Security Market

Introduction of the Security Market Report

Security refers to the systems and services used for monitoring and preventing crime in private and public locations. The security system consists of interworking components and devices including IP cameras, digital video recorders, alarms & notification systems, intrusion detection systems, barrier systems, and others that help in reducing theft and vandalism and improving safety in residential, commercial and industrial sectors.

Major Security Market Drivers

Growing private and public infrastructure; growing IT spending and adoption of IoT devices for surveillance and security; the increasing number of illegal events, terrorism, and fraudulent activities; and government initiatives towards increasing security are some of the major factors expected to drive the growth of the security market size over the forecast period. In addition, the security systems offer various benefits including remote monitoring, video surveillance, maintaining records for information, monitoring activities in residential areas, and security against external threats at different locations. This is further expected to propel the market growth. Moreover, increasing technological advancements, high penetration of internet connectivity, growing use of mobile applications, cloud computing technology, integration of artificial intelligence and machine learning capabilities in security systems offer real-time surveillance at remote and critical locations with accuracy, which is anticipated to stimulate the demand of the security systems and services during the forecast period.

Restraint in the Security Market

However, high cost of advanced security and surveillance system including smart cameras and biometric systems is expected to restraint the growth of the market over the forecast period. Additionally, rising concerns towards cyber-attack and data theft may hamper the security market share in the coming years.

System – Segment Analysis

Based on the system, video surveillance systems segment is projected to account for a notable share in the market primarily due to the increasing demand for wireless and spy cameras, IP cameras, video management software, and other for the safety and security of residential buildings, commercial spaces, ports, transportation infrastructure, banks, educational institutes, public places, and others. Additionally, these systems help in real time monitoring of theft, movement of objects, and other criminal activities which further contributes to the market growth.

 Service – Segment Analysis

Based on the service, the managed services segment is expected to grow at a significant CAGR over the forecast period. This is primarily due to its benefits including professional monitoring and management and protection of hardware and data from potential cyberattacks. Increasing demand for mobile workforce and mobile devices and deployment of wireless technology in security systems are expected to further drive the growth.

End-User – Segment Analysis

Based on end-user, military and defence segment is expected to grow at a prominent CAGR during the forecast period owing to the increasing incidences cross-border intrusions, civil wars, and terrorist attacks globally. Moreover, growing deployment of multispectral cameras, automatic plug-and-play cameras, built-in image processing cameras, and others is anticipated to further drive the market growth.

Regional – Segment Analysis:

Based on region, North America is anticipated to hold a prominent market share during the forecast period. This can be attributed to growing number of smart cities, increasing number of security breaches, illegal activities, theft and rising awareness towards the importance of monitoring systems in residential and commercial sectors. There has been a rapid adoption of security systems and services in defence sector and according to the Stockholm International Peace Research Institute (SIPRI), the military expenditure for the United States for the fiscal year 2019 was $732 billion. The defence spending accounts for 15 percent of all federal spending in U.S. This is expected to accelerate the growth of the market over the forecast period.

Top Market Players

Several leading Security companies operating in the market, include, Ameristar Perimeter Security, ADT LLC, Southwest Microwave, Inc., Anixter, Inc., Perimeter Protection Germany GmbH, Johnson Controls International Plc, Honeywell International, Inc., ZABAG Security Engineering GmbH, FLIR Systems, Inc., and Axis Communications AB among others. 

Key Developments: 

• • In 2020, ADT LLC, one of the leading providers of security and smart home solutions partnered with Google to create the next generation of smart home security offerings. This will combine Nest hardware and services, powered by Google’s machine learning technology, with ADT’s installation, service and professional monitoring network to develop better smart security solutions in business industry and residential sector.

Segments covered in the Report:

The global Security Market has been segmented on the basis of system, service, end-user, and key regions. Based on system, the market is segmented into access control systems, alarms & notification systems, intrusion detection systems, video surveillance systems, barrier systems, and others. Based on the service, the market is segmented into system integration and consulting, risk assessment and analysis, managed services, and maintenance and support. Based on end user, the market is segmented into government, military and defence, transportation, commercial, industrial, and others. 

Key questions answered in this research report:

• • At what pace is global Security Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Security 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 Security Market?
  • Which system generated maximum revenues in 2020 and identify the most promising system during the forecast period?
  • What are the various end-users of global Security 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 Revenues (2023)	USD Million
Market Base Year	2023
Market Forecast Period	2024-2031
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By System, By Service, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Ameristar Perimeter Security, ADT LLC, Southwest Microwave, Inc., Anixter, Inc., Perimeter Protection Germany GmbH, Johnson Controls International Plc, Honeywell International, Inc., ZABAG Security Engineering GmbH, FLIR Systems, Inc., and 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 Security Market by System

• • Access Control Systems
  • Alarms & Notification Systems
  • Intrusion Detection Systems
  • Video Surveillance Systems
  • Barrier Systems
  • Others

Global Security Market by Service

• • System Integration and Consulting
  • Risk Assessment and Analysis
  • Managed Services
  • Maintenance and Support

Global Security Market by End-User

• • Government
  • Military and Defence
  • Transportation
  • Commercial
  • Industrial
  • Others

Global Security Market by Region

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

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

• • Ameristar Perimeter Security
  • ADT LLC
  • Southwest Microwave, Inc.
  • Anixter, Inc.
  • Perimeter Protection Germany GmbH
  • Johnson Controls International Plc
  • Honeywell International, Inc.
  • ZABAG Security Engineering GmbH
  • FLIR Systems, Inc.
  • Axis Communications AB