Wireless Security Camera System Market: Emerging Trends and Forecast 2023
The global Wireless Security Camera System Market is set to touch a valuation of USD 140 Billion by 2023, reveals Market Research Future (MRFR). The market also seems to have the potential to attain a growth rate of 11% between 2017 and 2023, which is the forecast period.
Primary Drivers and Top Challenges
Wireless security systems are gaining higher traction than the traditional variants, since they are used to facilitate home automation and can be used even when the lights go out. Surging penetration of sophisticated technology in wireless security systems paired with the advancements in solar-powered wireless security systems is attracting the attention of many end-users. Such factors are bound to underpin profits in the worldwide Wireless Security Camera System Market.
Although the wireless security systems are superseding the wired ones across the globe, certain setbacks make them vulnerable to numerous reliability issues. On the bright side, the wireless security system market has been very well received by customers owing to a host of benefits being offered by these systems. A strong demand for this technology across several applications is poised to stimulate the growth of the Wireless Security Camera System Market during the estimated period.
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The prominent players in the Wireless Security System Market Share are – Cisco Systems, Inc. (U.S.), Assa Abloy (Sweden), FLIR Systems (U.S.), Bosch Security Systems, Inc. (Germany), ADT Corporation (U.S.), Brocade Communications Systems Inc. (U.S.), Honeywell International, Inc. (U.S.), Fluke Corporation (U.S.), Symantec Corporation (U.S.), Fortinet (U.S.), among others
The global market for wireless security system has been extensively studied by MRFR experts, considering the segments like type and industry.
The wireless security system types covered in the report are wireless network security and wireless home security. Wireless network security types are wireless alarm system, wireless monitoring systems and wireless security cameras. Expanding wireless networks along with the rising adoption of mobile devices across organizations is fuelling the demand for the wireless network security market. Wireless home security system can be split into intrusion prevention/detection systems, firewall, identity and access management systems, and others. Surge in crime rates and advancing consumer awareness about home security help boost the demand for home security systems.
It is expected that North America can achieve the top position in the global wireless security system market during the review period. The regional market growth is induced by the frequent technological advancements as well as the rising concerns regarding security. Also, a huge number of devices in the region are used that are backed by IoT and can be controlled from any remote location, which has driven the regional market to a better position in recent years. Additionally, a highly lucrative aerospace & defense industry in the region adds to the market strength.
APAC is set to be counted among the strongest markets for wireless security system in the near future, with countries like Japan, South Korea and China controlling the highest share in the region. These developing economies are increasing their investments in the development of defense and au"
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