According to the latest report by IMARC Group, titled “Electronic Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global electronic security market size reached US$ 57.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 85.2 Billion by 2028, exhibiting a growth rate (CAGR) of 6.6% during 2023-2028.
Electronic Security Market Trends and Drivers:
The global electronic security market experienced double-digit growth during 2014-2019. Electronic safety is a system that utilizes embedded technology and electronic devices to improve safety measures and protect human life as well as physical assets. Some of the most common functions performed by the system include surveillance, access control, and intrusion control. It includes alarms and closed-circuit televisions (CCTVs) to help monitor entry points and prevent unauthorized individuals from entering a specific area or accessing stored information.
It is also employed in business operations for safeguarding confidential business data and tracking unauthorized access to business-related information and assets. As a result, it is extensively utilized across the manufacturing, transportation, banking, healthcare, and government sectors.
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Global Electronic Security 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Axis Communications (Canon Inc.)
- ADT Security Services Inc. (Apollo Global Management Inc.)
- Bosch Security Systems Inc.
- FLIR Systems Inc.
- Hitachi Ltd.
- Honeywell International Inc.
- IBM Corporation
- Tyco International (Johnson Controls)
- Lockheed Martin Corporation
- OSI Systems
- Siemens AG
- Thales Group
The report has segmented the market on the basis of product Type, Service type, end user and Region.
Breakup by Product Type:
- Surveillance System
- Access Control System
- Intrusion Detection System
- Alarming System
- Others
Breakup by Service Type:
- Installation Services
- Managed Services
- Consulting Services
Breakup by End-Use Sector:
- Government
- Residential
- Transportation
- Banking
- Hospitality
- Healthcare
- Retail
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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