As per Market Research Future Analysis, the Global Electronic Security System Market was valued at USD 9.6 Billion in 2023 and is projected to reach USD 21.09 Billion by 2032, growing at a CAGR of 9.01% from 2024 to 2032. The market is driven by increased demand for electronic security systems, internet monitoring systems, and government investments in security projects. The video surveillance segment leads in revenue, while the access control segment is expected to grow the fastest. The BFSI sector generates the most income due to rising threats, and the government segment is anticipated to grow rapidly as well.
The electronic security system market is experiencing significant growth driven by various factors.
Key players include 3D Datacom (US), Bosch Security System (Germany), Honeywell International Inc. (US), Panasonic System Networks Co. Ltd. (Japan), and CyberLink Corp. (Taiwan).
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for electronic security systems is driven by the rising number of commercial establishments, governmental organizations, manufacturing industries, etc., adopting electronic security systems. Additionally, the necessity for security systems in private and public spaces has increased due to increased robberies, terrorist attacks, malpractice, illicit activities, etc. This is anticipated to support the growth of the market.
In addition, there is a growing need for internet monitoring systems, access systems, and IP-based surveillance due to the rise in online and internet crimes. The amount that various government agencies spend on security systems has increased. The availability of various electronic security systems in various price ranges is anticipated to drive the global electronic security market.
Another aspect that stimulates growth is the growing use of electronic security systems in business buildings, shopping centers, and residential flats. Electronic security is also very useful in business operations for protecting data confidentiality and detecting unauthorized access to information relevant to the business. The expansion of urbanization and the construction of smart cities has led to the acceptance of electronic system tools because they provide reliable and secure services. These elements are anticipated to drive the Electronic Security System market revenue.
The Electronic Security System Market segmentation, based on type, includes access control, intrusion detection, vehicle security, and video surveillance. The video surveillance segment dominated the market, accounting for the maximum market revenue. The video surveillance segment is growing due to improvements in digital video cameras for surveillance that provide better viewing angles and higher resolution. Demand is also boosted by how user-friendly these systems are, allowing consumers to access their surveillance feeds on PCs, smartphones, and tablets anywhere in the world. Additionally, the availability of recorded or live broadcasts contributes to segment growth.
The access control segment is anticipated to be the fastest-growing segment in the projected period. A combination of factors, including technological advancements like voice-activated gadgets and integration with connectivity technologies like Bluetooth, GPS, and Wi-Fi, and increased use of automated gates, barriers, and turnstiles on roadways and in airports are boosting demand for the access control segment.
The Electronic Security System Market segmentation, based on end-user, includes Healthcare, Residential, Industrial, BFSI, and Government. The BFSI category generated the most income due to rising information thefts, burglaries, cyber-assaults, and increased physical and digital dangers. System learning, synthetic intelligence, and blockchain have all seen rapid adoption in several BFSI sectors, posing serious threats to data security. Additionally, as banks, other financial institutions, and other enterprises transition to digitalized business operations, the adoption and use of electronic security systems have grown significantly.
The government segment is anticipated to be the fastest-growing segment in the projected period. Governments are investing much money to combat the rising crime rate globally. The use of widespread surveillance systems has made it easier to find criminal suspects.
Figure 1: Electronic Security System Market, by End-User, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Electronic Security System market area will dominate this market, owing to an increase in the number of retail stores. In addition, with the growing number of international retail stores and the rising awareness of the necessity to combat retail shrinkage, electronic security devices such as video surveillance systems and alarms will be installed more often, boosting the market growth in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Electronic Security System Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Electronic Security System market accounts for the second-largest market share due to the increasing demand for electronic security systems. Further, the German Electronic Security System market held the largest market share, and the UK Electronic Security System market was the fastest-growing market in the European region.
The Asia-Pacific Electronic Security System Market is expected to grow at the fastest CAGR from 2023 to 2032 due to growing public spending on smart city projects, such as smart surveillance and monitoring. These projects' main aim is to enhance urban safety and security, improve traffic flow, and optimize resource allocation, among other things. Moreover, China’s Electronic Security System market held the largest market share, and the Indian Electronic Security System market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing greatly in research and development to develop their product lines, which will help the Electronic Security System market, grow even more. Market participants are also undertaking several strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Electronic Security System industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Electronic Security System industry to benefit clients and increase the market sector. In recent years, the Electronic Security System industry has offered some of the most significant advantages to electronic security. Major players in the Electronic Security System market, including 3D Datacom (US), Bosch Security System (Germany), 3VR Security Inc. (US), Honeywell International Inc. (US), A and B Security Group (US), Panasonic System Networks Co. Ltd. (Japan), Sony Corporation (Japan), Alfredcamera (US), CyberLink Corp. (Taiwan), and others, are attempting to increase market demand by investing in research and development operations.
AlfredCamera has been led from the beginning by the conviction that everyone should have access to home security. 2014 the company began by providing a software solution that transforms an outdated phone into a security camera. Since then, more than 50 million households worldwide have used this straightforward but effective concept as their primary security software. For instance: in July 2022, Home security mobile app provider AlfredCamera announced the release of AlfredCam, its first security camera. The feature-rich 1080p Wi-Fi security camera is available for pre-order in the US via the AlfredCamera app, expanding the service options beyond home security software to hardware devices.
CyberLink Corp., established in 1966, is the industry pioneer in AI facial recognition technology and multimedia software. The firm has developed to revolutionize the multimedia experience and consistently produce unique and interoperable solutions. It is the owner of over 200 patented technologies. Since the beginning, PowerDVD has been a flagship product. It has won multiple “World’s First” awards, including being the first Windows PC-compatible DVD, Blu-ray, and UltraHD Blu-ray player. CyberLink’s U Suite offers simple and effective solutions for messaging, online conferences, and live broadcasting across devices and platforms, enabling one-on-one communication, small-team collaboration, and big-group presentations. For Instance: In April 2022, CyberLink Corp. announced its FaceMe Security Facial recognition security program would be integrated with an Axis Camera station. End-to-end integration seamlessly combines live stream monitoring and group tagging, bringing FaceMe’s facial recognition functionalities to Axis camera and VMS configurations.
3D Datacom (US)
Bosch Security System (Germany)
3VR Security Inc. (US)
Honeywell International Inc. (US)
A and B Security Group (US)
Panasonic System Networks Co. Ltd. (Japan)
Sony Corporation (Japan)
AlfredCamera (US)
CyberLink Corp. (Taiwan)
Access Control
Intrusion Detection
Vehicle Security
Video Surveillance
Healthcare
Residential
Industrial
BFSI
Government
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Attribute/Metric | Details |
| Market Size 2023 | USD 9.6 Billion |
| Market Size 2024 | USD 10.57 Billion |
| Market Size 2032 | USD 21.09 Billion |
| Compound Annual Growth Rate (CAGR) | 9.01% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 3D Datacom (US), Bosch Security System (Germany), 3VR Security Inc. (US), Honeywell International Inc. (US), A and B Security Group (US), Panasonic System Networks CO. Ltd. (Japan), Sony Corporation (Japan), AlfredCamera (US), CyberLink Corp. (Taiwan) |
| Key Market Opportunities | Rising investment in making smart cities to enhance the demand for advanced use of security |
| Key Market Dynamics | Increasing demand for electronic security system Rising demand for CCTV and video surveillance |
Electronic Security System Market Highlights:
Frequently Asked Questions (FAQ):
The Electronic Security System Market size was valued at USD 9.6 Billion in 2023.
The global market is projected to grow at a CAGR of 9.01% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market are 3D Datacom (US), Bosch Security System (Germany), 3VR Security Inc. (US), Honeywell International Inc. (US), A and B Security Group (US), Panasonic System Networks Co. Ltd. (Japan), Sony Corporation (Japan), AlfredCamera (US), CyberLink Corp. (Taiwan).
The video surveillance category dominated the market in 2022.
The BFSI had the largest share of the global market.
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Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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