According to a new market research report published by ‘MarketsandMarkets’, the global security systems market is projected to be around $25 billion in 2014 and expected to reach $38 billion by 2020.
The systems market has been classified into 2 systems (CCTV & Access Control). CCTV products include; Analogue Cameras, IP cameras, CCTV cameras, DVR’s, NVR’s and surveillance software. While Access Control has been categorized with Smart Cards & Readers, RFID tags, biometric systems and Automatic Number Plate Recognition (ANPR) systems.
One of the main factors for the increase in market worth is need for a more all round and intelligent security system. Security is one of the major concerns of governments and individuals. Security concerns prompt governments, financial institutes, corporate and residential buildings to install better security systems.
As well as this, falling prices in the CCTV market are making intelligent security more affordable for all businesses and homes alike. The report highlights recent developments, market size and analysis and technological trends of the security market.