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Electronic Security Market Trends

  • Report ID: GMI2132
  • Published Date: Aug 2024
  • Report Format: PDF

Electronic Security Market Trends

One of the most significant trends in the electronic security industry is the integration of artificial intelligence (AI) and machine learning (ML) into security systems. AI-powered surveillance cameras and monitoring systems are now capable of recognizing faces, detecting unusual activities, and predicting potential security breaches through advanced analytics. Machine learning algorithms improve the accuracy and efficiency of threat detection, reducing false alarms and enhancing the overall effectiveness of security measures. This trend is driving the development of smarter and more proactive security solutions.
 

The shift towards cloud-based security solutions are gaining traction due to the numerous benefits they offer, such as scalability, cost-effectiveness, and remote accessibility. Cloud-based platforms allow for centralized monitoring and management of security systems, enabling real-time data access and analytics from any location. This trend is particularly beneficial for large organizations with multiple sites, as it simplifies the deployment and maintenance of security infrastructure. The growing acceptance of cloud technology is transforming the way security systems are managed and operated.
 

The proliferation of Internet of Things (IoT) technology is significantly impacting the electronic security market. IoT-enabled security devices, such as smart cameras, sensors, and alarms, are increasingly being adopted for their ability to communicate and interact with each other over the internet. These devices provide enhanced security capabilities by enabling real-time monitoring, automated alerts, and seamless integration with other smart systems. The rise of IoT in security is leading to more interconnected and intelligent security ecosystems, improving overall situational awareness and response times.
 

These growing market trends are driving the evolution of the electronic security landscape, making it more efficient, effective, and adaptable to the ever-changing security threats in both physical and digital realms.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size of electronic security reached USD 54.68 billion in 2023 and will grow at 12% CAGR between 2024 and 2032, due to increasing concerns over safety and theft, rising adoption of smart home technologies, and advancements in surveillance and access control systems.

Electronic security industry size from the cloud-based segment will witness 10% CAGR through 2032, driven by their real-time data access, advanced analytics, and remote monitoring capabilities

Asia Pacific market registered 35% share in 2023, attributed to rapid urbanization, increasing investments in smart city infrastructure, and rising security concerns in the region.

Major companies operating in the industry are ADT Inc., ASSA Abloy, BOSCH Security, G4S Ltd., Honeywell International Inc., Johnson Controls International, and Teledyne FLIR LLC, among others.

Electronic Security Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 21
  • Tables & Figures: 360
  • Countries covered: 21
  • Pages: 240
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