Global Electronic Security Industry to hit $60bn by 2024

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Electronic Security Market to cross 60bn by 2024
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Key Insights from Electronic Security Market

• Electronic Security Market size was estimated at
  approximately USD 27 billion in 2016, and set to
  exceed USD 60 billion by 2024 according to a new
  research report by Global Market Insights, Inc.
  The state and central governments of various
  countries are placing high focus on the
  development and adoption of advanced systems in
  high-traffic locations such as public roads,
  transit stations, and malls, contributing to the
  growth of the electronic security market.
• For instance, the Indian government in 2014 set
  up a USD 125 million fund solely devoted to the
  prevention of sexual violence among women through
  the installation of security equipment such as
  surveillance systems at high-risk public
  locations. These hardware systems are equipped
  with video analytics and advanced algorithms that
  allow the detection of criminals. Furthermore,
  technological advancements have also aided in the
  improvement of existing technologies such as
  high-resolution 4k cameras and IP surveillance
  units.
• Crime rates across the world are heavily impacted
  with the rising penetration of these systems in
  residential and commercial settings and is
  anticipated to drive the electronic security
  market growth.

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Continued...

• End-users across the world are replacing
  conventional security systems such as guards and
  physical body checks with high-tech solutions.
  Physical body checks in malls and airports can be
  cumbersome and increase customer discomfort,
  primarily among women. X-ray body scanners, on
  the contrary, requires the person to pass through
  an electronic frame.
• The rising trend of the development of smart
  cities in countries such as China and India is
  contributing to the high growth of the electronic
  security market. For instance, the Chinese
  government has undertaken large construction
  projects for the development of smart cities
  imbued with advanced security solutions in cities
  such as Dalian, Hangzhou, Nanjing, and Tianjin.
  The rise in traveler population across the world
  is also leading to the growth of the electronic
  security market.
• The surveillance and alert system market is
  anticipated to exhibit substantial growth during
  the forecast timeframe. The reduction in
  component and raw material costs is contributing
  to the decline in the electronic security market
  price trend.

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Latest Research Report On Electronic Security
Market _at_ http//bit.ly/2zF8hk6 Request for a
sample of this research report _at_ https//www.gmins
ights.com/request-sample/detail/2132
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China airport security market size, by
technology, 2016 2024 (USD Million)

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Regional Analysis

• Remote monitoring systems are increasingly
  finding application in developed regions such as
  U.S and Western Europe. Installing a home
  security solution with remote monitoring
  capabilities allows the homeowner to access
  security cameras and video units situated inside
  the residential location in real-time.
  Public-sector applications are the largest
  revenue-generating segment. Various government
  bodies are making use of advanced solutions for
  surveillance and criminal detection applications.
  For instance, in September 2017, a police
  department in Arkansas was reported to be using
  drones for highly specialized missions such as
  the tracking of a suspect or obtaining an inside
  view and additional information in a hostage
  situation.
• The North America electronic security market is
  projected to dominate the global business
  landscape owing to the government initiatives to
  integrate these systems into their public safety
  segment. For instance, the FAA Modernization and
  Reform Act of 2012 contains provisions to make
  the unmanned aerial systems (UAS) licensing
  process easier and quicker for law enforcement
  officials. Various U.S states are currently
  conducting trial operations on drones to
  understand their capabilities and their
  operational efficiency.

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Major Companies in Electronic Security Market

• Axis Communications
• BOSCH Security Systems
• Hitachi Ltd
• OSI Systems Inc.
• SDMS Security Products UK Ltd.
• Siemens AG
• MilliVision Technologies
• ASSA ABLOY
• Scanna MSC Ltd.

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