Market Research Future published a research report on “Security Systems Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The security systems market is growing at a positive rate including the wireless and electronic security systems. Many various dynamic and diversified international organizations having global presence and remotely connected, regional organizations dealing mainly in commercial spaces and as well as new entrants. The key leaders in the market are continuously innovating and investing in the Research and Development and cost effective portfolio. This is majorly due to emerging economies such as China, India and Japan investing more in defense and automation in industries like retail, Banking & Finance and Transportation. However, North America is the leader in the Security System Market largely due to the factors like early adoption towards industrial automation and highly advanced Aerospace & defense industry.
Many large organizations having remote connectivity in their worldwide offices are investing much more in wireless and electronic security because of a huge threat of internet based applications and cyber-attacks to prevent the sensitive and confidential data.
The security system holds some of the major and diversified key players such as Cisco systems Inc (US), ASSA Abloy (Sweden), FLIR systems (US), Bosch security systems (Germany), ADT Corporation (US), Brocade communication systems Inc (US), Honeywell International, Inc (US), Symantec Corporation (US) and Fortinet (US).
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Segments For the purpose of this study, Market Research Future has segmented the market of Industrial Cyber Security into product, solutions, industries, organization size and region.
End – User
The Security Systems Market is expected to grow at a fast pace over the forecasted period of 2017 -2023. Security systems market is a dynamic and very highly growing market in terms of wireless industrial security, electronic security, smart devices (smart cards, smart locks and alarms), connected home security and Asset tracking. This study encompasses the security concerns against the illegal activities is moving a major trend towards electronic and wireless security. More and more devices being connected under IoT and enablement of remote connection is another driving factor for Security systems market. Companies in North America are highly concerned for industrial automation resulting in prone to cyber-attacks.
The Security system market is majorly segmented into four regions namely North America, Europe, Asia Pacific and Rest of the world. Of North America, United States is the leader in terms of industrial security having usage of radar systems, access control management. This is due to the factors like early adoption towards industrial automation and highly advanced Aerospace & defense industry. Germany, France, UK and Sweden in the European continent are following the trails of United States. In the Asia pacific region, major emerging economies like China, India and Japan are investing more in defense and automation in industries like retail, Banking & Finance and Transportation.
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