Connect with us

Technology

Smart Security Market size is set to grow by USD 49.20 billion from 2024-2028, Growing number of smart cities worldwide to boost the market growth, Technavio

Published

on

NEW YORK, June 10, 2024 /PRNewswire/ — The global smart security market  size is estimated to grow by USD 49.20 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 19.77%  during the forecast period.  Growing number of smart cities worldwide is driving market growth, with a trend towards emergence of iot in video surveillance. However, complex infrastructural requirements  poses a challenge. Key market players include ACPL Systems Pvt. Ltd., ADT Inc., Alarm.com Holdings Inc., Alphabet Inc., Anchor Technologies Inc., Comcast Corp., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Ingersoll Rand Inc., Integrity Communications Ltd., International Business Machines Corp., Johnson Controls International Plc., Legrand SA, Netgear Inc., Nippon Telegraph And Telephone Corp., NRG Energy Inc., Ring LLC, Samsung Electronics Co. Ltd., Smartfrog and Canary Holdings Inc., Tata Sons Pvt. Ltd., and Tech Mahindra Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies – View the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Surveillance systems, Intruder alarms, and Access control systems), End-user (Commercial, Residential, Utility infrastructure, and Government spending and others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

ACPL Systems Pvt. Ltd., ADT Inc., Alarm.com Holdings Inc., Alphabet Inc., Anchor Technologies Inc., Comcast Corp., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Ingersoll Rand Inc., Integrity Communications Ltd., International Business Machines Corp., Johnson Controls International Plc., Legrand SA, Netgear Inc., Nippon Telegraph And Telephone Corp., NRG Energy Inc., Ring LLC, Samsung Electronics Co. Ltd., Smartfrog and Canary Holdings Inc., Tata Sons Pvt. Ltd., and Tech Mahindra Ltd.

Key Market Trends Fueling Growth

The smart security market is experiencing a significant shift towards IoT technology in video surveillance. IoT-enabled cameras offer real-time footage transmission, integration with other devices, advanced threat detection, cost savings, and remote access. These benefits are driving businesses and organizations to adopt IoT-based security systems for enhanced protection and operational efficiency. The trend is expected to continue, fueling market growth in the forecast period. 

The residential and commercial burglaries continue to be a major concern for homeowners. Realtime alarm systems are becoming increasingly popular in the smart security market. These systems use devices such as motion sensors, door and window sensors, and security cameras to detect intrusions. The use of voice recognition technology and facial recognition is also on the rise. Devices can be connected to a central monitoring station for added security.

Security systems can be controlled through smartphones or other devices, providing homeowners with peace of mind. The market for smart security systems is expected to grow significantly in the coming years due to the increasing demand for advanced security solutions. The use of biometric authentication and the integration of artificial intelligence are expected to be key trends in this market. The importance of device connectivity and the ability to remotely monitor and control systems cannot be overstated. The market for smart security systems offers a range of solutions to meet various budgets and security needs. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The smart security market faces complex infrastructure demands, including high bandwidth for video surveillance data transmission and archiving. Industries require large storage capacities for analytics, making reliability a priority. Scalability is essential to accommodate increasing smart security needs and surveillance data volumes.High-quality 4K and ultra-high-definition video content necessitate high bandwidth for data transfer and cloud access. Connectivity issues in ICT infrastructure can negatively impact smart security solutions’ operational performance, potentially hindering market growth.The Smart Security Market faces several challenges in the implementation and maintenance of security systems. These include the need for advanced technology to combat new threats, the complexity of integrating various security solutions, and the importance of ensuring user privacy. Additionally, cost and the lack of standardization across different systems can pose significant challenges.Furthermore, the increasing use of cloud-based solutions and the need for real-time monitoring add to the complexity of the market. To address these challenges, companies must focus on developing user-friendly and cost-effective solutions that can adapt to new threats and integrate seamlessly with existing systems. They must also prioritize data privacy and security to build trust with their customers.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

Product 1.1 Surveillance systems1.2 Intruder alarms1.3 Access control systemsEnd-user 2.1 Commercial2.2 Residential2.3 Utility infrastructure2.4 Government spending and othersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Surveillance systems-  The smart security market’s surveillance systems segment experiences growth due to the rising adoption of digital surveillance solutions. This segment comprises cameras, video analytics, storage devices, access control systems, and alarms. Enterprises and governments prefer video surveillance for security purposes, leading to an increase in camera installations worldwide. The shift from analog to digital technology is a significant market trend.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Smart Security Market is experiencing significant growth due to the increasing need for advanced security solutions in various sectors. Biometric access systems and wireless alarms are becoming increasingly popular in both commercial buildings and finance facilities, as well as in smart homes and industrial segments. The integration of artificial intelligence (AI) and machine learning into security systems is revolutionizing the industry, enabling AI-powered security solutions for smart cities and urbanization plans.

The Internet of Things (IoT) is also playing a crucial role in this evolution, with smart surveillance systems and cloud-based security solutions becoming more prevalent. Key technologies include smart city infrastructure, automation, and CO listeners. TerraMaster’s Surveillance Manager is an example of an advanced security solution that utilizes these technologies to provide comprehensive security for data centers, enterprises, hospitality centers, warehouses, and other facilities. Smart home devices such as Google Assistants and thermostats are also contributing to the growth of the market.

Market Research Overview

The Smart Security Market encompasses a range of technologies and solutions designed to enhance security measures in various sectors. These include home security systems, commercial security systems, and industrial security systems. Smart security solutions utilize advanced technologies such as artificial intelligence, facial recognition, and biometric identification to provide robust security.

They offer features like remote monitoring, real-time alerts, and automated responses to ensure the safety and security of assets. The market is driven by the increasing need for advanced security solutions in the wake of rising security threats and the growing adoption of IoT devices. Additionally, government initiatives and regulations are also fueling the growth of the smart security market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSurveillance SystemsIntruder AlarmsAccess Control SystemsEnd-userCommercialResidentialUtility InfrastructureGovernment Spending And OthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/smart-security-market-size-is-set-to-grow-by-usd-49-20-billion-from-2024-2028–growing-number-of-smart-cities-worldwide-to-boost-the-market-growth-technavio-302167902.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

PropXP Launches, Redefining Prop Trading with Global Access

Published

on

By

PropXP Launches Global Prop Trading Platform, Empowering Traders with Flexible Challenges and Comprehensive Resources

HONG KONG, Nov. 10, 2024 /PRNewswire-PRWeb/ — PropXP, a new proprietary trading firm, is excited to announce its official launch on November 5, 2024, offering traders worldwide a unique and accessible approach to prop trading. With a focus on providing traders of all experience levels with attainable challenges and unparalleled resources, PropXP aims to reshape the prop trading landscape.

At PropXP, we’re breaking down barriers in prop trading to give every trader—from beginners to seasoned pros—the opportunity to succeed on their own terms. We’re here to empower and elevate the global trading community.

PropXP’s lineup includes both One-Step and Two-Step challenges, allowing traders to select a path that best aligns with their goals. Challenge prices range from just $30 for a $3,000 account up to $499 for a $100,000 account, making it possible for more traders to participate and advance their careers. Distinguishing itself from competitors, PropXP does not enforce a high watermark, a feature that allows traders to keep their focus on consistent growth without restrictive conditions.

“As we launch PropXP, our mission is clear: we aim to be the new gold standard for prop trading and open the doors for more traders than ever before to achieve their trading goals,” said Giorgos Piskopianos, CEO of PropXP. “Our accessible challenges, supportive trading resources, and commitment to providing realistic opportunities are at the heart of PropXP. We want to empower traders to reach new heights in their careers.”

In addition to its flexible challenge parameters, PropXP offers a comprehensive trading academy filled with educational resources, including in-depth tutorials and guides. With a commitment to accessibility, PropXP is poised to serve as a valuable platform for traders looking to refine their skills and achieve sustainable success in the financial markets.

About PropXP

PropXP is a global proprietary trading firm based in Limassol, Cyprus. Designed to support traders of all levels, PropXP provides accessible challenges, competitive trading conditions, and extensive educational resources. With a dedication to advancing prop trading, PropXP aims to empower traders worldwide.

For more information, please visit https://propxp.com

Media Contact

Giorgos Piskopianos, PropXP, 44 7789874973, social@propxp.com, https://propxp.com

Twitter, LinkedIn

View original content to download multimedia:https://www.prweb.com/releases/propxp-launches-redefining-prop-trading-with-global-access-302299812.html

SOURCE PropXP

Continue Reading

Technology

Decode economic ties between GBA and Colombia from a cup of coffee

Published

on

By

GUANGZHOU, China, Nov. 4, 2024 /PRNewswire/ — News report from GDToday.

The Guangdong-Hong Kong-Macao Greater Bay Area (GBA), one of China’s most open and economically dynamic regions, is deepening its business ties with Colombia.

What is the current status of economic and trade exchanges between the GBA and Colombia? How do Colombians view the region? And what specific opportunities do they see in this thriving area? In this episode, GDToday’s reporters explored these questions in depth, starting from a cup of Colombian coffee.

View original content to download multimedia:https://www.prnewswire.com/news-releases/decode-economic-ties-between-gba-and-colombia-from-a-cup-of-coffee-302300610.html

SOURCE GDToday

Continue Reading

Technology

SGT25 draw together 400+ European power grid technical professionals for a review of the latest grid transformation projects

Published

on

By

Recent research carried out by Smart Grid Forums with over 100 European power grid professionals revealed growing concern that eroding supply chain reliability, workforce stability, and OT cybersecurity are inhibiting grid transformation projects, delaying renewables integration, and impacting Europe’s future energy security.

THE HAGUE CONFERENCE CENTRE, The Netherlands, Nov. 10, 2024 /PRNewswire-PRWeb/ — Recent research carried out by Smart Grid Forums with over 100 European power grid professionals revealed growing concern that eroding supply chain reliability, workforce stability, and OT cybersecurity are inhibiting grid transformation projects, delaying renewables integration, and impacting Europe’s future energy security.

Driving grid modernisation in the context of geopolitical tensions, supply chain disruptions, and workforce uncertainty to guarantee future energy security in Europe

It is with this in mind that Smart Grid Forums launch their 6th annual SGT25 conference, with an extended day of strategic plenary sessions addressing the big picture issues impacting the sector, followed by a technical programme show casing the best of the grid modernisation projects across TSO and DSO organizations.

“European utilities have never been under more pressure to deliver grid transformation whilst navigating the complexities of global supply chain disruptions, workforce uncertainties, and a more geopolitically malicious cyber threat landscape” said Mandana White, CEO of Smart Grid Forums. “It is at times like these that utilities must come together to gain clarity on the big picture, compare their experiences, and unify to tackle the path ahead with innovative new strategies and greater energy and conviction than ever before. Delivering to the energy transition is not a matter of If but one of How.”

At SGT25 utility senior managers will come together with their technical teams for three days of strategic and technical discussions, in order to get onto the same page, and move in the same direction at greater pace than ever before. The programme consists of:

1-Day Infrastructure Investment Briefing – a series of utility panel discussions addressing technology investment priorities and the implications for utility technical teams and the supplier ecosystem2-Day Technical Case-Study Conference – implementation focused programme reviewing the successes, setbacks, and future roadmaps of utility project leaders and product specifiers in six core domains: Digital Substations, Operational Systems, Smart Meter Infrastructure, OT Cybersecurity, Big Data, and Asset ManagementInnovation Excellence Awards Ceremony – attended by all participants, and evening of recognition and reward in support of utility innovationRoundtable Discussions – private senior management roundtable discussions as well as public technical roundtable discussions, facilitating high impact information exchange and networkingExhibition & Live Demo Labs – a display of leading smart grid product and service suppliers with deep expertise and experience in the grid sector

100+ Utility Speakers Scheduled Including:

Giulio Carone, CEO – AretiMihkel Härm, CEO – ElektrileviTorsten Röglin, Managing Director – Stadtwerke FrankfurtThomas Reithofer, Head of Grid, Member of Executive Board – CKWFazila Ahmad, Global Head of Data & AI Acceleration – EDP GroupRene Kuczkowski, Head of the Strategy & International Cooperation Office – ENEA OperatorEsa Äärynen, Head of Strategic Grid Planning – Helen Electricity NetworksRonan McKeown, Future Networks Director – NIE NetworksTadej Šinkovec, Head of Advanced Analytics – Elektro LjubljanaAndreas Reisenauer, VP Digital Infrastructure – Elia GroupTomasz Rodziewicz, Head of Innovation & New Technologies – TAURON DystrybucjaJonas van den Bogaard, Open Source Office Lead – AllianderSander Jansen, Product Owner Virtual Stations – AllianderJoep van Genuchten, Data Architect – AllianderDavide Della Giustina, Chief Business Transformation Officer, Smart Infrastructures – AretiYamshid Farhat, Head of Technology & AI – BKWJan Petráček, Chief Transformation Officer – ČEZ DistribuceAlexander Harsch, Head of Cyber Resilience – E.ONSam Julian, Chief Cloud Engineer – E.ONMatthias Merchlewitz, Consultant, Resilience & Cyber Range E – E.ONVincent Audebert, IoT & Telecom Expert – EDFSherif Hussein, Project Manager – EDFPeter Jensen, Chair of the IEC Technical Committee 13 – EDFDan Wilson, Asset Analytics Manager – Electricity North WestUros Stiplovsek, Programmer – Elektro CeljeTadej Šinkovec, Head of Advanced Analytics – Elektro LjubljanaHenrik Hagberg, Head of Price and Revenue Management – EllevioŁukasz Kasperski, Coordinator for Measurement Systems and Energy Quality – ENEA OperatorPrzemysław Starzyński, Head of the Office of Innovation Initiatives – ENEA OperatorClément Devun, IT/OT Cybersecurity Lead Architect – EnedisMaman Idi Cheffou, Project Manager – EnedisLudovic Pontnau, OT Cybersecurity Expert – EnedisFatoumata Sangare, Industrial Information System Compliance Specialist – EnedisSławomir Noske , Senior Innovation Expert – ENERGA-OPERATORFedder Skovgaard, Business Architect – EnerginetCarsten Strunge, Chief Engineer & Business Architect Grid Control Systems – EnerginetHelder Barbosa, Cybersecurity Project Manager – E-REDESJose Esperanca, Data Management Lead – E-REDESChisimdiri Anyaogu, Engineer, Asset Performance – ESBKamal Radi, Senior Specialist, Power Systems Planning, SCADA and Energy Management Systems – ESBMarkus Virtanen, Lead Data Scientist – FingridPeter Kellens, Expert Assets & Grid Architecture Electricity – FluviusDan Smidsrød, Systems Engineer Process Control – Glitre NettKristin Tukun, Data Scientist – Glitre NettJoris van Rooij, Data Analyst -Göteborg EnergiMika Loukkalahti, Leading Expert – Helen Electricity NetworksInigo Ferrero, Protection & Control Standardization Manager – IberdrolaBirkir Heimisson, Specialist in Digital Development – LandsnetPaul Thomson, Power System Engineering Modelling – National GridStanislav Kalynych, IT/OT Security Analyst – Northland PowerNicolas Bihannic, Expert in Orange Future Networks Community – OrangeWalter Schaffer, Head of Competence Center Electricity – Salzburg NetzDaniel Lafferty, Design Lead, Protection & Control – SP Energy NetworksAdrian Ferguson, Lead OT Project Manager – SSEN TransmissionMohseen Mohemmed, Lead Protection Automation and Control Engineer – SSEN TransmissionDeepa Shaji Kumar, Innovation Development Project Manager – SSEN TransmissionAlex Stuart, Head of Data Management – SSEN TransmissionRannveig Løken, Head of Protection Department – StatnettSvein Olsen, Enterprise Information Architect – StatnettNuran Cihangir Martin, Grid Strategist – StedinMachtelt Eggink, Technical Innovation Manager – StedinLeon Kuiper, Lead Data Scientist – StedinMarcel Neu, Project Manager, Meter Asset Management & Lead NextGen SIO – StedinJan Nienhuis, Security Expert – StedinBas van den Berge, Head of Asset System Policy & Technical Innovation – StedinSjors van der Heijden, Strategist, Grid Automation – StedinGiuseppe Martinelli, Domain Architect Business, Power System Data – Svenska kraftnätAnna Rådman, Senior Vice President Business Intelligence – Svenska KraftnätErik Wejander, Project Leader Digital Substation – Svenska kraftnätMichael Knuchel, Head of Substation Automation Systems Engineering – SwissgridMariusz Jurczyk, Board Advisor for AMI – TAURON DystrybucjaMuhammad Babar, Leadership Team, Asset Data Management – TennetRemko Logemann, Maintenance Strategist – TennetMatija Naglič, Business Developer, System Operations – TennetEmir Ozdurmus, Asset Specialist, High Voltage Control & SCADA Systems – TennetJan Vorrink, Senior Advisor International Affairs, Future Design, System Operation – TennetBogdan Leu, Project Manager – TranselectricaMohammed Radi, Network Data Modelling Engineer (CIM) – UK Power NetworksVincent Gliniewicz, Senior Data Strategist – VattenfallÍvar Hrafn Ágústsson, Control System Specialist – VeiturJoyce van de Garde, Director Telecommunications – Westenergie

For more information please contact:

Mandana White, CEO – Smart Grid Forums

Smart Grid Forums Ltd

PO Box 80711, London, N19 9HJ, United Kingdom

T: +44 (0)20 8057 1700 | registration@smartgrid-forums.com

Smart Grid Forums is an independent conference production company serving the smart grid technical community. We monitor the market, conduct in-depth interviews with technical decision makers and translate this information into techno-commercial conferences that empower participants to accelerate their implementation plans and deliver exceptional results to their organisations. Our events are peer-to-peer exchanges. They are immersive, exhaustive and action oriented. We place the utility voice centre-stage and uncover the implementation insights that will enable you to benchmark your own digitisation strategy, fine-tune your own implementation plan, and deliver exceptional results to your own organisation.

Media Contact

Mandana White, Smart Grid Forums, 44 020 8057 1700, registration@smartgrid-forums.com, www.smartgrid-forums.com

View original content:https://www.prweb.com/releases/sgt25-draw-together-400-european-power-grid-technical-professionals-for-a-review-of-the-latest-grid-transformation-projects-302297512.html

SOURCE Smart Grid Forums

Continue Reading

Trending