sb-au logo
Story image

Frost & Sullivan: IoT security & surveillance sensor market set to flourish

19 Jan 2018

Frost & Sullivan says image sensors used for security and surveillance are dominating the market as the Internet of Things brings about a new era of connectivity in the digital age – and it brings new opportunities for those who include sensors in security technologies.

According to the research firm’s recent report, titled Sensors in Security & Surveillance, Global Forecast to 2023, security technologies are requiring sensors for remote services and enhanced accessibility of devices.

In 2016 the total sensors market in security and surveillance applications reached more than $6.2 million – a number that’s set to double by 2023 to reach more than $12 million. Frost & Sullivan says that image sensors hold the lion’s share of the market at 23%.

Asia Pacific’s rapid infrastructure development, strong economic growth and favourable government regulations have transformed the region into the fastest-growing market, however North America and EMEA still dominate the market because of their aging infrastructures.

There is turbulence in the market for both sensor manufacturers and suppliers as increased competition, pricing pressures, a lack of product differentiation and a lack of common global standards create challenges.

Frost & Sullivan points out that the Internet of Things is playing a large part in the rapid evolution of security requirements.

Biometrics and RFID sensors are tipped to hold the greatest opportunities. Robotics also provides ‘the future of security and surveillance’ as firms continue significant research and development in the space.

“In commercial and residential applications, biometric recognition used in access control systems is also witnessing a gradual increase in interest,” comments Frost & Sullivan industry analyst Ram Ravi.

“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."

Frost & Sullivan predicts three major developments for sensors in the global security and surveillance market:

  • 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 standardisation, 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.

Story image
Thycotic acquires Onion ID, launches new access management products
Thycotic has acquired Onion ID, a privileged access management (PAM) solutions provider, and has added new products to its PAM portfolio to protect enterprise cloud apps and better enable remote workers.More
Story image
Months on, many organisations still don't have secure remote access - report
The report analyses the extent to which businesses were prepared for the sudden shift into remote working due to COVID-19 restrictions, and analyses how organisations have adjusted to support remote workers amidst the COVID-19 pandemic. More
Download image
Dynamic Workforce Risk, and how it can jeopardise your business
Almost everything about the modern business is changing in 2020. An evolved workforce is one of them - but many businesses don't see the risks. Here's how this could spell bad news.More
Story image
Demand for VPNs soars in Hong Kong amid fears over Beijing crackdown
VPN provider Surfshark revealed it has seen a week’s worth of sales in just one hour within the city, indicating that locals feel their internet freedom is under attack.More
Story image
Google most popular brand to impersonate in phishing campaigns - report
A new report from Barracuda released today shows 100,000 attacks impersonating reputable brands, with 65% of this figure using Google as a masquerade.More
Story image
ExtraHop brings SaaS network detection and response solution to market
"Reveal(x) 360 is the culmination of a multi-year R&D investment to secure data centre, remote sites, and cloud workloads with frictionless deployment and actionable insights that can be securely accessed from anywhere.”More