According to a recent report published by Allied Market Research, titled, “Russian Intelligent Eavesdropping Detection System Market by Type and End User: Opportunity Analysis and Industry Forecast, 2021–2030,” The Russian intelligent eavesdropping detection market size was valued at $48.6 million in 2020, and is projected to reach $126.9 million by 2030, registering a CAGR of 11.0% from 2020 to 2030. The hardware segment accounted more market share than software in 2020 and is expected to maintain this trend during the forecast period.
The key factor that drives the growth of the Russian intelligent eavesdropping detection market include increase in demand for safety among government and corporate buildings and rise in usage of IoT in security systems. The key factors that hamper the growth of the Russian intelligent eavesdropping detection market analysis are high cost associated with eavesdropping detection system and concern regarding privacy. The opportunity lies in the growing adoption of cloud-based solutions in security industry.
There are various private and valuable data or information at government and corporate buildings, which need to be protected and kept private for safety and security purpose; therefore, the safety and security demand is increasing at such buildings. Similarly, the indication that an adversary or competitor is using illegal means to collect information is very important to be on top and safe. Such important detection and alert is given by eavesdropping detection system. All these factors are expected to drive the Russian intelligent eavesdropping detection market size in the country.
It is important to secure the confidential conversation and intellectual property information or data from theft and attackers. To achieve this safe and secure environment eavesdropping detection systems are widely used in government agencies and building, corporate sector, and more. The eavesdropping detection systems is composed of many expensive and costly components such as detectors, analyzers, thermal imagers, sensors, and more. These components add on the high cost for the forms or individuals. But to have quality detection and proper performance and to receive consistent results one needs to invest in high-quality equipment. The high cost associated with eavesdropping detection system is the key hurdle for the Russian intelligent eavesdropping detection market growth.
COVID-19 Impact Analysis
COVID-19 has caused the overall semiconductor industry to mobilize quickly and make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners across the globe.
Demand from the wireless communication segment is expected to increase, owing to factors such as rise in broadband usage, higher demand for cloud services, and video streaming. In addition, in the medium to long term, COVID-19 is expected to further push the need for digital transformation and technologies, such as 5G, IoT, AI, and intelligent edge computing, for future optimization.
Some of the Russian intelligent eavesdropping detection system driver manufacturers have witnessed temporary delays in Russian intelligent eavesdropping detection system production, increased costs, and revenue losses due to the pandemic.
The manufacturing sector witnessed severe loss, and thus no new orders have been placed during the pandemic. In addition, this impact is estimated to continue till 2021. Moreover, international consumer electronics and electric devices markets are in a very weak state, owing to lockdowns imposed to tackle the pandemic. Although the markets in the U.S. and Europe witnessed mild recovery in the second half of 2020, they are still significantly down on pre-crisis levels. Therefore, the Russian intelligent eavesdropping detection market trends is facing major obstacles from the emergence of COVID-19 pandemic.
The overall impact of the pandemic is impacting the production process of several industries, including semiconductor and electronics. Trade barriers are further constraining the demand and supply outlook. The overall production process is adversely affected as governments of different countries have already announced total lockdown and temporary shutdown of industries.
Key Findings Of The Study
- The hardware segment generated the highest revenue in 20202 during the forecast period.
- Government segment dominate the end use market in 2020.
The key players profiled in the Russian intelligent eavesdropping detection industry include ACUSTEK Limited, AR Intelligence Agency Sdn Bhd (AR Intell), Business Espionage Counteraction Laboratory (Laboratory PPS), CRFS Limited, DigiScan Labs, Eclipse Support Services Ltd, Elvira, Esoteric Ltd, Granite Island Group, JJN Electronics Ltd. (JJN Digital), Kroll, LLC, Menvier-Swain Group plc (Westminster Group Plc), Mobius International Ltd, Sekotech, Ltd, Selcom Security, Signal-T, STT Group, Suritel, Telesystems Ltd. (TS-Market Ltd.), Universal Agency In Counter Intelligence Services (UNACIS), and Waypoint Counter Surveillance Inc. These key players have adopted several strategies, such as new product launch & development, acquisition, partnership & collaboration, and business expansion to increase their footprint in the Russian intelligent eavesdropping detection market share during the forecast period.