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Global Market for Electronic Security Systems to Reach $62.5 Billion by 2018
Nov 07, 2012 (03:11 PM EST)
FARMINGTON, Conn., Nov. 7, 2012 /PRNewswire-iReach/ -- Security and safety are the key concerns for people from all walks of life. Where there is growing concern about threats from terrorism, crime, and natural disasters, demand for electronic security systems, biometric technologies and CCTV/video surveillance equipment is increasing. CCTV and video surveillance, fire alarm equipment or electronic security systems -- which of these three markets will be worth more by 2018?
Global Information Inc. (GII) is pleased to highlight three significant global strategic business reports from our premium market research partner, Global Industry Analysts, Inc. These reports profile major players competing in the global markets for fire alarm equipment, electronic security systems and CCTV and video surveillance equipment. The studies also provide a comprehensive review of market trends, drivers, challenges, competition, mergers and acquisitions activity, and market estimates and projections for key geographic markets.
Fire Alarm Equipment
The global Fire Alarm Equipment market is projected to reach $4.4 billion by the year 2018, driven primarily by the need to comply with the strict building safety regulations in place and the growing demand from burgeoning developing economies across the globe. Continued development of efficient and cost-effective solutions also bodes well for the future of this market.
Europe represents the largest regional market worldwide. Asia-Pacific region emerges as the fastest growing regional market with the revenues from the region projected to wax at a CAGR of 6.9% over the analysis period. Among the product segments, Fire Alarm Panels represents the largest product segment, while Fire Alarm Devices is the fastest growing product segment.
Major players profiled in the report Bosch Security Systems, Inc., Cooper Safety Inc., Fenwal Controls of Japan Ltd., Gentex Corporation, Hochiki Corporation, Hochiki America Corporation, Honeywell International Inc., Napco Security Technologies, Inc., Nittan Co. Ltd., Nohmi Bosai Ltd., Panasonic Electric Works Co., Ltd., Panasonic Eco-Solutions, Nordic AB, Siemens Building Technologies Group, Space Age Electronics, Inc., Tyco Fire & Security Inc., ADT Security Services, Plc., United Technologies Corporation, and UTC Fire & Security.
An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/go138665-fire-alarm.html
Electronic Security Systems
The global market for Electronic Security Systems (ESS) is projected to reach $62.5 billion by 2018. Bolstered by strong new construction activity, developing countries are poised to turbocharge growth in the market, counterbalancing the relatively weaker growth in developed economies, which continue to be saddled with conditions likely to persist into the foreseeable future, such as, widening fiscal deficits, depressed GDP growth, federal austerity measures, capital raising constraints, increased taxes and weak/anemic recovery of the construction industry. Recovery of the construction industry in the Eurozone region remains especially frustrated by the periodic flaring up of Europe's financial problems. Against this backdrop, Asia-Pacific, Russia and Latin America will drive growth in the next few years encouraged by burgeoning economies, increase in foreign investments, mushrooming of new business establishments and increase in crime rates.
The shift in preferences towards integrated electronic access control systems & advanced network systems is another noteworthy trend. Given their ability to enable the integration of existing access control systems with other security services, IP based open-architecture systems will witness increased demand in the next few years, thereby adding to the revenue stream. Access control systems that offer remote access via web browsers or virtual private networks (VPNs) are turning out to be highly popular among businesses organizations, especially SMBs, thereby driving access control system installations. Biometric technologies such as voice and face identification solutions, iris scanners, hand geometry systems, and fingerprint scanners also offer bright prospects for the biometric access control market.
An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/go138626-electronic-security.html
CCTV/Video Surveillance Equipment
Driven by an increasing focus on ensuring safety and security against unwarranted threats, the global CCTV/video surveillance equipment market is projected to reach $15 billion by the year 2018
Although escalating security concerns have been primarily driving demand for CCTV/video surveillance equipment, the role of technology innovation in driving new opportunities for the market cannot be undermined. Technology developments have always been a key market driver for electronic security systems market, CCTV/video surveillance segment in particular. The CCTV/video surveillance market witnessed several technological developments in the past, which have helped it evolve over the years. Given the consumers appetite for technologically superior, yet cost effective solutions, recent technology developments such as digital CCTV, IP based video surveillance, wireless cameras, integrated storage abilities, superior resolution cameras, infrared cameras with night vision, sophisticated image processing and identification capabilities, remote-monitoring, CCTV video analysis software, among others, have been well received in the marketplace.
An Executive Summary for this report and free sample pages from the full document are available at http://www.giiresearch.com/report/go138666-cctvvideo.html
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