Market Overview

Electronic Security Products to 2021: US Market Forecasts by Product and End-User - System Upgrades and New Construction Activity Drive Security Spending - ResearchAndMarkets.com

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The "Electronic
Security Products US Market Forecasts by Product and Market"

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This industry study presents historical demand data (2006, 2011, and
2016) and forecasts (2021) by product (alarms, video surveillance
equipment, access controls, contraband detection systems, electronic
article surveillance systems), and market (nonresidential, consumer).

The study also evaluates company market share and provides analysis on
industry competitors, including:

  • Canon
  • dorma+kaba
  • Hangzhou Hikvision
  • Honeywell International
  • Johnson Controls
  • Robert Bosch
  • Smiths Group
  • United Technologies

System Upgrades and New Construction Activity Drive Security
Spending

Gains will result from demand for upgraded security systems as new
technologies come on line. Additionally, sales will be aided by growing
construction activity in both the residential and nonresidential
markets, as many security systems are installed during or shortly after
initial construction.

Security System Installations Balance Perceived Risk of Crime,
Convenience & Cost

The decision to purchase an electronic security system depends on a
number of factors, key among them being the end-user's perceived risk of
crime, as well as the convenience and cost of the system. This balance
varies significantly between end-users. For example, nonresidential
users with high security risks (e.g., trade and distribution facilities
that house goods and/or cash onsite or air transport facilities) are
much more likely to invest in comprehensive electronic security systems,
such as integrated video and alarm systems, electronic article
surveillance, and contraband detection.

Most homeowners and low risk nonresidential users, on the other hand,
typically invest in basic systems, such as intrusion alarms or a single
camera. Nonetheless, products that offer greater affordability and ease
of use have worked to bring new end-users into the market. For example,
there has been rising interest in self-installed, self-monitored alarms
and video cameras among consumers who typically would not purchase a
full-service system.

Interoperability, Flexibility, & Other Technological Advances
Continue to Drive Gains

Technological advances continue to play a significant role in driving
demand for electronic security products. For example, shifts in
technology have driven system updates in a number of segments within the
industry, including:

  • the shift from legacy analog to digital, Internet Protocol (IP) video
    surveillance systems
  • the shift away from basic card-based access control technologies such
    as magnetic stripe and proximity types to more secure technologies
    such as smart cards and biometrics

Furthermore, sales of upgrade products will benefit from the
introduction of products that offer a variety of improved
characteristics, such as:

  • ease of operation
  • durability
  • cyber-hardened components
  • greater flexibility and interoperability with other systems

Interoperability, in particular, continues to be a key consideration.
End-users are willing to adopt systems that are capable of working not
only with other types of security systems, but also with others such as
building operations. Such systems may also allow end-users to leverage
the data gathered to improve business operations or increase profits,
supporting spending on these traditionally non-revenue generating
systems.

For more information about this report visit https://www.researchandmarkets.com/research/rsrpr7/electronic?w=4

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