Tag: TechNavio
Residential security market growth to be driven by AI, crime rate
September 30, 2024SSN Staff
NEW YORK —The interactive residential security market size in the U.S. is estimated to grow by $2.96 billion from 2024-2028, according to market research company Technavio.
The market research company estimates that residential security will grow at a CAGR of 10.26% during the forecast period, with rising crime rates across the U.S. is driving market growth and a trend towards increasing focus of vendors on new product launches.
Technavio writes that the interactive residential security...
Report predicts $62.75 billion growth for physical security over next four years
August 5, 2022SSN Staff
NEW YORK – The growth of the physical security market is picking up speed thanks to global concerns about crime and terrorism.
Global market research firm Technavio has released its 2022-2026 forecast and analysis for the physical security market, with a forecast estimating an increase of $62.75 billion over the next four years.
Driving factors in this market growth are driven by global concerns about crime and terrorism, Technavio said. The report cites major contributing factors...
Technavio notes trends in the mass transit security market
April 3, 2017Spencer Ives
LONDON—Technavio, a market research firm based here, recently published a report that covers the mass transit security market from 2017 to 2021. Among the firm's predictions is that the Americas market share continues growing but ceases to be the largest market portion.“In 2016, the Americas accounted for the largest share of the market with 40.10 percent share, followed by EMEA with 38.51 percent and APAC with 21.39 percent market share,” Amrita Choudhury, Technavio research analyst,...
Connected products driving smart home growth
January 25, 2017Paul Ragusa
The vision of the truly intelligent home where your security system and all of its connected smart home devices, from Siri to your stove, can be controlled by your smart phone, is starting to become a reality.
This leap in technology is good news for the industry, and good news for dealers, who are finding that this brave new world of connected devices is fueling interest in security systems, especially from customers who want to know how the two can work harmoniously together. And this is making...
Report: Global residential security to break $30 billion
November 9, 2016Spencer Ives
LONDON—Technavio recently released a report on the residential security market, from 2016 to 2020, which projects growth for the North American market.According to the report, the global market for residential security will grow at a 7.34 percent CAGR—from $21.93 billion to $31.25 billion. The North American market will rise to about $15 billion in 2020, up from $12.51 billion in 2016, at a CAGR of 4.56 percent.“North America currently owns nearly 55 percent of the market (United...
Global smart home market to see strong growth
September 14, 2016Paul Ragusa
LONDON—The global smart home M2M market, which was at $19.5 billion in 2015, is set to grow to $96.5 billion by 2020, at a CAGR of nearly 35 percent, according to a recent study from global research firm Technavio.The smart home M2M market in the Americas, valued at $10.1 billion in 2015, is expected to reach $41.3 billion by 2020, growing at a CAGR of 32.43 percent.“Presence of enhanced global connectivity (LTE) across the world is one of the major reasons driving the global smart home...
Cloud services, IoT driving data center market growth
August 25, 2016SSN Staff
LONDON—A new report from Technavio forecasts the global data center market to grow at a CAGR of close to 11 percent during 2016-2020, driven by increased spending on cloud data centers, growing IoT and increased use of big data analytics.
The enterprises spending on cloud data centers, which was $38 billion in 2015, is expected to reach $75 billion by 2020 at a CAGR of around 14.57 percent, according to the report.
Many cloud service providers (CSPs) construct cloud data centers that cost up...
Security in the retail sector on the rise
August 5, 2016Spencer Ives
LONDON—Across the globe, retail spaces will purchase more physical security measures, such as cameras and EAS (electric article surveillance) systems, and the Americas will be a strong region in the forecast period from 2016 to 2020, according to a July 28 report from research firm Technavio.“We see the retail sector becoming one of the top three physical security [vertical markets],” Amrita Choudhury, Technavio research analyst, told Security Systems News. The retail market, government...
US leads global VSaaS market to 2020
June 15, 2016Spencer Ives
LONDON—Now, and for several years to come, the United States will have the largest share of the global VSaaS market and the most common application will be in the commercial space, according to a Technavio report on the global VSaaS market from 2016 to 2020.The U.S. is the leading country in the VSaaS market, according to Technavio, maintaining about 30 percent of the global market in 2015. The report groups South and North America into a single “Americas” region, which constitutes...
US resi smoke detector market to hit $600 million
March 18, 2016Spencer Ives
LONDON—Between 2016 and 2020 the residential market for smoke detectors will grow, according to a recent Technavio report, and technological trends in the market will shift dramatically.“The market size for the residential smoke detector market, specifically for the U.S., stands … close to around $400 million,” Sayani Roy, Technavio industry analyst, told Security Systems News. “By 2020, it is expected to hit around $600 million,” she said. Technavio is estimating...