Drivers such as hike in demand for security and safety among corporate and government buildings and increase in the use of IoT in security systems propel the growth of the Russian intelligent eavesdropping detection system market. The spread of Coronavirus has limited the growth of the Russian intelligent eavesdropping detection system market, and is anticipated to witness restricted growth due to partial and complete lockdown across the world.
Portland,OR, Sept. 28, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Russian intelligent eavesdropping detection system market generated $48.6 million in 2020, and is anticipated to reach $126.9 million by 2030, exhibiting a CAGR of 11.0% from 2021 to 2030. In-depth information about key drivers, restraints, opportunities, and their impact analysis on the market is provided in the report.
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Rise in awareness of the need for intelligent eavesdropping detection systems and hike in need for safety and protection are the factors favourable to the market growth.
However, the high cost associated with the eavesdropping detection system and high privacy concerns will create restraints for the market growth. Moreover, rise in competition and limited awareness among small-scale manufactures will hamper the growth of the market. On the other hand, growth in the adoption of cloud-based solutions in the security industry will open many doors of opportunities for the market.
Activities of production and manufacturing sectors were heavily affected due to the outbreak of COVID-19. This led to a slowdown in the growth of the Russian intelligent eavesdropping detection system market.
Demand for smart and wireless communication devices such as eavesdropping detection systems is expected to rise due to the increase in need of robust security and secured data sharing.
The report offers detailed segmentation of the Russian intelligent eavesdropping detection system market based on type and end users.
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Based on type, the hardware segment accounted for the largest market share in 2020, contributing to more than two-fifths of the total share. On the other hand, the software segment is estimated to witness the fastest CAGR of 11.9% from 2021 to 2030.
Based on end user, the government segment contributed to the largest share in 2020, accounting for more than one-third of the Russian intelligent eavesdropping detection system market. The same segment is expected to lead the market throughout the forecast period. On the other hand, the industrial segment is expected to manifest the highest CAGR of 13.2% from 2021 to 2030.
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Leading players of the Russian intelligent eavesdropping detection system market analyzed in the research include Universal Agency In Counter Intelligence Services (UNACIS), Business Espionage Counteraction Laboratory (Laboratory PPS), CRFS Limited, DigiScan Labs, Eclipse Support Services Ltd, Elvira, AR Intelligence Agency Sdn Bhd (AR Intell), Esoteric Ltd, JJN Electronics Ltd. (JJN Digital), Kroll, LLC, ACUSTEK Limited, Menvier-Swain Group plc (Westminster Group Plc), Mobius International Ltd, Sekotech Ltd, Selcom Security, Signal-T, Suritel, Telesystems Ltd. (TS-Market Ltd.), STT Group, Waypoint Counter Surveillance Inc. and Granite Island Group.
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