Electronic Security market in China will continue to grow at a considerable pace in the next few years with growing demand from different end-user segments including government, commercial, industrial and residential. The market is predicted to grow at a CAGR of 16.4% from 2015-2019 and is expected to cross USD 8 billion by 2019. Rising income of individuals, rising security concerns due to increasing criminal and terrorist activities, growing demand from the residential sector and infrastructural development will drive the growth of the industry in the future. The introduction of advanced electronic security equipments by companies aiming to explore the possibility of innovative technologies which are simple to use, cost-effective and advanced is expected to drive the market growth in the future.
Furthermore, IP-based video surveillance systems are expected to drive the growth of video surveillance systems by enlarging the sales of analog based systems. On the other hand, biometric based access control systems will gain more popularity and contribute a significant share to the market revenue by 2019. Technologies such as RFID and smart cards are expected to gain tremendous growth in the forthcoming years. Integrated electronic security systems designed by combining multiple security systems will be deployed to enhance efficiency and improve security infrastructure. Increased investments will be made by different verticals to upgrade their security systems and incorporate latest technology devices.
“Technology innovation is an integral contributor to the success of any organization. Companies have to upgrade their technology and products so as to add value to its products and to have an edge over their competitors. Large companies devote adequate time and manpower in R&D and innovation and thus are able to evolve with the changing technology, while small and local companies that fail to upgrade their products or adopt advanced technologies are unable to compete in the market. Additionally, international firms still face the risks related to intellectual property when developing and manufacturing products in China. This is due to the lack of transparency within the legal system and the weak enforcement of intellectual property rights.”, according to the Research Analyst, Ken Research.
The report titled "China Electronic Security Market Outlook to 2019" provides detailed overview on the Electronic Security Market and helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, software vendors, system integrators and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.