Guard Tour System Market Insights, Status, Latest Amendments And Outlook 2020-2027

By Author: Himanshi Arya
Total Articles: 68
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Market Outlook:
The global Guard Tour System Market was valued at USD 220.1 Million in 2019 and is projected to reach USD 273.3 Million by 2027, expanding at a CAGR of 3.9% during the forecast period. A guard tour system tracks security tours, which helps organizations and companies to log, organize and execute guard tours and patrols in their assets. The guard tour systems market is segmented on the basis of types, patrol systems, Functionality, end-users, and regions. Rising demand for security fuels the growth of the market.

Market Dynamics
The market is driven by factors such as rise in the use of real-time tracking, integration of technology, rising security breaches and sophisticated attacks across enterprises and countries, increasing adoption of guard tour systems in emerging countries. Conversely, high costs of guard tour systems and lack of awareness among consumers are key restraints of this market. Increasing adoption of cloud-based systems and rising adoption of surveillance systems is an opportunity for manufacturer.

Segmental Outlook
On the basis of types, the guard tour ...
... system market is segmented into web-based versions, local network client-server, and desktop. The web-based system segment is estimated to hold a large share of the market during the forecast period due to the ease of access to the data and security of the data. The web based system is also used for connecting with the other systems, which are present at other locations, and also collects data through the multiple devices and locations and stores in a cloud based system, which can be accessed anywhere. Therefore the segment is anticipated to expand at high CAGR of 4.1% during the forecast period.
Based on patrol systems, the guard tour systems market is segmented into wand guard patrol systems (handheld devices) and cloud guard patrol system (Mobile & Cloud Technology). The cloud guard patrol system (mobile & cloud technology) segment is anticipated to expand at a CAGR of 4.1% due to the use of mobile & cloud-based technology, for tracking and analyzing data, using mobile application. The wand guard patrol systems (handheld devices) segment is anticipated to constitute 50.8% share of the market by 2027 due to the increasing demand for patrolling, growing number of threats, and rising security concerns.

In terms of Functionality, the market is segregated into real-time data delivery and offline. The real-time data delivery segment accounts for a major share of the market and is anticipated to expand at a high CAGR during the forecast period. The real-time data delivery systems segment is projected to constitute 1/5 share of the market by 2027, as these systems provide access to the data in real-time and help in monitoring the activities of the security personnel, thus fueling the segment.
On the basis of end-users, the guard tour systems market is segmented into security companies, educational institutes, real estate organization, public transport services, and others. The security companies segment is projected to constitute 1/3 share of the market by 2027, due to the increasing demand for security services and rising number of security breaches.

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Definitions

By Type

Web-based: Web-based services are used for tracking and analyzing data, using a software. The system uses combination of advanced technologies such as Internet of Things (IoT) for analyzing the data. The IoT connects devices that are used for managing and tracking the activities in different locations. It provides access to information of the activities of the guards, present in several location, which is one of the major advantage for this system. Increasing access to the Internet is one of the major factors propelling the demand for web-based systems.

Local Network Client Server: The local network is one of the methods for analyzing and tracking changes in the guard tour systems. The network uses hardware and software for collection data. This helps in determining threats and monitoring potential threats. It connects with the VPN software, which is used for communicating information. This also allows to connect with the main office of the network center.

Desktop: The guard security tour system is installed on the desktop. The collected data is transferred to desktop, using devices. The data is analyzed and monitored after gaining access to the desktop at the main location. However, a person cannot access the information on other devices or applications.

By End-user

Security Companies: Security companies provide services such as the installation and maintenance of electronic security products. These companies provide services such as patrolling services and security guards to organizations and private institutes to prevent security breaches and unauthorized activities. Increase in awareness regarding safety among customers is fueling the growth of the market.

Educational Institutes: Educational institutes are vulnerable to several attacks, which is one of the major factors for the use of guard tour systems. The use of the security devices, ensures safety on the premises, thus fueling market growth. The guard tour systems provide real-time data that helps monitor and track activities. These systems are used for monitoring the movements of the staff and the children in-real time.

Real Estate Organizations: Real estate organizations are prone to several intrusions and threats. This has led to the adoption of guard tour systems to determine potential threats. These systems track movements; thereby gathering information in the monitored areas.

Public Transport Services: Public transport services employ security services to provide security to the passengers. Security devices detect the possibility of the potential offenders using these services, thus creating a safe environment for passengers. Moreover, the safety of the passengers is a major concern, which has led to the adoption of the guard tour systems. These systems are embedded with alarms that alert the authorities.

Others: The others segment includes residential complexes and healthcare departments such as hospitals and retail stores, hotels, remote locations, malls, and other places such as finance institutes where regular checking at selected locations are required. These services are used for collecting data at these locations. The collected data is transferred to the servers, thus helping to analyze monitor threats. Moreover, the systems provide access to the data collected at various locations.

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Regional Outlook
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Europe is a promising region for the market. It constituted 1/3 share of the market in 2019. The market in the Asia Pacific, is projected to expand at a CAGR of xx% during the forecast period, between 2020 and 2027. The demand for guard tour systems from end-users industries, such as security companies, educational institutes, real estate organizations, and public transport services, is expected to rise during the forecast period, between 2020 and 2027. The market in North America is projected to expand at a CAGR of xx% due to the increased demand for guard tour systems in security companies, educational institutes, real estate organizations, public transport services, in this region.

Competitive Landscape
• Key players in the global guard tour systems market include Oysta Technology, TimeKeeping Systems Inc. and others. They are considered as key manufacturers in the market based on their different varieties of product availability, regional presence, superior supply chain management system, and high demand for the products.
• The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the Guard Tour System is added in the company’s capacity.
• For instance, In July, 2020, Gallinet Ltd released PeopleHours Version. This helped the company increase services in peopleHours Version.
• In June, 2018, Gallinet Ltd launched a version of PeopleHours. This new version of PeopleHourshas has features and performance improvements to the application. This action of the company helps them to increase services in peopleHours Version.

Key Benefits for Industry Participants & Stakeholders
• In-depth Analysis of the Global Guard Tour System Market
• Historical, Current and Projected Market Size in terms of Value
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Guard Tour System Market Performance

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