New Market Report: Security Systems Market in Latin America 2015-2019

From: Fast Market Research, Inc.
Published: Mon Aug 31 2015

Fast Market Research announces the availability of Technavio's new report "Security Systems Market in Latin America 2015-2019" on their comprehensive research portal.

Security systems comprise surveillance systems, access control systems, security alarms, and perimeter intrusion prevention systems. Surveillance systems are used in organizations, airports, sea ports, railway stations, educational institutions, retail stores, and banks to monitor the activities and behavior of people to prevent the occurrence of untoward incidents or theft.
The data captured by surveillance systems are transmitted and stored for future use. Monitors are installed at end-points to look at the footage and analyze unusual behavior. Installation of surveillance and access control devices at various sensitive areas reduces the need for security personnel.

Technavio's analysts forecast the security systems market in Latin America to grow at a CAGR of 14.35% over the period 2014-2019.

Get More Details on this Report and a Full Table of Contents at Security Systems Market in Latin America 2015-2019

The report analyst commented, "A rise in pilfering and terror attacks in airports, casinos, and the retail sector has increased the need for constant monitoring using panoramic cameras that render a clear view of the area. For instance, Parque da Luz Park in Brazil has panoramic cameras that give a 360-degree view of the park. Airports in Latin America are also likely to install panoramic cameras to avoid terror attacks in the future."

According to the report, an increase in threat attacks and data thefts in Latin America has raised concerns over security breaches, increasing the adoption of security systems. For instance, in 2014, the Escuela Militar metro station in Santiago, Chile, was targeted, leaving 14 injured. Surveillance and access control systems keep a constant check on the environment, preventing unauthorized intrusion to property and information.

Further, the report states that lack of professional expertise and high total cost of ownership will hinder the market growth during the forecast period.

The key players in the Security Systems Market in Latin America are Bosch Security Systems, Cisco Systems, Honeywell Security Group, NICE Systems and Tyco while other prominent vendors include Assa Abloy, Axis Communications, Exacq Technologies, Genetec, Gunnebo, Hikvision Digital, Kaba Holding, March Networks, Panasonic System, Safran, Samsung Techwin, Schneider Electric and Siemens

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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