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Growing adoption of security systems in government, military, police, and other sectors are some of the primary driving factors in market expansion. The rising incidences of theft and vandalism in public places, such as airports, train stations, ports, malls, convenience stores, hotels, and other locations are expected to drive demand for advanced security systems over the forecast period. Over the forecast period, a significant presence of large security system providers in the country, who offer expertise in system integration, risk assessment and analysis, and maintenance and support to diverse organisations, is expected to propel the market expansion. A key advantage of this sector is that video surveillance systems can be wire-free. As a result, these technologies are likely to replace traditional security systems in the forecast period. Video surveillance also provides interactive monitoring, real-time alerts, proof for authorities, increased accessibility, and increased productivity. Due to the necessity for frequent maintenance after installation, the maintenance and support market is expected to increase significantly. Over the forecast period, demand for these services is expected to rise. With the increasing number of developments in video capture, providers are being encouraged to release new upgrades in a shorter amount of time and with higher quality. This opens more opportunities for the security market to expand.
The demand for security systems is rapidly increasing due to urbanisation and development. Infrastructure sites, such as utility substations and transportation hubs, have higher safety requirements; therefore, companies are launching devices to enhance safety. For example- In December 2020, FLIR Systems, Inc. (NASDAQ: FLIR) announced the launch of three dome-like surveillance Pan-Tilt-Zoom (PTZ) cameras, the FLIR ElaraTM DX-Series and FLIR SarosTM DM-series, along with high-resolution visible cameras for safe city deployments, the FLIR QuasarTM 4 KIR PTZ.
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The major players in the United States security industry include Ameristar Perimeter Security, Barrier1 Systems, LLC., Delta Scientific Corporation, EL-Go Team, and Teledyne FLIR LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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