Security Solutions - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Security Solutions Market is accounted for $281.11 billion in 2020 and is expected to reach $647.83 billion by 2028 growing at a CAGR of 11.0% during the forecast period. Increasing security concerns, globally growing crime rates and terrorist activities, increasing consumer awareness, and surging demand for deployment of wireless technology in security systems are driving the market growth. However, high installation, operational, and maintenance costs are hampering the growth of the market.
Security solutions consist of a security system that prevents unauthorized intrusion and access into personal, government, and defense premises, among others, and if such attempts are made, then the security system reports these attempts. Security solutions are mainly designed to protect the broad range of threats such as espionage, accidents, fire, subversion, crime, and attack. Security solutions protect physical infrastructure as well as software data of organizations from theft or damage. These security solutions are responsible for the assurance of the software or hardware within the company is being well protected. The need for the implementation of a data security threat is prevalent due to the rise in the frequency and complexity of data security threats.
Based on the end user, the commercial segment is going to have lucrative growth during the forecast period due to the increasing incidences of robbery and theft. To protect commercial assets, property owners are buying security systems, and also, since robbery and information security are major concerns nowadays, with the intention of increasing security, protecting people and assets, and solving security issues the corporate are investing millions of dollars in security technology.
By geography, North America is going to have high growth during the forecast period as most of the residential and commercial buildings in this region are equipped with fire protection systems, due to firm fire and safety protection norms. North America is one of the early adopters of security technologies such as access control, video surveillance, and fire protection system, among others and strong growth in banking and financial services provides plentiful growth opportunities for the security solutions market in this region.
Some of the key players profiled in the Security Solutions Market include Honeywell International Inc., Johnson Controls, Robert Bosch, Dahua Technology Co., Ltd, Axis Communications AB, Nortek Security & Control, United Technologies, Siemens, Hochiki Corporation, Hormakaba Holding AG, Allegion plc, Hikvision Digital Technology, and Tyco International.
• Remote Monitoring
• Video Monitoring
• Security System Integration
• Video Surveillance Systems
• Fire Protection Systems
• Access Control Systems
• Wireless Systems
• Fire Protection Services
• Video Surveillance Services
• Access Control Service
• Remote Monitoring Services
End Users Covered:
• Sports and Leisure
• Military & Defense
• Banking & Finance
• Energy and Utility
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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