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Global Smart Security Market 2016-2020

Global Smart Security Market 2016-2020

Market Study
Published: October 2016
Pages: 64
Research from: TechNavio
Sector: Information & Communications Technology

From: GBP 2729.00
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This market research report analyzes the key players in the global smart security market such as Axis Communications, Bosch Security Systems, Honeywell Security, NICE Systems (Qognify), and Tyco International. The report also presents a competitive analysis of the market by product type, by end-user, and by geography.

Global outlook of the smart security market

Technavio’s market research analysts predict the global smart security market to grow steadily during the next four years and post an impressive CAGR of more than 22% by 2020. This industry research report identifies the shift in 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 coming years. IP cameras are flexible and can be easily installed and adapted to the changing needs of customers. They also provide additional benefits such as easy integration with existing security devices and reduced total cost of ownership. Moreover, these cameras have built-in servers or encoders and provide multi-level user access control preventing third-party manipulation. Since they come as cost-effective solutions, several commercial facilities such as stadiums and hotels and city surveillance projects, will start replacing their analog cameras with IP cameras, which will subsequently drive the demand for smart security solutions in the next few years.

This market research and analysis predicts that in terms of geographical regions, North America will be the major revenue contributor to the smart security market throughout the next four years. Increasing investments from the government of the US to strengthen their defense and security systems and the introduction of safety standards by the US Federal Energy Regulatory Commission to strengthen the safety of critical infrastructures, will increase the adoption of smart security systems in this region.

Competitive landscape and key vendors

The market is characterized by the presence of several small- and large-scale smart security system vendors and appears to be highly fragmented. The rise in demand for smart security solutions from smart cities, smart homes, and commercial buildings will attract new players to the market. This will consecutively result in intensifying the level of competition among existing vendors. An increase in product/service extensions, technological innovations, and M&A will also intensify the already competitive environment. To sustain the competition and retain market shares, vendors have the need to develop new technologies and distinguish their product and service offerings through a clear and unique value proposition. Moreover, the market will also witness the international players growing inorganically by acquiring regional or local players.

The leading vendors in the market are -

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

The other prominent vendors in the market are Anixter, ASSA ABLOY, AxxonSoft, FLIR System, Genetec, Hanwha Techwin, March Networks, Schneider Electric, S2 Security, and Swann.

Segmentation by product type and analysis of the smart security market

  • Access control contactless smart cards
  • Smart intruder alarms
  • Intelligent video surveillance, intelligent video analytics, and smart cards

During 2015, the surveillance systems segment that consists of intelligent Video Survelliance intelligent video analytics, and smart cards dominated the market. The increasing adoption of video surveillance systems owing to the rise in instances of criminal activities in various end-user sectors including commercial, residential, transportation, education, and healthcare, will drive the growth of the market during the next four years.

Segmentation by end-users and analysis of the smart security market

  • Commercial
  • Residential
  • Utility infrastructure

According to this market study, the commercial segment will dominate the market throughout the next four years.  Factors such as employee theft, property crime, and information security will result in a rapid increase in the adoption of security systems such as intruder alarms, video surveillance, and access control systems, which will bolster the market’s growth prospects in the coming years.

Smart security system deals with solutions that monitor and track behavioral patterns of people in those areas that are susceptible to unauthorized access or damage such as enterprises, commercial building, educational institutions, and utility infrastructures. Some of the advanced smart security solutions include biometric access control systems, IP surveillance cameras, wireless alarms, and integrated perimeter intrusion prevention systems. Through timely alerts, the deployment of smart security solutions helps end-user to be prepared for different threat, such as thefts, terrorism, warships, accidents, and natural disasters. These intelligent security solutions not only offer security but also enhance the confidence of people residing in vulnerable areas for their safety.

 

The report, global smart security market, is part of Technavio’s ICT research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automatic identification system, cloud computing, data center, enterprise application, IT security, ITO and BPO, and product lifecycle management. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.

 

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