Security Market Size, Share, Analysis, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Security Market


The global Security market size is projected to reach US$ 183.87 billion by 2026, from US$ 102.67 billion in 2020, at a CAGR of 10.2% during 2021-2026. Increasing illegal events, terrorism, and fraudulent activities coupled with stringent government norms has led to a rise in the adoption of security systems. Additionally, the rising number of smart cities has created the need for security systems.

These systems offer several advantages such as maintaining records for information, monitoring activities in commercial and residential areas, and empowering nations against terrorism and external threats at different locations. These systems have significant adoption rate in military and defense, owing to the increased threat of terrorism and cross-border intrusions.

Factors, such as increasing tension across borders, and growing terrorism, are expected to accelerate the market growth over the forecast period. Manufacturers of security systems use various types of cameras, such as pan, tilt, and zoom cameras, which are connected to internet, to provide access to the information from desired locations through wired or wireless connectivity.

Rapid technological advancements such as use of internet connectivity, has enabled real-time surveillance at remote and critical locations with enhanced accuracy. Furthermore, it has increased the adoption rate of advanced security systems with better product features and improved performance.

The security market is anticipated to grow in the government and law enforcement end use segments due to the increased crime rates. Governments across various nations are undertaking initiatives to reduce the crime rate. For instance, the reduction of manpower involved in performing critical jobs at perilous locations, and replacing them with surveillance systems, is expected to fuel the growth.

Market Segmentation, Outlook & Viewpoint: Global Security Market

System Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

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

Service Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

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

End Use Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Government
  
Military and Defense
  
Transportation
  
Commercial
  
Industrial
  
Others

Key Players, Recent Developments & Regional Insights: Global Security Market

In 2018, the military and defense segment led the market. The increased threat of terrorism and cross border intrusions have impelled the military and defense sector of various nations to implement the best security systems.
Cameras with built-in programmable corrections, built-in image processing, auto-exposure, and programmable exposure with precision are few widely adopted security applications in military and defense end use segment. In addition, law enforcement sites such as lock ups, prisons, and correctional facilities, among others, require a high level of security to prevent criminals from escaping or carrying out malicious activities.

Transportation segment is expected to witness remarkable growth, owing to the increased adoption of security systems in locations such as airports, railway stations, and ports for preventing intrusions and illegal activities. Moreover, the systems also enable monitoring of valuable goods in transit via network cameras installed on mobile devices, which is anticipated to further drive the market growth.

Service Insights

The system integration and consulting segment led the market in 2018, owing to the increasing adoption of advanced systems that are able to gather data on a single platform. Users prefer integration of different solutions/products, owing to easy controls and improved efficiency of the integrated systems. The security system integration and consulting services are used to protect and defend constantly evolving security threats.

The managed security services segment is expected to expand at the highest CAGR over the forecast period. Increasing demand for mobile workforce and mobile devices has enhanced the use of managed security services, globally. In addition, numerous organizations provide security solutions and products offering system integration options to their customers in a single platform which can be easily accessed. Various factors such as rising adoption of Internet of Things (IoT)-based security systems, deployment of wireless technology in security systems, and technological advancements are expected to further drive the growth.

Regional Insights

North America led the market in 2018, attributed to the increased crime rate and intrusion activities in the region. The market is driven by the increasing importance of monitoring systems in various applications due to its benefits of remote access, and optimized power consumption, among others. Increasing number of security breaches, real-time responses to risks and threats, and the emergence of big data is expected to propel the regional market growth.
Asia Pacific is anticipated to witness growth, owing to increased focus of government on infrastructural development and security systems. Several emerging economies, such as China and India, are making huge investments to boost safety related products and to develop innovative systems with advanced technology such as wireless connectivity and high-efficiency cameras, among others. Various threats such as insider attacks, frauds, and Advanced Persistent Threats (APT) are expected to create growth opportunities for the regional market.
Security Market Share Insights

Prominent players dominating the market include Amerister Perimeter Security; FutureNet Security Solutions, LLC; Anixter International, Inc.; TPPG The Perimeter Protection Group AB; Tyco International Plc.; Honeywell International, Inc.; ZABAG Security Engineering GmbH; FLIR Systems, Inc.; Southwest Microwave, Inc.; Axis Communications AB; RBtec Perimeter Security Systems; and Senstar Corporation.
The key players focus on inorganic growth strategies to maintain their position. For instance, in 2016, Senstar acquired Aimetis, a Canada-based company that specialized in advanced video analytics software. Additionally, the company formed a dedicated team of financial and human resources to continue its organic development.

Key Insights Covered: Global Security Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Security industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Security industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Security industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Security industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Security industry.

Research Methodology: Global Security Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other