30 January 2021
Visiongain has published a new report on Industrial Security Systems Market Report 2021-2031: By System (Video Surveillance Systems, Personnel Identification Systems, Vehicle Identification Systems, Intrusion Detection Systems) By Technology (Sensing, Imaging, Scanning) By End-Use (Tourism & Recreation Industry, Transportation Industry, BFSI Industry, Health Care Industry, Defense Industry, Manufacturing Industry) and Leading Regional/ Country market analysis.
Global industrial security systems market is estimated to be valued at US$ xx billion in 2021 and is projected to grow at a CAGR of xx% to reach a market value of US$ xx billion by 2031. Industrial security systems market has been witnessing strong growth over the past few years on account of increasing deployment of CCTVs, fire alarms, biometric systems across all the corporate offices and manufacturing units. Companies have been focusing on improving safety at the work places resulting in huge demand for industrial security systems over the recent past and the trend is expected to continue over the forecast period. Since 2016, number of registered companies in US is increasing by an average of 2.6% every year. Security systems such as biometrics, fire alarms and CCTVs are some of the basic infrastructures for any company in order to ensure safety and track their employees work hours. In addition, companies are also investing on advanced technologies such as smart card systems, electronic locks and RFID systems among others which are further expected to boost the spending on industrial security systems market over the forecast period.
Emerging economies such as India and China are some of the major investing countries on industrial security systems owing to strong industrial growth in these countries. Increasing number of manufacturing businesses, startups, and service-based companies in these countries is one of the major factors driving the market for industrial security systems. In addition, defense forces in China and India are also investing significantly on procuring security systems such as video surveillance systems, Network jammers, explosive detectors, smoke sensors, fire safety systems, and evacuation systems among others.
COVID-19 Impact on Industrial Security Systems Market
The COVID-19 outbreak has created a huge impact on industrial growth across the globe. Imposition of lockdown has resulted in majority of the IT based companies to develop work from home infrastructure to continue to generate business output from their employees. Majority of the countries are still maintaining partial lockdowns with necessary guidelines which has reduced the movement of human beings and vehicles in public places to contain the spread of COVID-19 virus. Incorporation of new companies is one of the major factors to drive the market for industrial security systems market. However, due to the spread of COVID-19 virus, companies are moving towards work from home trend which is expected to considerably effect the market growth in coming years. In addition, footfall in commercial complexes, entertainment zones (such as movie theatres, shopping malls, gaming zones, etc) has also reduced considerably in the recent past, which is also expected to inhibit the market growth over the forecast period.
Some of the company’s profiled in this report include The Bosch Group, Cisco Systems, Inc., L-3 Communications Holdings, Honeywell International Inc, Securitas AB, Siemens AG, Johnson Controls, Inc., Tyco International Ltd., Schneider Electric SE, Alliance Systems Integrators, Inc.
• In August 2019, US police forces has entered into partnership with doorbell-camera company Ring to enhance surveillance capabilities across the US and making every neighborhood a safer place. Under this partnership, police can request any home owner to share access to their live video recording at any specific time and area. Ring will install millions of interconnected cameras, which will help n improving surveillance capabilities across the country.
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