Explaining Guard Tour System
A guard tour patrol system is a system designed for logging the rounds of employees in situations such as security guards patrolling property, technicians monitoring climate-controlled environments, and correctional officers checking prisoner living areas. It ensures that the employee makes his or her appointed rounds at the assigned intervals and can provide a record for legal or insurance reasons. Such systems have existed for many years using mechanical watchclock-based systems. Modern systems are based on handheld data loggers and RFID sensors.
The system offers a means to record the time when the employee reaches to certain points on their tour. Checkpoints or watch stations are generally placed at the extreme ends of the tour route and at critical points, such as vaults, specimen refrigerators, vital equipment, and access points. Some systems are designed so that the interval between stations is timed so if the employee fails to reach each point within a set time, other staffs are dispatched to ensure the employee's well-being.
Industries that Need Guard Tour System
The implementation of a guard tour system helps companies to monitor their officers precisely in time and manage their assets more effectively and efficiently. It also upgrades their security services. So, many different industries can take advantage of the use of a guard tour system:
- Security companies: to monitor officers / lone workers, manage guard tours, and conduct reports.
- Educational institutes: to amplify the safety of their students
- Real estate organizations: to manage their buildings and protect them from damage
- Public transportation services: to direct activities and manage daily incidents
- Finance institutes: to be safe from external threats
- Warehouse departments: to assure the security status of their merchandise
- Manufacturing facilities: to protect from damages and record incidents in every aspect of manufacture process
- Cleaning and maintenance services: to manage their installations and workers
Expected Scenario for Global Guard Tour System Market
According to a detailed report by GMR, the global guard tour system market was valued around at USD 220.1 million in 2019 and is projected to reach USD 273.3 million by 2027, expanding at a CAGR of nearly 3.9% during the forecast period, 2020-2027.
The market is driven by factors such as rise in the utilization of real-time tracking, incorporation of technology, and increasing security breaches and sophisticated attacks across enterprises and countries. Moreover, growing adoption of guard tour systems in emerging countries is driving the market growth. However, high costs of guard tour systems and lack of awareness among consumers are some of the major restraining factors of this market. Rising adoption of cloud-based systems and increasing adoption of surveillance systems are key factors that are projected to generate lucrative opportunities for the market growth.
Market Segmentation Insights
On the basis of types, the global guard tour system market is segmented into web-based, local network client-server, and desktop. The web-based segment is estimated to account for an impressive share of the market during the forecast period attributing to the ease of access to the data and security of the data. Web-based services are utilized for tracking and analyzing data with the help of software. The system uses combination of advanced technologies such as Internet of things (IoT) for analyzing the data. The IoT connects devices that are utilized for managing and tracking the activities in different locations. It provides access to information of the activities of the guards, present in various locations, which is one of the major advantages for this system. Rising access to Internet is one of the major factors propelling the demand for web-based systems. The web-based system is also utilized for establishing connection 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, this segment is projected to expand at a substantial CAGR of 4.1% during the forecast period.
Based on patrol systems, the guard tour systems market is segmented into wand guard patrol systems and cloud guard patrol system. The cloud guard patrol system segment is anticipated to expand at a CAGR of 4.1% attributing to the rising use of mobile & cloud-based technology for tracking and analyzing data and utilizing mobile application. The wand guard patrol systems segment is anticipated to account for 50.8% share of the market by 2027 due to rising 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 accounted for a major share of the market and is anticipated to expand at a substantial CAGR during the forecast period. This segment is anticipated to constitute one-fifth 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 augmenting the segment growth.
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. Security companies offer services such as the installation and maintenance of electronic security products. These companies offer services such as patrolling services and security guards to organizations and private institutes to prevent security breaches and unauthorized activities. Rising awareness regarding safety among customers is augmenting the growth of the market. The security companies segment is anticipated to constitute for a substantial share of the market by 2027 owing to the increasing demand for security services and rising number of security breaches.
Regional Market Outlook
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is a lucrative region for the market. It accounted for a massive share of the market in 2019. The market in the Asia Pacific is anticipated to expand at a substantial CAGR during the forecast period. This is due to the increasing demand for guard tour systems from end-users industries, such as security companies, educational institutes, real estate organizations, and public transport services, is projected to rise during the forecast period. The market in North America is expected to hold a substantial market share due owing to the early adoption of latest technologies and presence of prominent players in the region.
Prominent Market Players and Competitive Landscape
Key players in the global guard tour systems market include Oysta Technology, TimeKeeping Systems Inc., Mantech intellisys, TopSecu Technology Limited, Technology Sdn Bhd, and Morse Watchmans. 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.
Most of these leading manufacturers are constantly engaged in the product launches and expansion of their production units in other countries, entering merger and acquisition, collaboration, and partnerships to enhance their market position in the global competition.
For instance, In July, 2020, Gallinet Ltd. rolled out PeopleHours version. This helped the company to increase its services. The new version has features and performance improvements to its predecessor application.