DUBLIN, October 22, 2021--(BUSINESS WIRE)--The "Electronic Security Systems (ESS) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Electronic Security Systems (ESS) estimated at US$45.8 Billion in the year 2020, is projected to reach a revised size of US$70.4 Billion by 2027, growing at a CAGR of 6.3% over the analysis period 2020-2027.
CCTV & Video Surveillance Systems, one of the segments analyzed in the report, is projected to record a 8.7% CAGR and reach US$36.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Alarms segment is readjusted to a revised 3.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $12.4 Billion, While China is Forecast to Grow at 10.2% CAGR
The Electronic Security Systems (ESS) market in the U.S. is estimated at US$12.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.7 Billion by the year 2027 trailing a CAGR of 10.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Electronic Access Control Systems Segment to Record 7.5% CAGR
In the global Electronic Access Control Systems segment, USA, Canada, Japan, China and Europe will drive the 6.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.5 Billion in the year 2020 will reach a projected size of US$7.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9.5 Billion by the year 2027, while Latin America will expand at a 8.9% CAGR through the analysis period.
Select Competitors (Total 227 Featured):
ASSA ABLOY AB
Axis Communications AB
Bosch Security Systems
Brinks Home Security
Changzhou Minking Electronics Co. Ltd.
CP PLUS GmbH & Co. KG
Dahua Technology Co. Ltd.
Diebold Nixdorf, Inc.
dormakaba Holding AG
Fermax Electronica S.A.U.
Global Security Solutions
Hangzhou Hikvision Digital Technology Co. Ltd.
Hanwha Techwin Co. Ltd.
Honeywell International, Inc.
Johnson Controls plc
March Networks Corporation
NEC Corporation of America
Nortek Security and Control LLC
Pelco by Schneider Electric
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Electronic Security Systems: Safeguarding People, Resources and Infrastructure
Recent Market Activity
Emerging Trends & Technologies in Electronic Security Market
Biometrics goes Mainstream
Edge Intelligence Technology
Convergence of IT and Security
Integration of Security Systems with Mobile Technology
Focus on Enhancing User Experience
Cloud Technology for Managing Critical Business Information
Near-field communications (NFC)
IP Networked Devices
Global Market Outlook
Rising Demand for CCTV & Video Surveillance Systems to Spearhead Market Growth
Security Needs of the Public Sector Propels Demand for Electronic Security Systems
Developed Regions Lead the Global ESS Market
Developing Regions Offer Significant Market Growth Opportunities
Market Fortunes Strongly Linked to Performance of the Global Construction Industry
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Advanced IP-Based Digital Networked Video Solutions Drive Strong Growth for CCTV and Video Surveillance Systems
IP-Based Video Surveillance: Myriad Benefits to Drive Market Growth
Deep Learning: Intelligent Audio/Video Analytics Solutions
Adoption of Higher Resolution HD Cameras
Government: Dominant Application Sector for CCTV and Video Surveillance Systems
VSaaS Market to Exhibit Strong Growth
Emerging Trends in Video Surveillance Systems Market
Other Major Trends, Drivers, Challenges & Opportunities Summarized
Game Changing Trends and Technologies Drive Growth in Demand for Electronic Access Control Systems
Growing Need to Establish a National Identity
Major Technology Trends in Electronic Access Control Systems (EACS)
Strong Smartphone Proliferation and the Resulting Need for Anytime, Anywhere Access Drive Market Adoption
Alarming Increase in Cyber Crime, Cyber Frauds, and Cyber Security Threats Lends Traction to Market Growth
Possible Defensive Measures against Cyber Crimes
Electronic Locks Disrupt the 'Conventional and Mechanical' Blacksmith Services
Upcoming Smart Cities to Fuel Large-Scale Adoption
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/wbasaa
View source version on businesswire.com: https://www.businesswire.com/news/home/20211022005422/en/
Laura Wood, Senior Press Manager
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