. Increasing investment by major companies to develop new and advanced security solutions will further propel the demand for electronic security solutions worldwide. North America and Europe held a significant market share owing to the early adoption of these systems and the Asia Pacific region will witness substantial growth over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the pressure sensors value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report FrontPoint Security Solutions, Link Interactive, Zicom Electronic Security Systems Limited, Bosch Sicherheitssysteme GmbH, Communications AB, and Honeywell Security among others.
The electronic security systems market has been analyzed through following segments:
CCTV Surveillance Security System
Middle East and Africa