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Growth predicted in the global physical security market

North America’s compounded annual growth rate slightly outpaces global rate
 - 
09/25/2017

PUNE, India—In a MarketsandMarkets report that covers the global physical security market from 2016 to 2021, the research firm predicts a 10.1 percent CAGR in the time period, bringing the global market’s value from $69.63 billion in 2016 to $112.43 billion by 2021.

Global VMS market to reach $10 billion in the next several years

MarketsandMarkets names AxxonSoft, Milestone, 3VR, Genetec among major vendors
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07/19/2017

PUNE, India—The market for video management software will rise $3.71 billion in 2016 to $10.54 billion by 2021, according to a report from research firm MarketsandMarkets.

Global biometrics market to grow at nearly 17 percent CAGR

North America to be largest sector to 2022
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03/01/2017

PUNE, India—Research firm MarketsandMarkets expects the global biometrics market to reach almost $33 billion by 2022, with North America being a large portion of the market.

Cyber-insanity

 - 
Wednesday, September 7, 2016

It has been about a month since I used this space to talk about the rising need for cybersecurity, a topic that is increasingly popping up in conversations within the physical security space.

Just this week, a report on the Cyber Security Market from global research firm MarketsandMarkets shows that the cybersecurity market is estimated to grow from  $122.45 billion in 2016 to $202.36 billion by 2021, at a CAGR of 10.6 percent. North America is expected to hold the largest share of the cybersecurity market in 2016 due to the technological advancements and early adoption of cybersecurity in the region, the report found.

The major forces driving the cybersecurity market, the study found, are the rise in security breaches targeting enterprises and need for stringent compliance and regulatory requirements, as well as the growing security needs of Internet of Things (IoT) and Bring Your Own Device (BYOD) trends and increased deployment of web & cloud-based business applications.

This rise in cybersecurity breaches is the reason why Surveillance Systems Incorporated, a Rocklin, Calif.-based security integration company, recently launched a new cybersecurity division, SSI Threat Protect.

In my conversation with SSI president Todd Flowers, he shared with me an ironic, yet poignant story about an inexpensive drone he had ordered that arrived on day one of the Threat Protect division launch. Flowers said drones are a part of the physical security space he is excited about, and thought it would be cool to use the drones for prizes—“a fun little thing to do for some customers,” he said.

“The first day I launched our new cyber division, this drone shows up, and I plug it in—the interface is super easy and it is on Wi-Fi—but it won’t work,” Flowers explained. “So I get my IT guy over and he pulls up the network and turns off our firewall to see what is going on. Now this thing is just supposed to work internally on Wi-Fi and does not require the Internet, but when he turns off the firewall, this thing starts transmitting packets of data to Japan and Korea. The drone was trying to transmit internal information from our servers, and basically opened up a pipeline of critical information to servers in Japan and China.”

Although this scary situation was remedied immediately, it exemplifies what Flowers said he sees happening within the next five years: “The physical side of what we do and the cyber side of security will converge,” he said.

Are you ready for it?

Global home automation market to hit $78b by 2022

North America is currently dominating the market
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05/23/2016

DALLAS—The global home automation market is forecasted to more than double by 2022, according to a recent Marketsandmarkets report, in part due to the Internet of Things and home automation features that save money by reducing energy consumption.

Video analytics market poised for growth

Security will remain largest use for video analytics to 2020
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12/28/2015

DALLAS—The North American market is, and will remain, the largest segment of the global video analytics market from 2015 to 2020 as the market grows worldwide. Cloud integration is a key trend and, while business intelligence is a rising application, security and life safety remains the top application for video analytics.

North American access control market approaches $5 billion

Biometrics to remain the largest technology
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04/08/2015

DALLAS—The North American access control market will rise to about $5 billion in 2020, up from $2 billion in 2014, while the global market will reach $10.3 billion, according to a Marketsandmarkets report.

Global home automation market projected to hit $12.81 billion by 2020

U.S. has largest share of the market
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02/18/2015

DALLAS—The North American home automation market will grow from $2.21 billion in 2013 to $4.29 billion in 2020, a CAGR of 9.17 percent, according to Marketsandmarkets research analyst Sarmistha Biswas.

VSaaS market worth about $2.39 billion by 2017

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06/03/2014

DALLAS—The global video surveillance as a service market is expected to reach $2.39 billion by 2017, expanding at a CAGR of 31.5 percent from 2012 to 2017, according to a report from MarketsandMarkets, a market research and consulting firm based here.

Global energy security market to reach $67b by 2018

North America will own a 30 percent global share of the technologically diverse market
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01/28/2014

DALLAS—The global energy security market for power plants is projected to reach $67.9 billion by 2018, up from $49.27 billion in 2013, reflecting a CAGR of 6.6 percent, according to a recent report* from MarketsandMarkets, a market research firm based here.

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