The US Electronic Security Systems market is growing along with the Electronics and semiconductor industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
According to the report US electronic security systems market was valued at US$ 10.33 Mn in 2018, and is calculated to reach US$ 20.50 Mn by 2027, growing at a CAGR of 8.4% from 2019 – 2027.
Electronic security systems are electronic devices that can perform security operations such as surveillance, access control, alarms, or intrusion control into facilities or areas that use power backups such as batteries as well as power from a mains source.
A semiconductor device is an electronic component that relies on the electronic properties of a semiconductor material (primarily silicon, germanium, and gallium arsenide, as well as organic semiconductors) for its function. Semiconductor devices have replaced vacuum tubes in most applications.
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US government buildings, transportation systems, border areas, airports, ports, and various other infrastructures are experiencing illegal entry, resulting in significant financial and data loss. This factor has increased the demand for access control systems across the country, thereby driving the US electronic security systems market. Card readers are the most attractive access control system across the federal industry, but in the current scenario, there is growing demand for biometrics. In today's technologically advanced market scenario, card readers can easily be compromised, which is also a potential threat to various security-sensitive infrastructures. Biometrics systems, on the other hand, are highly protected as the same record, accessing the biological properties of an individual. These factors are expected to offer broad growth opportunities in the Electronics and semiconductor industry and this is expected to cause the demand for immunochemistry assays in the market.
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