What Has Been The Evolution of the Electronic Security Market in Recent Years?
The electronic security market has seen considerable growth due to a variety of factors.
• The size of the electronic security market has seen a robust expansion in recent years. The market, which currently stands at $52.44 billion in 2024, is predicted to escalate to $57.63 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.9%.
The historical growth trajectory can be traced back to increasing safety requirements, the ongoing digital transformation, a surge in cyber threats, enhanced awareness about safety and security measures, and a mounting demand for internet monitoring systems.
What Are the Future Growth Projections for the Electronic Security Market?
The electronic security market is expected to maintain its strong growth trajectory in upcoming years.
• The market for electronic security is anticipated to experience considerable growth in the coming years. Anticipated to reach a projected value of $79.48 billion by 2029 with a compound annual growth rate (CAGR) of 8.4%, this surge within the forecasted period can be tied to several factors.
These include an uptick in property thefts, a rise in burglaries and home intrusions, an increase in organized crime, more deployments of video surveillance systems, and expanded usage of cloud-based entry control solutions. The forecast period also looks set to be shaped by ongoing technological advancements, security, surveillance, and network innovation, increased investment in startup companies, constant innovations aimed at improving security, and integration with connectivity technologies such as Bluetooth.
What Are The Core Factors Supporting Growth In The Electronic Security Market?
An escalation in property theft occurrences is anticipated to stimulate the advancement of the electronic security market. The term 'property theft' implies the illegal appropriation of someone's belongings with the aim of depriving that individual of their property usage rights. Numerous elements, such as growing organized crime syndicates, escalating poverty, substance misuse, and societal inequality, are contributory to the rise in property theft. Electronic security systems, upon registering a breach, promptly alert property holders, enforcement authorities or surveillance hubs, allowing for immediate steps to be taken, such as alerting law enforcement or dispatching security agents to the location. For example, a study by the Federal Bureau of Investigation, a law enforcement agency based in the US, stated that in October 2023, there was a 7.1% increase in property crime incidents in 2022 compared to 2021. It revealed that the rate of property crime had risen to approximately 1,954.4 incidents for every 100,000 individuals, indicating a 6.7% surge from the preceding year. Larceny theft made up the most significant percentage (71.7%) of total property crimes in 2022, with burglary constituting 13.8%. Thus, the surge in property theft incidents fuels the progress of the electronic security market.
What Are The Major Segments Within The Global Electronic Security Market?
The electronic security market covered in this report is segmented –
1) By Product Type: Alarms, Video Surveillance Systems, Access Control Systems, Other Product Types
2) By Connectivity: Ethernet, Wireless, Cellular
3) By End-User: Defense, Manufacturing, IT, Automotive, Telecommunications, Residential, Public Sector, Other End-Users
Subsegments:
1) By Alarms: Intruder Alarms, Fire Alarms, Gas Leak Detectors, Panic Alarms, Medical Emergency Alarms
2) By Video Surveillance Systems: CCTV Cameras, IP Cameras, Analog Cameras, Video Recorders, Video Management Systems (VMS)
3) By Access Control Systems: Card-Based Systems, Biometric Systems (Fingerprint, Iris, Facial Recognition), RFID Systems, Keypad Or Pin-based Systems, Wireless Access Control Systems
4) By Other Product Types: Perimeter Security Systems, Barrier Gates, Smart Locks, Intercom Systems, Security Drones, Security Lighting
Pre-Book The Electronic Security Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Market Trends Are Altering The Electronic Security Industry?
Key players in the electronic security sector are pioneering advanced technologies such as edge AI surveillance cameras, in a bid to offer customers enhanced features. These edge AI surveillance cameras are integrated with artificial intelligence (AI) processing abilities that operate directly within the camera, at the network's edge. A case in point, was in February 2023, Idis, an electronic security systems manufacturer based in South Korea launched a series of easily deployable edge AI cameras. This state-of-the-art series of cameras incorporates the firm's proprietary Idis Deep Learning Engine, demonstrating its dedication to providing scalable solutions for safety, security, and operational needs. These cameras, encompassing new models of 5MP dome (DC-D4537RXA and DC-D4537HRXA) and bullet (DC-T4537HRXA), are furnished with the potent Idis Deep Learning Engine, facilitating highly efficient processing power at the edge. At a 98% accuracy rate for object detection and classification, these cameras aid users in reducing false alarms, enhancing safety and security protocols, and augmenting the worth of their surveillance practices, thereby extending the firm's range of high-definition Direct IP cameras compliant with the NDAA (National Defense Authorization Act).
Who Are the Key Players In The Electronic Security Market?
Major companies operating in the electronic security market are:
• Siemens AG
• Panasonic System Networks Co. Ltd.
• IBM Corporation
• Honeywell International Inc.
• Johnson Controls International Plc
• Tyco International Plc
• Hangzhou Hikvision Digital Technology Co. Ltd.
• ADT LLC
• Dahua Technology Co. Ltd.
• Allegion Plc
• dormakaba Holding AG
• Assa Abloy AB
• Axis Communications AB
• Bosch Security Systems Inc.
• Chamberlain Group Inc.
• HID Global
• Brinks Home Security
• Avigilon Corporation
• Genetec Inc.
• Milestone Systems A/S
• G4S PLC
• Fermax Electronica S.A.U.
• CP PLUS GmbH & Co. KG
• Autoclear LLC
• DoorKing Inc.
• BIO-key International Inc.
• ISONAS Security Systems Inc.
• FLIR Systems Inc.
• Mobotix AG
What Is The Most Dominant Region In The Electronic Security Market?
North America was the largest region in the electronic security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
