Report : US Electronic Security Systems Market to 2027 - Country Analysis and Forecasts by Product Type (Surveillance Systems, Alarming Systems, Access Control System); Component (Camera, Monitor, Storage Device, Software)
The US electronic security systems market was valued at US$ 10.33 Mn in 2018, and is calculated to reach US$ 20.50 Mn by 2027, growing at a CAGR of 8.4% from 2019 - 2027.
The continuous engagement of various US governmental verticals with electronic security systems market players to procure technologically advanced systems is catalyzing the growth of electronic security systems market in the US. The US electronic security system is anticipated to grow at a higher pace during the forecast period, mainly due to a large number of vendors coming forward and offering electronic security systems to the federal, state and local government agencies throughout the US. The leading players are involved in designing, developing, installation, and maintenance of technically complex integrated electronic security systems for federal government customers. There are number of agencies and associations in the United States working for the development of security systems, such as, Department of Homeland Security (DHS), Department of Defense, Department of Transportation, Department of Health and Human Services, US States Security Licensing Guide, Department of Energy, National Security Agency (NSA), General Services Administration (GSA), and Electronic Security Association (ESA), among others.
The ESA is the largest trade association in the United States, representing the electronic security and life safety industry. The ESA provides government advocacy, technical and management training, and delivers the information, advice, tools, and services that are used by the members for growing their business. Similarly, the DHS tests UAVs to guard the environment against cyber-attacks in the United States for border patrol, critical infrastructure protection, transit monitoring, and general surveillance of the US population. The majority of computer surveillance involves traffic on the Internet and tracking of data. For instance, in the US, under the Communications Assistance for Law Enforcement Act, all phone calls and broadband Internet traffic (instant messaging, emails, web traffic, etc.) are required to be available for actual monitoring by federal law enforcement agencies.
The federal government plays a vital role in the trend and growth of the US electronic security systems market. The companies offering security system products have to comply with the laws and regulations formed. The federal government has passed various acts for keeping an eye on the workings and maintaining the security of the individuals, such as Computer Fraud and Abuse Act of 1986 (18 USC 1030), National Policy for the Security of National Security Telecommunications and Information Systems (NSTISSC), and Federal Information Security Management Act (FISMA), among others. In Minnesota, as per the Data Security Laws, it is required that the state agencies shall establish cybersecurity guidelines, policies, and standards. It is also necessary to install and administer state data security systems on the state's computer facilities, and shall ensure the integrity of computer-based and other data and provide applicable limitations on access to data. Such laws are anticipated to drive the demand for electronic security systems in the US.
The electronic security systems market is fragmented with large numbers of established players as well as emerging players across the globe. The key companies functioning in the market include Johnson Controls, ADT Inc., Honeywell International Inc., KBR Inc., and BAE Systems among others.
The report segments the US electronic security systems market as follows:
US Electronic Security Systems Market, by Product Type
US Electronic Security Systems Market, by Component
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