Global Guard Tour System Market Expected to Reach US$ 273.3 Million by 2027

According to a recent market study published by Growth Market Reports (GMR), titled, “Global guard tour system market by type, patrol system, end-user, functionality and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 220.1 Million in 2019 and is expected to grow at a healthy growth rate of 3.9 % by the year 2027. A guard tour patrol system is a system for logging the rounds of employees in a variety of situations such as security guards patrolling property, technicians monitoring climate-controlled environments, and correctional officers checking prisoner living areas. Recent market trends include, use of biometrics, RFID tracking, integration and automation of mobile applications, and increased use of data encryption for protection of data. This helps in tracking and monitoring the activities of the guards, in real time. The use of the guard tour systems, does not require a person to enter the data, the data is entered by the use of wireless tracking devices, which receives the data, once the guard reaches the check point.

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The global Guard Tour System market is fragmented based on type, patrol system, functionality, end-user, and region. In terms of 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). On the basis of functionality, the market is segregated into real-time data delivery and offline. On the basis of end-user, the market is segmented into security companies, educational institutes, real estate organization, public transport services, and others. Based on region, the global Guard Tour System market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into, India, China, Australia, Japan, South Korea, and Rest of Asia Pacific. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of MEA.

In year 2020, the Guard Tour System market is expected to witness the slight growth due to COVID 19 pandemic. Guard tour systems are a used for recording employee rounds in a number of contexts, such as security guards monitoring premises, climate-controlled nearby technicians, and correctional officers inspecting prisoner living quarters. The advancement in technology has a wide impact on guarding systems. Increasing demand for advanced technology and automation by industries for various applications is expected to drive the growth of the market. This software offers a venture for the security officers with the customized, comprehensive outlook of operations, real time logging at checkpoints, messaging, reporting, incidence alert, and GPS tracking & geo-fencing. This, in turn, increases the demand for guard tour system globally. The recent outbreak of COVID-19 has had a huge impact on the overall market. Many companies operating in the guard tour system market are adopting strategies to sustain in the market.

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As per GMR industry analyst Vidya Jadhav, “The global Guard Tour System Market is anticipated to witness significant growth during forecast period 2021-2027 driven by rising breaches in the real estate centers, and increasing adoption of new technologies such as RFID, real time screening, among others. However, high costs of the services, and underdeveloped infrastructure facilities, and lack of awareness among the consumers are key restraints of this market. Emerging software applications, for monitoring in real time, rising adoption of cloud based systems, thus boosting the growth of the market.”

Key Takeaways from the Study:

• Oyesta Technology, holds major share of global Guard Tour System market in year 2019.
• North America accounts for a major share of the market, followed by Asia Pacific. The market in North America is projected to expand at significant CAGR during the forecast period.
•  In terms of value, the hospitals segment is anticipated to expand at a significant CAGR during the forecast period. Several governments’ bodies globally are willing to incorporate Guard Tour System in public immunization programs given assured quality, safety, and affordability of the vaccine in hospitals. This, in turn, creates awareness among the people about the Guard Tour System, thus boosting segment growth.
• The security companies segment is anticipated to expand at a substantial CAGR during the forecast period due to rising demand for guard tour system in security companies.

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Report Scope:

Target Audience:

• Supply-side: Guard Tour System manufacturers (Pharmaceutical Companies), raw material suppliers, primary respondents, and distributors.
• Demand Side: Security Company, Educational Institutes, Real Estate Organizations etc.
• Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
• Associations and Industry Bodies: Centers for Disease Control and Prevention (CDC), National Institute of Allergy and Infectious Diseases (NIAID), Food and Drug Administration (FDA), World Health Organization (WHO), Medicines and Healthcare Products Regulatory Agency (MHRA), Therapeutic Goods Administration (TGA), Central Drug Standard Control Organization (CDSCO), Ministry of Health, Labor and Welfare (MHLW), International Federation of Pharmaceutical Manufacturers & Association (IFPMA), World Trade Organization (WTO), Indian Medical Research Council (ICMR).

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