Ocean View, DE -- (SBWire) -- 06/09/2020 --Electronic security market is certain to reap substantial profits in the upcoming period, courtesy- growing governmental initiatives emphasizing on the adoption of advanced security system in high traffic locations that are more prone to perceived threats such as transit stations, shopping malls, and public roads. The efforts being undertaken by the Indian Government, in this regard, is worth mentioning. Reportedly, the regional government, in the year 2014, had set up a fund of USD 125 million, exclusively dedicated to prevention of sexual violence, for the installation of advanced surveillance system at high risk zones. For the record, these hi-tech hardware systems are equipped with advanced algorithms and video analytics that aids in easy detection of criminals. These encouraging initiatives to ensure public safety and welfare are overt to upscale electronic security market demand.

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Speaking of the commercialization potential of electronic security market, the overall business space is claimed to record a valuation of USD 60 billion by 2024, as estimated by Global Market Insights, Inc. The proposed figure is reportedly more than double of the market valuation of 27 billion in 2016. Favorable governmental legislations across the globe is expected to gradually mandate deployment of safety and security solutions in majority of the sectors. For instance, in Karnataka, one of the prominent states in India, it is now compulsory to install CCTV cameras surveillance systems in most of the commercial infrastructure premises such as ATMs, pubs, cyber cafes, restaurants, and banks. In addition, it has been also reported that the number of public places coming under the ambit of cameras are surging every month- an affirmation further depicting signs of penetration of electronic security market in the region.

According to a few trusted reports, the total cost of reported stolen property in the U.S. constituted to $12.42 billion in 2016. The two decades of 1995-2015 witnessed close to 2,500 incidents of theft of radioactive materials and trafficking, according to a report by The International Atomic Energy Agency (IAEA). The electronic security market has been gearing up to tackle the growing concerns of security and safety across all domains. The upcoming electronic security firms seem to be aware of the need to become proactive rather than being reactive to the perceived threats and probable incidents leading to loss of human life and weakening of financial assets. A prominent example that can be noted here is of e-surveillance technology. The cost of maintaining an ATM e-surveillance for a bank in India amounts to Rs. 40,000. Reportedly, the e-surveillance technology used by Zicom reduced the bank's safety and security cost by 90%.

The electronic security market portfolio includes access and control systems, intrusion and detection systems, surveillance and alert systems, anti-terrorist and inspection equipment, mass notifications systems and anti-theft systems. In addition to innovation, the latest trend of integrating advanced sensors, wearable devices, smart cards with existing systems and integration of hardware and software with the Internet of Things has demonstrated to assist the electronic security market to make strong headway in the near future.

The electronic security industry has been highly competitive with reputed firms such as IBM Corporation, Bosch Security Systems, Thales Group, Siemens AG, Lockheed Martin Corporation, Axis Communications, Auto Clear LLC, Hitachi Ltd, G4S PLC, OSI Systems, Inc., to name a few. The upcoming electronic security providers like Zicom and Gemalto, which collaborate with banks and governments across various regions of the world are forming a strong framework to disrupt the electronic security market in a positive way. The mergers and acquisitions, technological advancement, alliances and growing collaboration of private sector with the governmental agencies will fuel the sustained growth of the electronic security industry.

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The competitive hierarchy of electronic security industry is all inclusive of reputed biggies who have been increasingly focusing on novel product development, and innovative merchandizing strategies. Amidst the intense share battle, mergers and acquisitions is one of the major growth strategies underlining the sustainability quotient of the strategic landscape. A prominent instance can be placed as a testament of the fact- ADT, a leading name in North America electronic security market, has recently acquired commercial security business of Protec, Inc, in a bid to reinforce ADT's position in the regional business space. Allegedly, through this procurement, ADT would not only be able to tap Protec's extensive consumer base in Northwest America, but would also enhance ADT's existing security service in national and commercial account domain. The deal was reportedly closed on 31st July, '17. Some of the other players holding a strong portfolio in electronic security industry space include ASSA ABLOY, BOSCH Security Systems, Thales Group, OSI Systems, Inc., Siemens AG, and RedXDefense LLC.

Table of Contents (ToC) of the report:

Chapter 5. Electronic Security Market, By Application
5.1. Security system electronics market share, by product, 2016 & 2024
5.2. Environmental
5.2.1. Market estimates and forecasts, 2013 - 2024
5.3. Public sector
5.3.1. Market estimates and forecasts, 2013 - 2024
5.4. Custom service sector
5.4.1. Market estimates and forecasts, 2013 - 2024
5.5. Postal
5.5.1. Market estimates and forecasts, 2013 - 2024
5.6. Telecommunications
5.6.1. Market estimates and forecasts, 2013 - 2024
5.7. Residential
5.7.1. Market estimates and forecasts, 2013 - 2024
5.8. Others
5.8.1. Market estimates and forecasts, 2013 – 2024

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