Correctional Facilities Security Market Analysis by Internal Security Technologies and Inmate Management (Video Surveillance and analytics, Access Control, and Others); by Perimeter Security Technologies (PSIM, Metal Detectors, and Others); by Contraband Smuggling Screening Technologies (Metal Detectors, Access Control, and Others); and by Life Outside of Prison Technologies (Electronic Monitoring)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

Global Correctional Facilities Security Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global correctional facilities security market is estimated to garner a substantial revenue by the end of 2031 by growing at a noteworthy CAGR over the forecast period, i.e., 2022 – 2031. Further, the market generated sufficient revenue in the year 2021. The security at correctional facilities keeps the staff and inmates safe in the setting. The growth of the global correctional facilities security market in the forecast period is to be mainly attributed to the appalling crime rates worldwide. For instance, the crime rates of the top ten countries in 2022 vary from ~67 crimes in per 100,000 people to ~84 crimes per 100,000 people. Additionally, the average crime rate across the globe is about 45 crimes per 100,000 people.

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It is estimated that in 2020, the U.S. alone witnessed more than 538,200 violent crimes and about 640,837 offenses. Several reasons lead to such varying crime rates among the different countries. Some factors tend to increase the crime rates of different nations. These include unemployment, inequality, and high poverty levels. Additionally, the age of the criminals also plays a significant role, as many violent crimes are committed by people between 20-30 years old. Strict law enforcement and correctional facility are the requirements to reduce crime rates, and thus, the increasing number of crimes points to the potential growth of the global correctional facilities security market

Global Correctional Facilities Security Market: Growth Drivers and Challenges

Growth Drivers

• Frightening Proportion of Prisoners Globally - It is observed that there are about 11 million new jail admissions yearly around the world.  In the United States (U.S.) alone the population of prisoners in 2022 is ~2 million. The most common crime in the world is larceny which constitutes more than 1500 incidences per 100,000 people.  In the U.S., nearly 16% of prisoners are serving time in prison for murder, while ~46% are imprisoned for drug offenses. Incarceration of offenders is done considering many factors, including punishment and justice. Thus, a correctional facility is considered a prerequisite for public safety, as incarcerating people committing crimes, especially ones of violent nature, ensures the safety of the rest of society.

• High Requirement for Security in the Prisons – According to the Federal Bureau of Prisons, prisoners have been assigned different security levels for the safety of all federal inmates. These include minimum (14.6% of inmates), low (35.8%), medium (33.3%), high (12.5%), and unclassified (3.7%).

• Increased Use of Drones – Presently, drones are increasingly being used for commercial purposes. But they also serve certain governmental and military requirements. But inadequate regulations often lead to their uncontrolled use. The number of drones that got registered in the U.S. by January 2021 is about 1,782,480. Also, it is estimated that ~16% of Americans have flown a drone.

• Reduced Crimes with Surveillance - The surveillance techniques employed as part of law enforcement have been observed to reduce the possibilities of crime. For instance, the crime rates in parking lots and town centers installed with closed-circuit television (CCTV) showed a remarkable reduction in crime occurrences with ~52% and ~11%, respectively.

• Despairing Poverty, Being the Root Cause of Crimes - It is estimated that up to 96 million people should be newly experiencing extreme poverty in 2022, different from the pre-COVID-19 forecast. This is mainly due to the financial crisis caused by the pandemic, the Ukraine war, and the resultant inflation.

Challenges

• Generally Inadequate Funding to the Correctional Facilities

• Advanced Technology Inadvertently Helping Influx of Contrabands

• Imminent Vulnerability to Cyber Attack

The global correctional facilities security market is segmented and analyzed for demand and supply by perimeter security technologies into video surveillance & analytics, drone security, counter-drone security, detection sensors, and PSIM. Of these the video surveillance & analytics segment is anticipated to hold the largest market size by the end of 2031. The market growth should be primarily attributed to the growth and effective use of modern technologies like artificial intelligence (AI), cloud computing, deep learning, and computer vision technologies. For instance, investment in AI has been increasing considerably. As of 2022, ~92% of top businesses invest in AI regularly. Moreover, it is estimated that ~7% of government and public sectors and ~4% of defense and security use AI for various purposes. Organizations also seem to display considerable trust in aspects like cloud computing. For instance, ~49% of organizations choose to store their crucial and classified data in the cloud.

Global Correctional Facilities Security Market Regional Synopsis

Regionally, the global correctional facilities security market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in the North American region is projected to hold the largest market share by the end of 2031. The presence of a vast prison network system in the U.S. is considered the primary reason for the market growth in the region. It is estimated that ~21% of prisoners in the world are held in prisons in the U. S. As of 2022, the crime rate in the U.S. was determined to be ~48 occurrences per 100,000 people.  In 2019, the prisoner population in the U.S. federal and state prisons was estimated to be about 1,380,430. Abject poverty, lack of opportunities for education and employment, abuse of alcohol and drugs, racial disparity, mental illness, and exposure to other offenders are common reasons for the high prisoner population and large prison system in the region. The immense need for a correctional facility leads to the growth of the correctional facilities security market in North America.

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Market Segmentation

Our in-depth analysis of the global correctional facilities security market includes the following segments:

Key Companies Dominating the Global Correctional Facilities Security Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global correctional facilities security market that are included in our report are ADANI SYSTEMS, Inc., Advanced Perimeter Systems Limited, Black Creek ISC, Bosch Security Systems, LLC, CENTRAL SQUARE, Costruzioni Elettroniche Industriali Automatismi C.E.I.A. SpA, Eagle Advantage Solutions, Inc., Geutebruck.,  Guardian Security Solutions, Montgomery Technology, Inc., and others.

Global Correctional Facilities Security Market: Latest Developments

• June, 2022: Bosch Security Systems, LLC - introduced the MIC IP fusion 9000i 9mm camera for extended thermal view (70° x 52°) and 360-degree coverage in only 30 seconds.

• November, 2021: ADANI SYSTEMS, Inc. - announced winning an Ohio Department of Corrections' multi-year multi-million-dollar contract for its full-body scanners that are the first in the market to completely comply with the Criminal Justice Information Services (CJIS) policy by the Federal Bureau of Investigation (FBI).

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• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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