The ‘Global Security Market Share, Size, Price, Trends, Growth, Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global security market, assessing the market on the basis of its segments like systems, services, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Security Market Price, Trends, Size, Share, Industry, Key Player, Major Segments, Report and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 10.5%
The heightened applications of security systems across various end use industries including military and defence, commercial, transportation, and government, among others, is driving the market growth. Security provides peace of mind and prevents major mishaps such as theft, murder, fraud, and kidnaps, among others. The increasing prevalence of criminal activities across various industries worldwide is accelerating the global security market growth.
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The increasing demand for efficient and reliable security systems in the commercial sector is further propelling the market numbers. Commercial spaces such as shopping malls, theatres, railway stations, airports, and spiritual places, among others, have been witnessing a surge in crime. Hence, the increasing efforts aimed towards improving the safety of the public is generating the demand for security through access control systems, alarms and notification systems, and video surveillance systems, among others.
The favourable initiatives by governments of developed and developing economies, targeted towards improving the safety across residential and industrial sectors, owing to the heightened cases of sexual assaults, robbery, and homicides, among others, are expected to fuel the security market in the coming years.
Security Industry Definition and Major Segments
Security is defined as a system which aims at preventing mishaps, curbing threats, and ensuring the safety and security of human life and property. Security employs various personnel along with technological systems which are capable of holding information records and keeping track of suspicious activities. Security is essential across various end use industries which is a reason for the flourishing of the global market for security.
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Based on system, the market is segmented into:
• Access Control Systems
• Alarms and Notification Systems
• Intrusion Detection Systems
• Video Surveillance Systems
• Barrier Systems
• Others
By service, the market has been divided into:
• System Integration and Consulting
• Risk Assessment and Analysis
• Managed Security Services
• Maintenance and Support
On the basis of application, the market has been classified into:
• Government
• Military and Defence
• Transportation
• Commercial
• Industrial
• Others
On the basis of region, the market can be categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Security Market Trends
The key trends in the global security market include the technological advancements in security systems, which include the incorporation of artificial intelligence (AI) and machine learning (ML). The progressive product innovations by security providers are likely to provide impetus to the market by improving the reliability of security systems. Using technology to reduce the need for security personnel is a key trend in the market, as companies and governments move to optimise their security systems while reducing costs.
The rising expenditure of governments of sovereign nations in the military and defence sector is leading to more sophisticated security systems. Over the forecast period, the increasing geopolitical tensions and territorial intrusions are expected to fuel the market growth.
In geographical terms, Asia Pacific is expected to offer decent opportunities to the global security market. Countries such as India, Bangladesh, and Sri Lanka, have a substantial security problem in the semi-urban areas which is expanding the scope of the market.
Key Market Players
The major players in the security market report are:
- Ameristar Perimeter Security
- ATG Access Ltd.
- Avon Barrier Corporation Ltd.
- Barrier1 Systems, LLC
- CIAS Elettronica Srl
- Delta Scientific Corporation
- EL-Go Team
- Teledyne FLIR LLC
- Frontier Pitts Ltd
- Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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