Security Market Size Worth $167.12 Billion By 2025

The global security market size is anticipated to reach USD 167.12 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 10.3% during the forecast period. The adoption of security systems is increasing as they offer high quality surveillance with optimized distortion. Rise in illegal activities across the globe coupled with stringent government regulations has led to a surge in adoption of security systems.

Increasing competition in the market, owing to the introduction of advanced technologies, is driving the need for automation in organizations at various levels. In addition, growing number of infrastructures across the globe has resulted in increased demand for safety systems such as access control systems and video surveillance system for real-time monitoring. As a result, the demand for security systems is anticipated to rise over the forecast period.

The video surveillance systems segment led the market in 2018. Rising use of cameras in various locations, such as airports, railway stations, and ports, for security purposes, is driving the demand for high-quality video cameras that enable effective monitoring. These systems are largely being used by the military and defense sector for surveillance purposes.

The maintenance and support segment is anticipated to witness substantial growth, owing to the need for regular maintenance, post installation. The demand for these services is expected to increase over the forecast period. Increasing number of advancements in video capturing is encouraging providers to introduce new updates in minimal time with better quality. This is further creating an opportunity for growth of the security market.

Governments of various nations such as U.S. and Canada have initiated implementation of security systems and are emphasizing on cross border safety. Suppliers are focusing on collaborations with other manufacturers for achieving enhanced product features and improved performance. Advanced systems help effectively monitor the surrounding activities with optimized power consumption.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/security-market

Further key findings from the study suggest:

Security systems segment is expected to account for the highest market share in terms of revenue, witnessing the highest CAGR of 10.0% from 2019 to 2025
Demand for security system has been increasing over the years, owing to the increasing awareness regarding safety concerns and adoption of advanced systems with real-time monitoring support
North America is expected to continue to lead the security market over the forecast period and reach USD 53.15 billion by 2025
Key market players are Anixter International, Inc.; Tyco International Plc.; Honeywell International, Inc.; FLIR Systems, Inc.; Axis Communications AB; and Senstar Corporation

Physical Security Market Worth $171.0 Billion By 2027

The global physical security market size is expected to reach USD 171.0 billion by 2027 and is anticipated to register a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. Lack of physical security leads to higher rates of burglaries and thefts. Therefore, safeguarding the physical perimeter and individual assets, including expensive technological equipment, has gained importance and is driving the market growth. Increasing awareness about securing the perimeter in developing economies has led to a rise in deployment of IP-based cameras in residential societies as well as commercial complexes and offices. Furthermore, increasing terror threats, border disputes, and refugee crises drive the adoption of stringent safety measures, thereby driving the physical security market growth.

Governments across different countries and regions are taking up smart city initiatives to enhance their infrastructure and are hence deploying improved security systems. Additionally, modernizing the existing infrastructure with robust security measures and strengthening the security of government agencies have been some of the top priorities for governments across developed countries. Organizations are increasingly concerned about employee safety and are hence setting up systems to prevent unauthorized access, further driving the demand for physical security solutions.

China accounted for the largest share of the Asia Pacific market in 2019. The market in China has been strongly supported by the growth in new construction projects and smart city initiatives. Furthermore, the presence of technology giants such as Hangzhou Hikvision Digital Technology Co., Ltd and Dahua Technology Co., Ltd is another factor contributing to the market growth. Companies in the market are focusing on strategic partnerships and acquisitions to enhance their product and service offerings. In August 2019, Dahua Technology Co., Ltd entered into a strategic alliance with Pepper to offer enhanced security to its video as well as non-video IoT services to protect against unauthorized access of data. The partnership would allow the incorporation of Pepper’s intelligent solutions into Dahua Technology Co., Ltd’s hardware.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/physical-security-market

Further key findings from the study suggest:

Video surveillance dominated the physical security market with a value of USD 33.1 billion in 2019 as these systems enable real-time continuous monitoring and help lower chances of theft
System integration is anticipated to dominate the market through the forecast period owing to factors such as stringent regulations and demand for cost-effective systems
The residential segment is anticipated to register the highest CAGR of more than 7.0% over the forecast period owing to measures taken by consumers to protect their assets from potential threats
Key companies in the market include Hangzhou Hikvision Digital Technology Co., Ltd.; Honeywell International, Inc.; Johnson Controls; Robert Bosch GmbH; and ADT. These players focus on adopting strategies such as mergers and acquisitions to enhance their market presence

Perimeter Security Market Worth $29.6 Billion By 2025

The global perimeter security market size is expected to reach USD 29.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.7% over the forecast period. Increasing insecurities among civilians and rising illegal activities, such as planned crimes, thefts, smuggling, and human trafficking, have resulted in a rise in the adoption of perimeter security systems.

Technological proliferations have led to the growth of smart cities and infrastructure. As a result, implementation of security systems at commercial complexes, entertainment hubs, and public sites is on the rise. Integration of these safety systems with internet and the latest mobile devices has made surveillance easier.

Perimeter security systems are used to detect intrusion to any of the guarded facility and later alert the guards in order to take the subsequent steps. They ensure the safeguarding of the privately owned lands or industrial facilities and are also widely used in security systems and alarms, such as intruder alarms and video surveillance systems.

These systems can protect not only the insides of business or industrial premises but also the articles and objects of value located within the guarded area to ensure the protection against vandalism and burglary. They are widely used in facilities with large ground areas, such as logistical centers and business centers. Moreover, they find their application in industrial enterprises and factories as they have significant property assets.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/perimeter-security-market

Further key findings from the study suggest:

The system integration and consulting service segment dominated the market in 2018 and is estimated to generate a revenue of USD 3.2 billion by 2025. These services help businesses create opportunities to drive high performance and accelerate business innovation
The video surveillance system segment is anticipated to witness the fastest growth and expand at a CAGR of 8.7% over the forecast period owing to growing concerns over public safety, surging demand for spy cameras, and increasing adoption of IP cameras
Based on the end use, the military and defense segment captured a major market share in terms of revenue and is expected to reach USD 7.9 billion by 2025
The market in Asia Pacific is projected to witness substantial growth over the forecast period owing to increasing infrastructure developments. It is expected to reach USD 8.8 billion by 2025
Key players including Anixter International Inc.; Axis Communications AB; Honeywell International, Inc.; RBtec Perimeter Security Systems; FLIR Systems, Inc.; Puretech Systems; Senstar Corporation; and Tyco International Ltd. dominate the market.