Electronic Security Market to see 10% gains to 2024 | Top Manufacturers: ADT, Bosch Security and Safety Systems, L3 Technologies, Siemens, Honeywell, Schneider Electric
SELLBYVILLE, Del., Oct. 16, 2018 /PRNewswire-PRWeb/ -- Segmentation of the electronic security market by product indicates that the antiterrorist and inspection equipment is anticipated to grow during the forecast timespan owing to their applications in airports, commercial units, and the residential sector. Systems such as metal detectors, X-ray inspection machines, and turnstile & revolving doors can be easily deployed at low cost or on rent basis and are instrumental in dissuading criminals carrying explosives and armaments from threatening the safety of the general population.
The surveillance and alert system market are anticipated to exhibit substantial growth during the forecast timeframe. The reduction in component and raw material costs is contributing to the decline in the electronic security market price trend. Remote monitoring systems are increasingly finding application in developed regions such as U.S and Western Europe. Installing a home security solution with remote monitoring capabilities allows the homeowner to access security cameras and video units situated inside the residential location in real-time.
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Public-sector applications are the largest revenue-generating segment. Various government bodies are making use of advanced solutions for surveillance and criminal detection applications.
The custom service segment of the electronic security market is anticipated to exhibit high growth. Cross border drug and human smuggling, packaged in normal settings, have undergone high growth in the recent years. Illegal contrabands can be stored in packages or placed in body cavities.
The Asia Pacific region is expected to generate a high demand in the electronic security market owing to the rise in safety concerns and security issues among the people with the increase in theft & intrusion activities. The demand for luxury apartments and lifestyle is encouraging the users to adopt these advanced systems in their buildings. Several factors, such as affordability of these systems and high economic growth of the region, are driving the regional electronic security market growth.
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The North America electronic security market is projected to dominate the global business landscape owing to the government initiatives to integrate these systems into their public safety segment. Various U.S states are currently conducting trial operations on drones to understand their capabilities and their operational efficiency.
The key players operating in the electronic security market are ADT LLC, Auto Clear LLC, BOSCH Security Systems, Axis Communications, Auto Clear LLC, ASSA ABLOY Group, Brivo Systems, LLC., FLIR Systems, Inc., Fisher Research Laboratory, Future Fibre Technologies, Frontier Pitts, Ltd., Hitachi Ltd., G4S PLC, L-3 Communications Security & Detection Systems, Johnson Controls International Plc., Napco Security Technologies, Inc., Millivision Technologies, OSI Systems, Inc., RedXDefense LLC, OT-Morpho, Siemens AG, and Schneider Electric.
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