Increasing criminal attacks and in-house as well as external unethical practices are expected to be key factors that drive the global intrusion detection system market. Growing trend towards home and office security system automation may also raise demand for detection system. Growing smartphone and tablet proliferation has resulted into increased mobility, which is also anticipated to catapult industry growth. Further, rising disposable income in several developed and developing countries is also anticipated to be major factor driving demand.
Security has continuously been a major concern in several verticals such as commercial and industrial areas. Increasing adoption of new technology in both commercial and industrial sector is also anticipated to provide avenues for industry growth. Development in semiconductor technology such as LED and photo diode may also result in high growth. Entry of prominent telecommunication and cable provider may also increase the penetration rate over the next seven years. Integration of detection system with intrusion prevention system has automated several preventive measures such as informing police, which may also attribute to the industry growth in near future. Biometrics technology provides finger print, palm veins, face recognition, iris recognition, DNA and retina authentication. Integration with such authentication system may result into fulfillment of high security demand of certain industries, and provide avenues for future growth. Growing incidents of burglary has resulted into financial or economical damage to the individual or industry. Thus, many intrusion detection system market players are expected to integrate insurance with their solution offering, which may raise the detection system demand in foreseeable future. After sale services and maintenance are also expected to be key factors contributing towards future growth. Development in artificial intelligence may result into advanced threat monitoring system providing proactive threat detection, thereby increasing the detection system demand. Increase in intuitive touch-based and introduction of video-based intrusion detection systems (IDS) is also anticipated to catalyze industry demand. Growing demand across the BFSI sector in order to protect stored valuables such as money, lockers and gold ornaments, provides avenues for further growth.
The intrusion detection system provides several benefits such as intuitive periodic reports, secure working & living environment and intrusion prevention. There are several challenges to the intrusion detection system growth such as lack of awareness. However, these issues can be tackled by conducting several awareness campaigns. High product and installation cost may also hamper the IDS market demand over the next seven years.
The potential of integrated system and automation is expected to result into the detection system that may scale up to accommodate lightening control, energy management, and smoke/CO2 detectionwith intrusion detection system. This multi-functional capability may also expand the intrusion detection system market demand
High security awareness in the developed regions such North America may result into substantial growth. Asia Pacific region is also expected to witness high growth due to rise in consumer disposable income and high burglary rate. Middle East & Africa region may exhibit high growth owing to growing investment in infrastructure and development of data center by prominent IT companies.
Key IDS market player include Tyco International Ltd., Assa Abloy Group, UTC Fire & Security, Bosch Security Systems, Honeywell International Inc., Allegion Plc, Detection.com, Godrej & Boyce Manufacturing Company Limited, Nortek Security & Control LLC and Control4 Corporation. Industry participants focus on technological advancements and new product development as a part of their core business strategy, which helps them provide enhanced and secure solutions. Merger & acquisition of several startups by incumbent players may also serve as a key growth strategy.
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To address the surge of COVID-19, governments all over the world are developing stringent surveillance mechanisms to ensure that people in high-risk zones, or those instructed to be under strict home quarantine. Smartphone apps integrated with geotagging features have been rolled out by various governments to ensure adherence to social distancing. Health surveillance in the wake of this pandemic has essentially become a mic of technology and human intelligence. The updated report will account for Covid19 as a key market contributor.