The global smart security market is expected grow at 18.6% CAGR over the next few years until 2019, according to Infiniti Research.
The forecast covers end users of smart security such as residential users, commercial sector, utility sector and government sector.
The research indicates that the rise in terrorist attacks has forced many countries to implement smart security solutions. The U.S. government has taken initiatives to investigate and identify criminals by using security systems like video surveillance, access control systems, intruder alarms, perimeter intrusion prevention systems and advanced software.
Also, the study mentions that terrorism has increased significantly in areas like the Philippines in the last few years, resulting in an increased number of deaths from 2012-2013. This has led to higher demand for smart security solutions.
The report emphasizes cloud-based video surveillance systems, which provide a more cost-effective and flexible solution for end users to invest in.
Smart security solutions are used to monitor the activities and behavior of people in areas that are more prone to unauthorized access or damage, such as enterprises, educational institutions, commercial buildings and utility infrastructure.
Smart security includes advanced security systems such as IP surveillance cameras, biometric access control systems, integrated perimeter intrusion prevention systems and wireless alarms.
These solutions can secure an area from miscreants, terrorist activities and data theft.