Commercial Security System Market

Introduction of the Commercial Security System Market Report

Commercial Security is the approach and structures used by a business or commercial property to protect itself against risks like an intrusion, fire, or vandalism. High-tech lock systems, burglar-proof window frames and doors, security guards, computer security software, video surveillance and alarm systems are some of the well-known systems of security.

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Market Dynamic

Key Drivers and Emerging Trends

The factors driving the global Commercial Security System market include the rising number of terrorist activities and organized crimes around the world, growing construction industry, expanding use of IP cameras, accelerating the implementation of stringent fire protection regulations, and rising adoption of IoT-based security systems powered by cloud computing platforms. Moreover, accelerating the implementation of stringent fire protection-related regulations is another key factor anticipated to boost the growth of the market. The security market is predicted to grow in the government and law enforcement end-use sectors due to the increased crime rates. Also, governments across various nations are undertaking initiatives to reduce the crime rate. For example, the reduction of manpower involved in performing critical jobs at hazardous locations, and replacing them with surveillance systems, is expected to drive the market growth. Furthermore, increasing awareness among several domains, growing security concerns, expanding use for wireless technology in security systems, rising installation of new technological solutions and availability of devices at a low-priced, increasing usage of various cameras by the government and application of data-driven solutions such as analytics are other key drivers responsible for the growth of the market. Increasing usage of technology-driven solutions, for example, CCTV cameras and analytics, are expected to stimulate market growth over the forecast period.

Restraint in the Commercial Security System Market

However, high initial costs associated with the installation and maintenance of access control systems are a key restraining factor hindering the commercial security market growth.

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Hardware Offering – Segment Analysis

Based on the Hardware Offering, the Video Surveillance segment is expected to grow at a higher CAGR during the forecast period. The increased installation of IP cameras made video surveillance cost-effective as initial installation charges are minimized. Moreover, high-definition IP cameras offer significantly improved capabilities. Hence, better functionalities ranging from basic to advanced analytics, improved performance, and increased facilities – all available at an economical cost – have led to a growth in the video surveillance market.

Software Offering – Segment Analysis

Based on the Software Offering, the Video Surveillance Software segment is expected to grow at a higher CAGR during the forecast period. The main reason for this is the increasing adoption of artificial intelligence (AI) technology in video surveillance systems. The capability of AI to analyze pictures and audio from the live streams of video surveillance and recordings, combined with its ability to utilize image recognition algorithms to recognize faces, objects, and events, is driving the video surveillance software market globally.

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Regional – Segment Analysis:

Based on the region, the Asia-Pacific region is projected to dominate the market during the forecast period. It is expected to observe increasing adoption in this region as the countries in the region are developing economies with a growing number of manufacturing industries; there is also a constant risk of terror attacks in the region. The market in Asia-Pacific has a high growth potential due to increased security concerns, especially in India and China; the governments in these countries have started funding heavily in security. Furthermore, these countries are working toward modifying their infrastructure, which is expected to influence the growth of access control systems and solution market. The increasing adoption of access control systems in small- and medium-sized enterprises, hospitality businesses, airports, banks, and religious places is expected to propel market growth.

Top Market Players

Various notable players operating in the market include Johnson Controls., Hangzhou Hikvision Digital Technology Co., Ltd., Carrier., Honeywell International Inc., Dahua Technology Co., Ltd, ADT., Allegion plc, ASSA ABLOY, Avigilon Corporation, Axis Communications AB., among others. 

Key Developments:

• • In 2020, Johnson Controls procured the remaining stocks in Qolsys Inc., a leading residential and commercial security and smart-home manufacturer. This acquisition is expected to embrace long-term opportunities for broad cloud-enabled IoT solutions in its fire safety business.
  • In 2020, Hangzhou Hikvision Digital Technology Co., Ltd. launched a new generation of wireless alarm systems—AX PRO—delivering comprehensive alarm systems for commercial applications. It has a compact panel hub for a diverse range of detectors and peripherals, comprising intrusion detection, video authentication, smoke detection, and home automation.
  • In 2020, Carrier’s subsidiary LenelS2 signed a 10-year agreement with Milestone Systems to distribute Milestone products all over the globe. It allows for the joint offering of LenelS2 OnGuard access control and Milestone XProtect video management software that will reduce the overall cost of ownership for end-users and integrators.

Segments covered in the Report:

The global Commercial Security System market has been segmented on the basis of Hardware Offering, Service Offering, Software Offering, Vertical and regions. Based on Hardware Offering, the market is segmented into Fire Protection System, Video Surveillance, Access Control System and Entrance Control System. Based on Service Offering, the market is segmented into Security System Integration Service, Remote Monitoring, Fire Protection Service, Video Surveillance Service and Access Control Service. Based on Software Offering, the market is segmented into Fire Analysis, Video Surveillance Software and Access Control Software. Based on Vertical the market is segmented into Commercial, Government, Transportation, Retail, Banking and Finance, Education, Industrial, Energy and Utility, Sports and Leisure and Healthcare. 

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Key questions answered in this research report:

• • At what pace is global Commercial Security System market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Commercial Security System market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Commercial Security System market?
  • Which Hardware Offering generated maximum revenues in 2019 and identify the most promising Hardware Offering during the forecast period?
  • What are the various Service Offering areas of global Commercial Security System market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Hardware Offering, By Service Offering, By Software Offering, By Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Johnson Controls., Hangzhou Hikvision Digital Technology Co., Ltd., Carrier., Honeywell International Inc., Dahua Technology Co., Ltd, ADT., Allegion plc, ASSA ABLOY, Avigilon Corporation, Axis Communications AB., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Commercial Security System Market by Hardware Offering

• • Fire Protection System
  • Video Surveillance
  • Access Control System
  • Entrance Control System

Global Commercial Security System Market by Service Offering

• • Security System Integration Service
  • Remote Monitoring
  • Fire Protection Service
  • Video Surveillance Service
  • Access Control Service

Global Commercial Security System Market by Software Offering

• • Fire Analysis
  • Video Surveillance Software
  • Access Control Software

Global Commercial Security System Market by Vertical

• • Commercial
  • Government
  • Transportation
  • Retail
  • Banking and Finance
  • Education
  • Industrial
  • Energy and Utility
  • Sports and Leisure
  • Healthcare

Global Commercial Security System Market by Region

• • North America Commercial Security System Market (Option 1: As a part of the free 25% customization)
    • North America Commercial Security System Market by Hardware Offering
    • North America Commercial Security System Market by Service Offering
    • North America Commercial Security System Market by Software Offering
    • North America Commercial Security System Market by Vertical
    • US Commercial Security System Market All-Up
    • Canada Commercial Security System Market All-Up
  • Europe Commercial Security System Market (Option 2: As a part of the free 25% customization)
    • Europe Commercial Security System Market by Hardware Offering
    • Europe Commercial Security System Market by Service Offering
    • Europe Commercial Security System Market by Software Offering
    • Europe Commercial Security System Market by Vertical
    • UK Commercial Security System Market All-Up
    • Germany Commercial Security System Market All-Up
    • France Commercial Security System Market All-Up
    • Spain Commercial Security System Market All-Up
    • Rest of Europe Commercial Security System Market All-Up
  • Asia-Pacific Commercial Security System Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Commercial Security System Market by Hardware Offering
    • Asia-Pacific Commercial Security System Market by Service Offering
    • Asia-Pacific Commercial Security System Market by Software Offering
    • Asia-Pacific Commercial Security System Market by Vertical
    • China Commercial Security System Market All-Up
    • India Commercial Security System Market All-Up
    • Japan Commercial Security System Market All-Up
    • Rest of APAC Commercial Security System Market All-Up
  • RoW Commercial Security System Market (Option 4: As a part of the free 25% customization)
    • RoW Commercial Security System Market by Hardware Offering
    • RoW Commercial Security System Market by Service Offering
    • RoW Commercial Security System Market by Software Offering
    • RoW Commercial Security System Market by Vertical
    • Brazil Commercial Security System Market All-Up
    • South Africa Commercial Security System Market All-Up
    • Saudi Arabia Commercial Security System Market All-Up
    • UAE Commercial Security System Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Commercial Security System Market All-Up

Major Players Operating in the Commercial Security System (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Johnson Controls.
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Carrier
  • Honeywell International Inc.
  • Dahua Technology Co., Ltd
  • ADT
  • Allegion plc
  • ASSA ABLOY
  • Avigilon Corporation
  • Axis Communications AB.