Research and Markets has announced the addition of the ‘Global Smart Security Market 2015-2019’ report to their offering.

The global smart security market to grow at a CAGR of 18.59% over the period 2014-2019. It is their opinion, leading vendors such as Axis Communications, Bosch Security Systems, Cisco Systems, Honeywell Security, NICE Systems and Tyco International will dominate during this period.

According to Research and Markets, the report also provides a forecast and analysis of end-users, such as residential users, commercial sector, utility sector, and government sector.

Market descriptions and landscapes for the global smart security market are provided. Because the market is highly fragmented, with many small and large vendors, this report does not include the market share of all vendors. Instead, it presents a list of key vendors and their detailed analysis.

The major drivers influencing the growth of the market, and the challenges faced by vendors and the market as a whole are also covered. Finally, we examine key trends emerging in the market, and assess their impact on current and future market scenarios.

Cloud-based video surveillance systems provide a more cost-effective solution for end-users to invest in. Moreover, end-users are not required to pay for the entire licensing cost of video analytics software. In a cloud model, end-users are only required to pay for what they use. One such example can be found in China, which is witnessing the growth of cloud-based video surveillance systems with the advent of cloud-based services. The quality of video has improved with high-bandwidth devices. In addition, the price at which these services are offered to end-users is low. Thus, many end-users are adopting cloud-based video surveillance systems as this is a good combination of the device providing security that is cost-effective.

According to the report, the increase in the number of terrorist attacks has forced many countries to adopt smart security solutions. To eliminate terrorist attacks and take precautions against border and terrorist attacks, the government of the US has taken initiatives to investigate and identify criminals, fostering the demand for smart security solutions such as video surveillance, access control systems, intruder alarms, perimeter intrusion prevention systems, and software in many countries. It has been observed that terrorism has increased significantly in the Philippines in the last few years resulting in the increased number of deaths from 2012-2013. Thus, the market has witnessed a rise in demand for smart security solutions because of the increased incidence of terrorist attacks in the past.

Further, the report states that uncertain economic conditions and the high price of smart security solutions may reduce their adoption among cost-conscious end-users such as SMEs in utility infrastructures and residencies.

The market size is calculated based on:

• Revenue generated from the sales of smart security products, including surveillance systems, access control systems, perimeter intrusion prevention systems, intruder alarms, and software
• Revenue generated from the Americas, EMEA, and APAC

Key Vendors

• Axis Communications
• Bosch Security Systems
• Cisco Systems
• Honeywell Security
• NICE Systems
• Tyco International

Other Prominent Vendors

• Anixter
• AxxonSoft
• DvTel
• Genetec
• Hikvision Digital
• March Networks
• Napco Security Technologies
• Panasonic System Networks
• Pelco
• Schneider Electric

If you’re interested in the report details, visit the source link.