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UK Electronic Security Market Share to Worth Over USD 11 bn by 2026
Published Date: 2020-03-09
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According to the Graphical Research new growth forecast report titled “UK Electronic Security Market Size By Product, Application, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026” Estimated To Exceed USD 11 Billion By 2026. The UK electronic security market growth can be attributed to rapid industrialization, hefty government investment, rise in organized crimes, and increasing penetration of home security solutions. Changing consumer preference toward luxury and high-priced goods is driving market demand for home security solutions, encouraging the installation of high-quality smart locks for enhancing perimeter security. The advent of devices, such as Yale Conexis L1 Smart Door Lock, is enabling users to secure homes without the need for a key.
The surveillance & alert systems segment in the UK electronic security is expected to witness strong demand over the forecast timeline due to increasing use in public places such as malls, bus stations, and airports. Variations in closed-circuit televisions, such as HD CCTV, analogue CCTV, ANPR systems, and video analytics, cater to requirements from several applications. Reducing costs of components and raw materials result in the declining prices of the equipment, propelling the market demand. Furthermore, advancements, such as night vision cameras, are expected to positively impact the demand for surveillance and alert systems. For instance, the Mini Cube high definition camera, developed by Ezviz Inc., features a rugged, moisture-resistant exterior, and up to 30 feet of night vision, which makes it a perfect fit for several outdoor applications.
The environmental segment in the market is estimated to witness over 9% CAGR during the forecast period due to increasing unforeseen instances of forest fires, cyclones, flash floods, and other environmental disasters. For instance, in March 2018, the UK was affected by the storm Emma combined with strong winds, drifting snow, blizzards, and bitter cold causing death & disruption in the country. Similarly, in June 2018, the country witnessed a series of wildfires, which continued throughout the summer. To combat these, the adoption of environmental surveillance systems, such as UAVs & thermal sensors for quick identification of massive drops in temperatures and sending of alerts & alarms to conduct mass evacuations in times of need, is increasing.
Market players operating in the market are focusing on robust research and development activities in order to provide innovative solutions to their customers. For instance, in January 2020, ADT Corporation launched ‘Blue by ADT’ in which the company revamped its cameras and provided Alexa-enabled features to its indoor cameras, outdoor cameras, and doorbell cameras.
Market players are also focusing on strategic alliances to offer advanced electronic security solutions and increase their market penetration. In 2016, Johnson Controls, Inc. merged with Tyco and formed Johnson Controls International PLC. The company focusses on integrated electronic security systems and integrated fire detection & suppression systems. The merger of Tyco International and Johnson Controls has unified best-in-class technology in fire, security, safety, controls, power, and energy storage solutions. The company caters to commercial buildings, large institutions, industrial, retail, small businesses, and residential buildings.
The UK electronic security research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD million from 2020 to 2026, for the following segments:
Market Share, By Solution
- Access and control system
- Surveillance and alert system
- Anti-theft system
- Antiterrorist and inspection equipment
Market Size, By Application
- Public sector
- Infrastructure (A, R, R)
- Municipal Building
- Custom service sector