With the proliferation of the Internet of Things driving new opportunities for sensors in security and surveillance applications, the market for these sensors is expected grow exponentially over the next five years, according to a new report from Frost & Sullivan.
The market research firm said that the total sensors market in security and surveillance applications, which includes such sensors as image, LiDAR, RFID, motion, gesture, biometric, sound, flame detection, smoke detection, biosensor, gas, and explosion detection, was worth just north of $6.2 million in 2016, with image sensors holding the largest market share at 23 percent. However, by 2023, the market is expected to be nearly double that at just over $12 million.
Although the North America and EMEA (Europe, Middle East and Africa) regions currently dominate the market, driven by aging infrastructures, Frost & Sullivan said that the Asian-Pacific (APAC) market is the fastest growing due to rapid infrastructure development, strong economic growth, and favorable government regulations. Among some of the challenges for sensor manufacturers and suppliers include increased competition, leading to pricing pressures, lack of product differentiation, and lack of common global standards.
In addition, the research firm said that the growth of IoT is also contributing to rapidly evolving security requirements, with the areas of robotics and biometric and RFID sensors offering the greatest opportunities.
“In commercial and residential applications, biometric recognition used in access control systems is also witnessing a gradual increase in interest,” said Ram Ravi, senior research analyst for electronics and security at Frost & Sullivan. “In addition, cloud networking, a revolutionary two-way interactive service delivery platform, is expected to create a technological explosion in the homes and buildings services market, particularly in commercial and residential security applications. This will enable homes and buildings participants to adopt new business models to provide attractive cloud-based services through a secured network.”
The research firm’s three big predictions for sensors in the global security and surveillance market include:
- Internet of Things (IoT) is paving the way for industry convergence and enabling machine-to-machine (M2M) communications for better business decisions. Sensors form the physical layer of the IoT architecture;
- Development of new communication protocols will ensure interoperability and provide standardization, particularly in applications for perimeter security, intrusion detection, and access control systems; and
- Retail, healthcare, and finance are all expected to offer considerable growth opportunities for sensors in biometrics.
For more information about the report – “Sensors in Security & Surveillance, Global Forecast to 2023” – click here.
