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Global Security Solutions Market Forecast to 2029, by Systems, Services and Vertical - Increased Demand for Entrance Control and Access Control Services by 2029
DUBLIN, Feb. 29, 2024 /PRNewswire/ -- The "Global Security Solutions Market by Systems (Video Surveillance, Access Control, Thermal Imaging, Fire Protection, Entrance Control, Intruder Alarm), Services (Security Systems Integration, Remote Monitoring, VSaaS, ACaaS), Vertical - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global security solutions market is expected to be valued at USD 354.7 billion in 2024 and is projected to reach USD 502.1 billion by 2029; it is expected to grow at a CAGR of 7.2% from 2024 to 2029. The proliferation of smart cities and critical infrastructure projects is a key driver for the growth of the security solutions market.
As cities and critical facilities become more connected and technologically advanced, the need for robust security measures becomes paramount. Smart city initiatives often involve the integration of various sensors, surveillance cameras, access control systems, and other security technologies to enhance public safety, manage traffic, and monitor urban environments.
Entrance control system to account for the second highest CAGR for security solutions market
The security solutions market for entrance control systems is experiencing growth due to an increased focus on enhancing access security in various sectors. With rising concerns about unauthorized access and the need for heightened security measures, organizations are investing in advanced entrance control technologies such as turnstiles, biometric access systems, and contactless authentication methods. Additionally, the integration of these systems with smart technologies and the demand for solutions that provide both security and convenience contribute to the expanding market.
Access control services to account for the second highest CAGR for security solutions market
The security solutions market for access control services is witnessing substantial growth as organizations increasingly recognize the critical importance of controlling and securing physical access to their premises. Heightened concerns over unauthorized entry, coupled with the need for compliance with stringent security standards, drive the demand for sophisticated access control systems. The integration of biometrics, smart card technologies, and cloud-based solutions further enhances the capabilities of access control services.
Commercial vertical to account for the second highest CAGR for security solutions market
The security solutions market for the commercial vertical is witnessing substantial growth due to an increasing recognition of securit as a fundamental aspect of business operations. Heightened concerns over physical and cybersecurity threats, coupled with stringent regulatory requirements, are compelling businesses to invest in advanced security systems. The adoption of smart technologies, integration of IoT devices, and the need for seamless security solutions that safeguard assets and ensure operational continuity further contribute to the market expansion in the commercial sector.
North America to account for the second highest CAGR for security solutions market
The security solutions market in the North America region is experiencing notable growth owing to increasing concerns over cybersecurity, a heightened focus on public safety, widespread adoption of smart technologies, and stringent regulatory standards. The escalating frequency and sophistication of cyber threats, coupled with the need for comprehensive security measures, drive organizations to invest in advanced security technologies.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
- Growth Rate Assumptions/Forecast
- Video Surveillance System Segment to Hold Largest Market Share During Forecast Period
- Security System Integration Services to Command Largest Market Share During Forecast Period
- Commercial Segment to Capture Largest Market Share During Forecast Period
- Asia-Pacific Accounted for Largest Share of Security Solutions Market in 2023
4 Premium Insights
4.1 Attractive Opportunities for Players in Security Solutions Market - Increasing Concerns Regarding Public Safety and Rapid Advancements in Technologies to Drive Market
4.2 Asia-Pacific: Security Solutions Market, by Country and by System - China and Video Surveillance System Segments to Hold Largest Share of Security Solutions Market in Asia-Pacific in 2024
4.3 North America: Security Solutions Market, by Country - US to Hold Largest Share of Security Solutions Market in North America During Forecast Period
4.4 Security Solutions Market, by Country - Security Solutions Market in South Korea to Register Highest CAGR from 2024 to 2029
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Concerns Regarding Public Safety and Infrastructure Protection
5.2.1.2 Technological Advancements in Surveillance and Access Control Systems
5.2.1.3 Rising Incidents of Theft, Vandalism, and Unauthorized Access
5.2.1.4 Expansion of Smart Infrastructure and Smart City Projects Globally
5.2.2 Restraints
5.2.2.1 Concerns Over Privacy and Data Protection Regulations
5.2.2.2 Risk of System Vulnerabilities and Exploits
5.2.2.3 Complexity in Integration with Existing Infrastructure
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Remote Monitoring and Surveillance Solutions
5.2.3.2 Growing Adoption of Cloud-based Security Solutions
5.2.3.3 Requirement for Robust Security in Retail and Commercial Sectors
5.2.4 Challenges
5.2.4.1 Risk of Rapid Technological Changes and Obsolescence
5.2.4.2 Complex Regulatory Landscape and Compliance Challenges
5.3 Trends/Disruptions Impacting Customer Business
5.4 Pricing Analysis
5.5 Value Chain Analysis
5.6 Ecosystem/Market Map
5.7 Technology Analysis
5.8 Patent Analysis
5.9 Trade Analysis
5.10 Tariff Analysis
5.11 Key Conferences and Events, 2024-2025
5.12 Case Study Analysis
5.13 Standards and Regulatory Landscape
5.14 Porter's Five Forces Analysis
5.15 Key Stakeholders and Buying Criteria
6 Security Solutions Market, by System
7 Security Solutions Market, by Service
8 Security Solutions Market, by Vertical
9 Security Solutions Market, by Region
10 Competitive Landscape
11 Company Profiles
- Johnson Controls
- Honeywell International Inc.
- Robert Bosch GmbH
- ADT
- Hangzhou Hikvision Digital Technology
- Dahua Technology Co. Ltd.
- Axis Communications Ab
- Secom Co. Ltd.
- Siemens
- Assa Abloy
- Halma PLC
- Hochiki Corporation
- Dormakaba Group
- Teledyne Flir
- Allegion PLC
- Nice S.P.A.
- Godrej Group
- Alarm.Com
- Motorola Solutions, Inc.
- Dallmeier Electronic
- Securitas Technology
- Gunnebo
- Snap One
- Brinks Home
- Verkada Inc.
For more information about this report visit https://www.researchandmarkets.com/r/fhcdjw
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