This week in our Fire & Security industry news round-up we cover a future of the growth of Smart Home & Physical Identification Access Management markets, an influence of Chinese suppliers to the market and more…
Smart Home market is on the rise
According to the latest research, the global Smart Home Market is expected to grow at a CAGR of 13.61% between 2017 and 2023, likely to reach almost $140 Billion. Significant advancements in the IoT market, increasing need of the consumer for convenience, safety, and security and rising need for energy saving and low carbon emission-oriented solutions are the main reasons for the market growth. Lighting control held the largest share of the smart home in 2016.
(PR Newswire, 27/07/2017)
Do Chinese Suppliers Set the Competitive Landscape for Video Cameras?
The top two Chinese manufacturers of Video Surveillance equipment (Hikvision and Dahua) dwarf their western competitors and have dramatically brought down prices. They have been able to do this through a protected home market, which is the largest single market in the world and in the case of Hikvision they have received massive investments and orders from the Chinese government (their benefactor and part-owner) to support rapid expansion in overseas markets.
The future of the Physical Identification Access Management market
In 2016 market revenues, excluding Asia Pacific and Africa, amounted to just $136 million. The latest research published by IHS Markit predicts that global PIAM (Physical Identification Access Management) will grow rapidly to nearly $500 million by 2021. If the adoption of PIAM systems continues to grow as expected, larger suppliers may begin to see their grip on high-value projects from the transportation, corporate enterprise and utilities sectors weaken – especially considering that these high-value projects seem to be the earliest adopters of PIAM.
(Security World Market, 26/07/2017)
Growth of the anti-drone market
According to the new market research report published by Marketsandmarkets, the anti-drone market is expected to grow from USD 342.6 Million in 2016 to USD 1,571.3 Million by 2023, at a CAGR of 25.9% between 2017 and 2023. The market is mainly driven by factors such as increased security breach incidences by unidentified drones and increased terrorism and illicit activities. The report cites that the Americas accounted for the largest share of the overall anti-drone market in 2016.
(Security World Market, 23/07/2017)
Our weekly fire and security news round-up regularly feature supplier news, product launches, events, our own articles, and much more. Check back each week to catch up on the industry news affecting the fire & security sector collated by our team of fire & security recruiters.
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