Smart security market to post 22.58% CAGR through 2020

Global SourcesUpdated on 2023/12/01

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Wireless IP cameras are expected to become more popular during the forecast period.

Image Source: Colin West McDonald/CNET

According to a new report from Research and Markets, the smart security market will have a CAGR of 22.58 percent from 2016 to 2020.

Demand for smart security solutions are expected to be driven by global political instability, terrorist attacks, shootings, burglary, theft, violent activities in the Americas, and other security threats.

Among the security products that are expected to see high growth are wireless IP cameras. Options for these are increasing and have obtained solutions for network infrastructure and need for connectivity.

Indeed, the latest wireless security and surveillance cameras are being improved in terms of network communication and security, and sensing. Despite reports that these types of cameras were used recently in a DDoS attack in the US, makers are already on the move to make sure future cameras will be more secure. Also among the top technologies being focused on by makers are event-analyzing features in those cameras. Soon, security and surveillance cameras will be able to distinguish better what a real threat is from what is not.

As regards challenges, the report suggests that awareness on the latest technologies in wireless and IP video surveillance, biometric products, cards and intruder alarms is what the industry needs to work on.

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Smart security market to post 22.58% CAGR through 2020

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