LONDON--(BUSINESS WIRE)--Growing adoption of security systems by commercial buildings has led to the growth of the Global Residential and Commercial Security Market, which is expected to post a CAGR of 15.16 percent from 2014-2019, says research firm Technavio.
Retail shrinkage, or the loss of a store's inventory, is a critical issue faced by retailers. The commercial sector has seen a drastic rise in criminal activity, which has resulted in massive retail shrinkage and loss of credibility for organizations.
“Retail shrinkage has increased because of the growing number of thefts in retail stores, which has accounted for almost 45 percent of overall retail shrinkage,” says Faisal Ghaus, Vice President of Technavio.
The latest Technavio report also emphasizes the growing adoption of cloud-based technologies by retailers and facility owners, as it ensures a centralized, searchable repository of historical data. Cloud-based services can be used by facility owners worldwide without any time or location constraints.
“Cloud-based services ensure low cost of ownership along with improved methods of managing the complexities involved with the huge volumes of data collected from commercial security systems,” says Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global Information Security Products and Services Market 2015-2019
- Port Security Market in North America 2015-2019
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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