Businesses all over the world have upped their investment to protect infrastructure and reduce human casualties. Sensors and detectors, fire alarm systems, control panels, interfaces, and communications devices are used by businesses to implement security on their premises. The expansion of the electronic security market is being driven by an increase in the number of enterprises and small and medium-sized businesses (SMEs) around the world. The North American region spends the most on electronic security, followed by Asia-Pacific and Europe.
The electronic security sector has taken on a new dimension as a result of globalization. The physical dimension has boundaries or perimeters, whereas the cyber dimension is limitless and virtual. Grids, water plants, and oil and gas infrastructure are among the most vulnerable sectors to natural disasters. These regions have the potential to have a significant impact on the local community. It has compelled government agencies to create ways to protect critical infrastructure from these threats. The usage of new technologies and ever-changing market trends has made the world’s economy more integrated today.
This research examines the global electronic security market in depth, including trends and forecasts, competitive landscape, main drivers, restraints, and opportunities, as well as mergers and acquisitions. It also provides in-depth information on five regions: North America (NA), Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America (LA).
Bosch Security Systems, Halma, Honeywell, Siemens, Tyco, and United Technologies Corporation are the leading companies in the global electronic security industry (UTC).
The surveillance market is one of the largest in the technology sector, with significant growth potential both internationally and in India. Corporate workplaces, commercial locations, or shopping malls, among others, all employ electronic security systems. Electronic security systems are primarily designed to provide security wherever they are employed. Their rising acceptance for security purposes by government organisations, manufacturing industries, and commercial establishments, among others, is a major driving factor behind the market’s rise.
India’s surveillance industry is in high demand because to rising terror risks, expanding public and private infrastructure, and rising crime rates. In India’s electronics security market, video surveillance systems have been the most popular product category.
Market Forces
The market is being driven by investments and new technology in electronic security. This sector has drawn significant investment in the form of FDI inflows in India. In the coming years, Indian companies want to spend in production, distribution, and R&D. Bosch security systems announced the INTEOX camera platform in 2021, which combines Bosch’s built-in Intelligent Video Analytics with excellent performance, a widely used open OS, and the flexibility to safely integrate software apps. Hank Washington, a firm specialising in high-quality household products, will debut a new keyless keypad door lock system in 2020, with the BACKR electronic access control solution appropriate for those consumers interested in a high-security door lock for indoor and outdoor applications.
The demand for superior electronic security systems is increasing as more money is invested in creating smart cities. Singapore is currently the leading smart city investor in the world, followed by Tokyo, New York, and London. The United States, Europe, and China together account for more than half of global smart city spending. Each year, China plans to invest billions of dollars in mass surveillance programmes, which will primarily use advanced facial detection technology and algorithms to track the populace using millions of surveillance cameras. Asia is investing in infrastructure development to make its countries safer and more secure through the use of surveillance systems, alarm systems, and access controls.
