The report, now available on ASDReports, recognizes the following companies as the key players in the Global Smart Security Market: Axis Communications, Bosch Security Systems, Cisco Systems, Honeywell Security, NICE Systems and Tyco International
Other Prominent Vendors in the market are: Anixter, AxxonSoft, DvTel, Genetec, Hikvision Digital, March Networks, Napco Security Technologies, Panasonic System Networks, Pelco and Schneider Electric
Commenting on the report, an analyst from The report’s team said: “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 study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Source: ASDReports - Market Research
Date: Jul 6, 2015