LONDON--(BUSINESS WIRE)--TechNavio, a tech-focused research firm, has published a new report on the Global Security Market in Schools, which indicates that the market is expected to grow at a CAGR of 14.3 percent, topping $US 1,100 million by 2018.
As the number of attacks on schools has increased, so too has the need for technologically advanced security systems in schools and other educational institutions. Students have become soft targets for criminals and terrorists, and it becomes the responsibility of school authorities to be equipped with proper solutions to minimize the risk of such attacks.
The latest report from TechNavio highlights the availability of cost effective security systems as a major driver for market growth. Although there is a need for security solutions in schools, budget constraints often compel end-users to opt for cheaper alternatives.
“Keeping in mind the revenue opportunities in the education sector, vendors are introducing cost-effective products for schools and colleges. These products include surveillance cameras and access control devices, which can be customized for use on school premises,” says Faisal Ghaus, Vice President of TechNavio.
“Since this equipment doesn’t require high accuracy as compared to other sectors, vendors are able to provide it at cheaper prices.”
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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