Global Smart Security Market Expected to Grow at a CAGR of 22.58 % from 2016 to 2020

Published on : Nov 14, 2016

Albany, New York, November 11, 2016: Market Research Hub has broadcasted a latest report with deep focus on smart security market on a global platform. The report is titled as “Global Smart Security Market 2016-2020”. This study offers deep insight and analysis on the smart security industry in key regions of the world such as i North America, South America, Europe and Asia Pacific. Research analysts forecast that the global smart security market will grow at a CAGR of 22.58 % during the stated period as per the report.

The report highlights the overview of smart security market with the description of products and product lifecycle analysis. Smart security is one of the best solutions that are used to monitor the activity and behavior of the people present in enterprises, educational institutions, commercial buildings and utility infrastructures that are disposed to unauthorized access or damage. These solutions can help in reducing the criminal activities occurrence and instances of data theft. Smart security solutions include some innovative security systems such as IP surveillance cameras, biometric access control, integrated perimeter intrusion prevention systems, and wireless alarms. The research report identifies the movement of customer preference from analog to IP cameras to be one of the major factors that will have a positive impact on the growth of the smart security system market in the future years.

Further, the report describes the market segmentation. Through the deep analysis of the market, it is segmented by- product, end-user and by geography during the period of 2016-2020. During 2015, the surveillance system segment that consists of intelligent video surveillance methods, intelligent video analytics and smart cards had controlled the market. At present, the increasing adoption of video surveillance systems due to the rise in instances of criminal activities in various end-user sectors such as commercial, residence, education and healthcare will boost the growth of the market during the forecast period.

The report also includes brief discussion on the key and prominent vendors operating in this market. Prominent key vendors include:

  • Honeywell Security
  • Bosch Security Systems
  • Axis Communications
  • NICE Systems (Qognify)
  • Tyco International

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Other recognized vendors include- AxxonSoft, Anixter, ASSA ABLOY, FLIR System, Genetec, S2 Security, Hanwha Techwin, March Networks, Schneider Electric and Swann. It is also observed that continuous rise in the demand for smart security solutions from smart cities, smart homes and commercial buildings will attract new entrants to the market. This will sequentially result in escalating the level of competition among the key vendors who are running successfully in the global market.

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