Internet of Things drives personal security market growthedit
From wearables to personal sensors, the Internet of Things and new developments with connectivity are driving growth, innovation and new market opportunities with the personal security market.
The emergence of an innovative market fusing technology and connectivity for the purposes of business and home security is highlighted in a new report from Frost & Sullivan, titled “Sensors in Security & Surveillance, Global Forecast to 2023.”
The report discusses how the accelerating developments with of Internet of Things (IoT) and the Industrial IoT is placing an increasing emphasis on security and surveillance. The study examines a range of different sensors including image sensors; LiDAR (Light Detection And Ranging); RFID (Radio-Frequency Identification Devices); motion sensors; gesture sensors; biometric sensors; sound sensors; flame detection devices; smoke detector instruments; biosensors; gas sensors; and explosion detection instruments.
The study looks at the overall market as well as the specific technologies. With the market, the types of applications include perimeter security, intrusion detection, and access control. Strong growth in terms of sensor purchases and expansion of sensor use into new areas is predicted through to 2023.
In terms of value, IFSEC Global assesses the market to be have been worth $6,267.9 million in 2016. This could grow to $12,012 million by 2023. This represents an increase of 91.7 percent. In terms of the strongest candidate for growth, image sensors top the list. A second area for growth will be robotic devices like automatic guided vehicles, the report finds.
These trends are affirmed in a second report into the sensor area, from Future Market Insights. Here analysts note how attractive insurance policies, offering discounts for businesses and home owners who fit the latest security sensor technologies, is helping to fuel market growth as well as technological innovation.
As an example of a novel type of security sensor called Duo, see the Digital Journal article “New portable security sensor Duo to makes any space safe.”