According to the latest report by IMARC Group, titled “Electronic Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global electronic security market size reached a US$ 53.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 80 Billion by 2027, exhibiting a CAGR of 6.9% during 2022-2027.

The global electronic security market experienced double-digit growth during 2014-2019. Electronic safety is a system that utilizes embedded technology and electronic devices to improve safety measures and protect human life as well as physical assets. Some of the most common functions performed by the system include surveillance, access control and intrusion control. It comprises alarms and close-circuit televisions (CCTVs) that aid in monitoring entry points and denying access to unauthorized individuals from entering a certain area or accessing stored information. It is also employed in business operations for safeguarding confidential business data and tracking unauthorized access to business-related information and assets. As a result, it is extensively utilized across the manufacturing, transportation, banking, healthcare and government sectors.

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Global Electronic Security 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Axis Communications (Canon Inc.), ADT Security Services Inc. (Apollo Global Management Inc.), Bosch Security Systems Inc., FLIR Systems Inc., Hitachi Ltd., Honeywell International Inc., IBM Corporation, Tyco International (Johnson Controls), Lockheed Martin Corporation, OSI Systems, Siemens AG, Thales Group, etc.

The report has segmented the market on the basis of product Type, Service type, end user and Region.

Breakup by Product Type:

• Surveillance System
• Access Control System
• Intrusion Detection System
• Alarming System
• Others

Breakup by Service Type:

• Installation Services
• Managed Services
• Consulting Services

Breakup by End-Use Sector:

• Government