Rapid urbanization and rising instances of theft and robberies globally spur the demand for highly reliable and technologically aided products and services in global commercial security system market. Various governments around the world are launching various campaigns and initiatives for the integration of smart city infrastructure. Electronic security remains a core concern for the next generation of advanced and futuristic smart cities. The infrastructure needs to be enhanced with cutting-edge security systems to record and save data pertaining to cyber security. Growing need for smart and automated security systems to bolster smart city infrastructures is a key driver for global commercial security system market. Products and services in global commercial security system market include video surveillance cameras and systems, online security guards, and alarm systems.
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Growing Concerns about National Security Fuels Interest in Commercial Security System Market
Rising government investments to ensure peace and national security and increasing demand for security systems in airports, hotels, temples, and office building are crucial factors motivating the growth in Asia Pacific commercial security system market. Growing concerns from governments including China and India is a key factor behind the growth in the commercial security system market. Increasing investments from players to enhance and integrate cutting-edge technologies such as Internet of Things (IoT) to enable and advance remote monitoring capabilities are contributing to the growth of North America commercial security system market.
Some of the major players in global commercial security system market include Johnson Controls, Carrier, Axis Communications, NEC Corporation, Suprema, Inc., Hikvision, Honeywell Commercial Security, Identiv, Inc., Assa Abloy, and Bosch Security and Safety Systems. Players in global commercial security system market are employing various strategies such as mergers and acquisitions to expand their customer base and geographical presence. For example, Johnson Controls acquired the remaining stake of a leading commercial and residential smart home security manufacturer, ‘Qolsys’ in August of 2020. This acquisition was targeted to achieve operational efficiency and scale Johnson Controls’ business worldwide by enhancing their existing suit of services and products offered on their online platform.
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