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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

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    Report

  • 271 Pages
  • January 2024
  • Region: Global
  • Markets and Markets
  • ID: 4876921
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 security 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.

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
  • By Company Type: Tier 1 - 10%, Tier 2 - 55%, and Tier 3 - 35%
  • By Designation: C-level Executives - 45%, Managers - 25%, and Others - 30%
  • By Region: North America - 55%, Europe - 20%, Asia Pacific - 15%, RoW - 10%
The key players operating in the Security solutions market are Johnson Controls (Ireland), Honeywell International Inc. (US), Robert Bosch GmbH (Germany), ADT (US), Hangzhou Hikvision Digital Technology Co., Ltd. (China).

Research Coverage

The research report categorizes the Security solutions Market, By System (Fire Protection System, Video Surveillance System, Access Control System, Entrance Control System, Intruder Alarm System, Thermal Imaging System) Services (Fire Protection Services, Video Surveillance Services, Access Control Services, Security System Integration, Remote Monitoring Services), Vertical (Commercial, Residential, Retail, Transportation, Government, Education, Energy and Utilities, Banking and Finance, Industrial, Healthcare, Sports and Leisure, Military & Defense), Region (North America, Europe, Asia Pacific, and RoW).

Key Benefits of Buying the Report

  • Analysis of key drivers (Increasing concerns regarding public safety and infrastructure protection, Technological advancements in surveillance and access control systems, Rising incidence of theft, vandalism, and unauthorized access, Expansion of smart infrastructure and smart city projects globally), restraints (Concerns over privacy and data protection regulations, Risk of system vulnerabilities and exploits, Complexity in integration with existing infrastructure), opportunities (Increasing demand for remote monitoring and surveillance solutions, Growing adoption of cloud-based security solutions, Expansion of retail and commercial sector security requirements), and challenges (Risk of rapid technological changes and obsolescence, Complex regulatory landscape and compliance challenges) influencing the growth of the security solutions market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the security solutions market
  • Market Development: Comprehensive information about lucrative markets - the report analyses the security solutions market across varied regions.
  • Market Diversification: Exhaustive information about new services, untapped geographies, recent developments, and investments in the security solutions market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Johnson Controls (Ireland), Honeywell International Inc. (US), Robert Bosch GmbH (Germany), ADT (US), Hangzhou Hikvision Digital Technology Co., Ltd. (China) among others in the Security solutions market

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Market Segmentation
1.3.2 Regional Scope
1.3.3 Years Considered
1.4 Currency Considered
1.5 Stakeholders
1.6 Summary of Changes
1.7 Recession Impact on Security Solutions Market
2 Research Methodology
2.1 Research Data
Figure 2 Security Solutions Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Major Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews with Experts
2.1.2.2 Key Data from Primary Sources
2.1.2.3 Key Industry Insights
2.1.2.4 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.2 Market Size Estimation
Figure 3 Flow of Market Size Estimation Process
2.2.1 Bottom-Up Approach
Figure 4 Market Size Estimation Methodology (Supply Side): Revenue Generated from Sales of Security Solutions
2.2.1.1 Approach to Arrive at Market Size Using Bottom-Up Analysis
Figure 5 Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach to Arrive at Market Size Using Top-Down Analysis (Supply Side)
Figure 6 Top-Down Approach
2.3 Data Triangulation
Figure 7 Data Triangulation
2.4 Research Assumptions
2.5 Risk Assessment
Table 1 Risk Factor Analysis
2.6 Assumptions Considered to Analyze Recession Impact
Table 2 Assumptions Considered to Analyze Recession Impact
2.7 Study Limitations
3 Executive Summary
3.1 Growth Rate Assumptions/Forecast
Figure 8 Video Surveillance System Segment to Hold Largest Market Share During Forecast Period
Figure 9 Security System Integration Services to Command Largest Market Share During Forecast Period
Figure 10 Commercial Segment to Capture Largest Market Share During Forecast Period
Figure 11 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
Figure 12 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
Figure 13 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
Figure 14 US to Hold Largest Share of Security Solutions Market in North America During Forecast Period
4.4 Security Solutions Market, by Country
Figure 15 Security Solutions Market in South Korea to Register Highest CAGR from 2024 to 2029
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 16 Security Solutions Market: Drivers, Restraints, Opportunities, and Challenges
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
Figure 17 Impact Analysis of Drivers on Security Solutions Market
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
Figure 18 Impact Analysis of Restraints on Security Solutions Market
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
Figure 19 Impact Analysis of Opportunities on Security Solutions Market
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
Figure 20 Impact Analysis of Challenges on Security Solutions Market
5.3 Trends/Disruptions Impacting Customer Business
Figure 21 Trends/Disruptions Impacting Customer Business
5.4 Pricing Analysis
Figure 22 Average Selling Price (ASP) Trend of Access Control Systems Offered by Key Players, by Vertical
Table 3 ASP Trend of Various Security Solutions, by Region (USD)
Table 4 Selling Price of Video Surveillance Systems Offered by Leading Companies
5.5 Value Chain Analysis
Figure 23 Security Solutions Market: Value Chain Analysis
5.6 Ecosystem/Market Map
Figure 24 Key Players in Security Solutions Market
Table 5 Security Solutions Market: Role of Companies in Ecosystem
5.7 Technology Analysis
5.7.1 Key Technologies
5.7.1.1 Video Surveillance
5.7.1.2 Biometrics
5.7.1.3 Machine Learning (ML) and Artificial Intelligence (AI)
5.7.1.4 Wireless Technologies
5.7.2 Complementary Technologies
5.7.2.1 Integrated Security Management Systems
5.7.2.2 Physical and Cyber Convergence
5.7.2.3 Geographic Information Systems (Gis) Integration
5.7.2.4 Incident Response Platforms
5.7.3 Adjacent Technologies
5.7.3.1 IoT Security
5.7.3.2 Edge Computing Security
5.7.3.3 Behavioral Analytics
5.8 Patent Analysis
Figure 25 Security Solutions Market: Patents Applied and Granted, 2013-2023
Table 6 List of Key Patents in Security Solutions Market, 2020-2023
5.9 Trade Analysis
Table 7 Import Data for Products Covered Under HS Code 8531, by Country, 2018-2022 (USD Million)
Figure 26 Import Data, by Country, 2018-2022 (USD Million)
Table 8 Export Data for Products Covered Under HS Code 8531, by Country, 2018-2022 (USD Million)
Figure 27 Export Data, by Country, 2018-2022 (USD Million)
5.10 Tariff Analysis
Table 9 Mfn Tariffs for HS Code 8531-Compliant Products Exported by US
Table 10 Mfn Tariffs for HS Code 8531-Compliant Products Exported by China
Table 11 Mfn Tariff for HS Code 8531-Compliant Products Exported by Germany
5.11 Key Conferences and Events, 2024-2025
Table 12 Security Solutions Market: Detailed List of Conferences and Events
5.12 Case Study Analysis
Table 13 Johnson Controls Provided Comprehensive Security Solution for King Abdulaziz International Airport
Table 14 Honeywell Deployed Fire Protection Systems and Access Control Solutions at Dubai Mall
Table 15 Bosch Security Systems Provided Video Surveillance and Intrusion Detection Solutions for Mercedes-Benz Stadium
Table 16 Axis Communications Ab Deployed High-Definition Video Surveillance Systems at the Shard, Iconic Skyscraper in London
Table 17 Adt Deployed Intrusion Detection and Alarm Systems Across Walmart Stores
5.13 Standards and Regulatory Landscape
5.13.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 18 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 19 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 20 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 21 Rest of the World: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.13.2 Standards and Regulations Related to Security Solutions Market
5.13.2.1 Iso 27001 - Information Security Management
5.13.2.2 Ul 2900 - Standard for Software Cybersecurity for Network-Connectable Products
5.13.2.3 En 50130 Series - Alarm Systems
5.13.2.4 Bs En 50131 Series - Alarm Systems
5.13.2.5 Iec 62676
5.13.3 Government Regulations
5.13.3.1 US
5.13.3.2 Canada
5.13.3.3 Europe
5.13.3.4 UK
5.13.3.5 Japan
5.13.3.6 India
5.14 Porter's Five Forces Analysis
Table 22 Impact of Porter's Five Forces on Security Solutions Market
Figure 28 Security Solutions Market: Porter's Five Forces Analysis
5.14.1 Threat of New Entrants
5.14.2 Threat of Substitutes
5.14.3 Bargaining Power of Suppliers
5.14.4 Bargaining Power of Buyers
5.14.5 Intensity of Competitive Rivalry
5.15 Key Stakeholders and Buying Criteria
5.15.1 Key Stakeholders in Buying Process
Figure 29 Influence of Stakeholders on Buying Process for Top 3 Verticals
Table 23 Influence of Stakeholders on Buying Process for Top 3 Verticals (%)
5.15.2 Buying Criteria
Figure 30 Key Buying Criteria for Top 3 Verticals
Table 24 Key Buying Criteria for Top 3 Verticals
6 Security Solutions Market, by System
6.1 Introduction
Figure 31 Video Surveillance System to Register Highest CAGR in Security Solutions Market During Forecast Period
Table 25 Security Solutions Market, by System, 2020-2023 (USD Billion)
Table 26 Security Solutions Market, by System, 2024-2029 (USD Billion)
6.2 Fire Protection System
Table 27 Fire Protection System: Security Solutions Market, by Type, 2020-2023 (USD Billion)
Table 28 Fire Protection System: Security Solutions Market, by Type, 2024-2029 (USD Billion)
Table 29 Fire Protection System: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 30 Fire Protection System: Security Solutions Market, by Region, 2024-2029 (USD Billion)
6.2.1 Fire Suppression
6.2.1.1 Need for Defense Mechanism Against Evolving Fire Scenarios to Boost Demand for Fire Suppression Systems
6.2.2 Fire Sprinklers
6.2.2.1 Rising Awareness of Efficacy of Fire Sprinkler Systems in Preventing Fire-Related Risks to Drive Segment
6.2.3 Fire Detection
6.2.3.1 Regulations Mandating Installation of Fire Detection Systems in Commercial and Industrial Settings to Drive Segment
6.2.4 Fire Analytics
6.2.4.1 Ability to Provide Actionable Insights and Enhance Situational Awareness to Boost Demand for Fire Analytics
6.2.5 Fire Response
6.2.5.1 Need for Comprehensive Emergency Management to Induce Demand for Fire Response Systems
6.3 Video Surveillance System
Table 31 Video Surveillance System: Security Solutions Market, by Type, 2020-2023 (USD Billion)
Table 32 Video Surveillance System: Security Solutions Market, by Type, 2024-2029 (USD Billion)
Table 33 Video Surveillance System: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 34 Video Surveillance System: Security Solutions Market, by Region, 2024-2029 (USD Billion)
6.3.1 Cameras
6.3.1.1 Advancements in Imaging Technologies to Propel Demand for Cameras in Video Surveillance Systems
6.3.2 Monitors
6.3.2.1 Ability to Enhance Situational Awareness and Stakeholder Collaboration to Boost Demand for Monitors
6.3.3 Storage Devices
6.3.3.1 Need for Secure Data Sharing and Decentralized Storage Management to Drive Segmental Landscape
6.3.4 Accessories
6.3.4.1 Need to Enhance Functionality and Performance of Interconnected Devices to Boost Demand for Accessories
6.3.5 Software
6.3.5.1 Need to Optimize Functionalities of Interconnected Video Surveillance Devices to Boost Demand for Software
6.4 Access Control System
Table 35 Access Control System: Security Solutions Market, by Type, 2020-2023 (USD Billion)
Table 36 Access Control System: Security Solutions Market, by Type, 2024-2029 (USD Billion)
Table 37 Access Control System: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 38 Access Control System: Security Solutions Market, by Region, 2024-2029 (USD Billion)
6.4.1 Card-based Readers
6.4.1.1 Demand for Secure Access Control and User-Friendly Experiences to Propel Adoption of Card-based Readers
6.4.2 Biometric Readers
6.4.2.1 Ability to Identify and Authenticate Individuals-based on Unique Physiological or Behavioral Traits to Drive Segment
6.4.3 Multi-Technology Readers
6.4.3.1 Ability to Support Multiple Authentication Methods to Drive Demand for Multi-Technology Readers
6.4.4 Electronic Locks
6.4.4.1 Enhanced Security Features and Flexibility in Managing Access Rights and Permissions to Foster Segmental Growth
6.4.5 Access Controllers
6.4.5.1 Need for Enhanced Security Across Diverse Security Environments to Boost Demand for Access Controllers
6.4.6 Software
6.4.6.1 Integration of Advanced Technologies with Access Control Software to Drive Segment
6.4.7 Others
6.5 Entrance Control System
6.5.1 Need to Mitigate Risks and Prevent Unauthorized Access to Drive Segment
Table 39 Entrance Control System: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 40 Entrance Control System: Security Solutions Market, by Region, 2024-2029 (USD Billion)
6.6 Intruder Alarm System
6.6.1 Rising Awareness of Safety to Increase Deployment of Intruder Alarm Systems
Table 41 Intruder Alarm System: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 42 Intruder Alarm System: Security Solutions Market, by Region, 2024-2029 (USD Billion)
6.7 Thermal Imaging System
6.7.1 Growing Adoption of Thermal Imaging Technology in Low-Light Conditions to Accelerate Market Growth
Table 43 Thermal Imaging System: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 44 Thermal Imaging System: Security Solutions Market, by Region, 2024-2029 (USD Billion)
6.7.2 Thermal Cameras
6.7.3 Thermal Scopes
6.7.4 Thermal Modules
7 Security Solutions Market, by Service
7.1 Introduction
Figure 32 Security System Integration Services Segment to Hold Largest Share of Security Solutions Market During Forecast Period
Table 45 Security Solutions Market, by Service, 2020-2023 (USD Billion)
Table 46 Security Solutions Market, by Service, 2024-2029 (USD Billion)
7.2 Fire Protection Services
Table 47 Fire Protection Services: Security Solutions Market, by Type, 2020-2023 (USD Billion)
Table 48 Fire Protection Services: Security Solutions Market, by Type, 2024-2029 (USD Billion)
Table 49 Fire Protection Services: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 50 Fire Protection Services: Security Solutions Market, by Region, 2024-2029 (USD Billion)
7.2.1 Maintenance Services
7.2.1.1 Need to Ensure Performance, Reliability, and Compliance of Fire Protection Systems to Boost Demand for Maintenance Services
7.2.2 Managed Services
7.2.2.1 Increasing Focus of Organizations on Safety, Compliance, and Operational Continuity to Propel Requirement for Managed Services
7.2.3 Installation and Design Services
7.2.3.1 Need for Specialized Installation and Design Expertise and Tailored Fire Protection Solutions to Drive Segmental Growth
7.2.4 Engineering Services
7.2.4.1 Focus on Enhancing Effectiveness, Reliability, and Scalability of Fire Protection Measures to Drive Segment
7.2.5 Other Services
7.3 Video Surveillance Services
Table 51 Video Surveillance Services: Security Solutions Market, by Type, 2020-2023 (USD Billion)
Table 52 Video Surveillance Services: Security Solutions Market, by Type, 2024-2029 (USD Billion)
Table 53 Video Surveillance Services: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 54 Video Surveillance Services: Security Solutions Market, by Region, 2024-2029 (USD Billion)
7.3.1 Video Surveillance as a Service (Vsaas)
7.3.1.1 Increasing Demand for Cloud-based Video Surveillance Solutions to Drive Segment
7.3.2 Installation and Maintenance
7.3.2.1 Need to Ensure Optimal Performance of Video Surveillance Systems to Drive Segmental Landscape
7.4 Access Control Services
Table 55 Access Control Services: Security Solutions Market, by Type, 2020-2023 (USD Billion)
Table 56 Access Control Services: Security Solutions Market, by Type, 2024-2029 (USD Billion)
Table 57 Access Control Services: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 58 Access Control Services: Security Solutions Market, by Region, 2024-2029 (USD Billion)
7.4.1 Installation and Integration
7.4.1.1 Need to Seamlessly Integrate Access Control Systems Within Existing Infrastructures to Drive Segment
7.4.2 Support and Maintenance
7.4.2.1 Growing Demand for Proactive, Responsive, and Reliable Support and Maintenance Services to Boost Segmental Growth
7.5 Security System Integration Services
7.5.1 Need to Consolidate Security Operations and Centralize Management Functions to Propel Segment
Table 59 Security System Integration Services: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 60 Security System Integration Services: Security Solutions Market, by Region, 2024-2029 (USD Billion)
7.6 Remote Monitoring Services
7.6.1 Focus on Timely Identification and Mitigation of Security Risks to Increase Demand for Remote Monitoring Services
Table 61 Remote Monitoring Services: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 62 Remote Monitoring Services: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8 Security Solutions Market, by Vertical
8.1 Introduction
Figure 33 Residential Segment to Record Highest Growth in Security Solutions Market from 2024 to 2029
Table 63 Security Solutions Market, by Vertical, 2020-2023 (USD Billion)
Table 64 Security Solutions Market, by Vertical, 2024-2029 (USD Billion)
8.2 Residential
8.2.1 Rising Awareness About Criminal Activities, Theft, and Security Among Homeowners to Drive Market
Table 65 Residential: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 66 Residential: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.3 Commercial
8.3.1 Increasing Demand for Commercial Asset Protection to Accelerate Market Growth
Table 67 Commercial: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 68 Commercial: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.4 Government
8.4.1 Surge in Demand for Access Control Systems Among Government Organizations to Drive Market
Table 69 Government: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 70 Government: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.5 Transportation
8.5.1 Growing Investments in Surveillance for Monitoring and Securing Transportation Networks to Drive Market
Table 71 Transportation: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 72 Transportation: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.6 Retail
8.6.1 Rising Incidents of Shoplifting and Internal Theft in Retail Vertical to Prompt Adoption of Security Solutions
Table 73 Retail: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 74 Retail: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.7 Banking and Finance
8.7.1 Need to Curb Thefts and Robbery in Banking Vertical to Drive Demand for Security Solutions
Table 75 Banking and Finance: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 76 Banking and Finance: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.8 Education
8.8.1 Need to Mitigate Threats in Education Sector to Accelerate Adoption of Security Solutions
Table 77 Education: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 78 Education: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.9 Industrial
8.9.1 Need for Real-Time Monitoring and Operational Efficiency in Industrial Sector to Drive Market
Table 79 Industrial: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 80 Industrial: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.10 Energy and Utilities
8.10.1 Critical Nature of Operations and Potential Risks Involved to Necessitate Adoption of Security Solutions
Table 81 Energy and Utilities: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 82 Energy and Utilities: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.11 Sports and Leisure
8.11.1 Surge in High-Profile Sporting Events to Necessitate Adoption of Robust Security Solutions
Table 83 Sports and Leisure: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 84 Sports and Leisure: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.12 Healthcare
8.12.1 Vulnerability to Data Breaches due to Digitalization to Propel Adoption of Security Solutions in Healthcare
Table 85 Healthcare: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 86 Healthcare: Security Solutions Market, by Region, 2024-2029 (USD Billion)
8.13 Military and Defense
8.13.1 Increasing Smuggling and Infiltration of Terrorists and Illegal Immigrants to Drive Market
Table 87 Military and Defense: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 88 Military and Defense: Security Solutions Market, by Region, 2024-2029 (USD Billion)
9 Security Solutions Market, by Region
9.1 Introduction
Figure 34 Security Solutions Market in Asia-Pacific to Register Highest CAGR During Forecast Period
Table 89 Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 90 Security Solutions Market, by Region, 2024-2029 (USD Billion)
9.2 North America
Figure 35 North America: Security Solutions Market Snapshot
9.2.1 North America: Recession Impact
Table 91 North America: Security Solutions Market, by Country, 2020-2023 (USD Billion)
Table 92 North America: Security Solutions Market, by Country, 2024-2029 (USD Billion)
Table 93 North America: Security Solutions Market, by System, 2020-2023 (USD Billion)
Table 94 North America: Security Solutions Market, by System, 2024-2029 (USD Billion)
Table 95 North America: Security Solutions Market, by Service, 2020-2023 (USD Billion)
Table 96 North America: Security Solutions Market, by Service, 2024-2029 (USD Billion)
Table 97 North America: Security Solutions Market, by Vertical, 2020-2023 (USD Billion)
Table 98 North America: Security Solutions Market, by Vertical, 2024-2029 (USD Billion)
9.2.2 US
9.2.2.1 Increased Government Efforts to Enhance Security at Public Places to Drive Market
9.2.3 Canada
9.2.3.1 Increasing Government Funding for Deployment of Security and Surveillance Systems to Boost Market Growth
9.2.4 Mexico
9.2.4.1 Need to Curb Illegal Activities and Drug Trafficking to Boost Demand for Security Solutions
9.3 Europe
Figure 36 Europe: Security Solutions Market Snapshot
9.3.1 Europe: Recession Impact
Table 99 Europe: Security Solutions Market, by Country, 2020-2023 (USD Billion)
Table 100 Europe: Security Solutions Market, by Country, 2024-2029 (USD Billion)
Table 101 Europe: Security Solutions Market, by System, 2020-2023 (USD Billion)
Table 102 Europe: Security Solutions Market, by System, 2024-2029 (USD Billion)
Table 103 Europe: Security Solutions Market, by Service 2020-2023 (USD Billion)
Table 104 Europe: Security Solutions Market, by Service, 2024-2029 (USD Billion)
Table 105 Europe: Security Solutions Market, by Vertical, 2020-2023 (USD Billion)
Table 106 Europe: Security Solutions Market, by Vertical, 2024-2029 (USD Billion)
9.3.2 UK
9.3.2.1 Increasing Adoption of Intelligent Security Systems to Provide Opportunities for Market Players
9.3.3 Germany
9.3.3.1 Growing Investments in Development of Manufacturing Facilities to Drive Market
9.3.4 France
9.3.4.1 Integration of Smart Technologies Across Various Sectors to Propel Requirement for Security Solutions
9.3.5 Rest of Europe
9.4 Asia-Pacific
Figure 37 Asia-Pacific: Security Solutions Market Snapshot
9.4.1 Asia-Pacific: Recession Impact
Table 107 Asia-Pacific: Security Solutions Market, by Country, 2020-2023 (USD Billion)
Table 108 Asia-Pacific: Security Solutions Market, by Country, 2024-2029 (USD Billion)
Table 109 Asia-Pacific: Security Solutions Market, by System, 2020-2023 (USD Billion)
Table 110 Asia-Pacific: Security Solutions Market, by System, 2024-2029 (USD Billion)
Table 111 Asia-Pacific: Security Solutions Market, by Service, 2020-2023 (USD Billion)
Table 112 Asia-Pacific: Security Solutions Market, by Service, 2024-2029 (USD Billion)
Table 113 Asia-Pacific: Security Solutions Market, by Vertical, 2020-2023 (USD Billion)
Table 114 Asia-Pacific: Security Solutions Market, by Vertical, 2024-2029 (USD Billion)
9.4.2 China
9.4.2.1 Initiation of Various Smart City Projects to Propel Adoption of Security Solutions
9.4.3 Japan
9.4.3.1 Growing Investments from Government and Private Entities in Smart Infrastructure Development to Accelerate Market Growth
9.4.4 South Korea
9.4.4.1 Rising Security Concerns to Provide Opportunities for Market Players
9.4.5 India
9.4.5.1 Rise in Public Infrastructure Projects to Augment Market Growth
9.4.6 Rest of Asia-Pacific
9.5 Rest of the World (RoW)
9.5.1 RoW: Recession Impact
Table 115 RoW: Security Solutions Market, by Region, 2020-2023 (USD Billion)
Table 116 RoW: Security Solutions Market, by Region, 2024-2029 (USD Billion)
Table 117 RoW: Security Solutions Market, by System, 2020-2023 (USD Billion)
Table 118 RoW: Security Solutions Market, by System, 2024-2029 (USD Billion)
Table 119 RoW: Security Solutions Market, by Service, 2020-2023 (USD Billion)
Table 120 RoW: Security Solutions Market, by Service, 2024-2029 (USD Billion)
Table 121 RoW: Security Solutions Market, by Vertical, 2020-2023 (USD Billion)
Table 122 RoW: Security Solutions Market, by Vertical, 2024-2029 (USD Billion)
9.5.2 Middle East & Africa
9.5.2.1 Growing Adoption of Security Measures due to Rapid Urbanization to Drive Market
9.5.3 South America
9.5.3.1 Rise in Crime Rates and Theft Incidents to Drive Market
10 Competitive Landscape
10.1 Introduction
10.2 Strategies Adopted by Key Players
Table 123 Overview of Strategies Adopted by Companies in Security Solutions Market
10.3 Market Share Analysis, 2023
Figure 38 Security Solutions Market: Industry Concentration, 2023
Table 124 Security Solutions Market: Degree of Competition, 2023
10.3.1 Key Players in Security Solutions Market, 2023
10.4 Revenue Analysis of Key Players in Security Solutions Market
Figure 39 5-Year Revenue Analysis of Key Players in Security Solutions Market
10.5 Company Evaluation Matrix: Key Players
Figure 40 Security Solutions Market (Global): Company Evaluation Matrix (Key Players), 2023
10.5.1 Stars
10.5.2 Emerging Leaders
10.5.3 Pervasive Players
10.5.4 Participants
10.5.5 Company Product Footprint
Table 125 Company Product Footprint
Table 126 Company System Footprint
Table 127 Company Service Footprint
Table 128 Company Vertical Footprint
Table 129 Company Region Footprint
10.6 Company Evaluation Matrix: Startups/SMEs
10.6.1 Progressive Companies
10.6.2 Responsive Companies
10.6.3 Dynamic Companies
10.6.4 Starting Blocks
Figure 41 Security Solutions Market: Evaluation Matrix (Startups/SMEs), 2023
10.6.5 Competitive Benchmarking
Table 130 Security Solutions Market: Key Startups/SMEs
Table 131 Startups/SMEs Product Footprint
Table 132 Startups/SMEs System Footprint
Table 133 Startups/SMEs Service Footprint
Table 134 Startups/SMEs Vertical Footprint
Table 135 Startups/SMEs Region Footprint
10.7 Competitive Scenarios and Trends
Table 136 Security Solutions Market: Product Launches/Developments, September 2020 to December 2023
Table 137 Security Solutions Market: Deals, February 2021 to December 2023
11 Company Profiles
11.1 Key Players
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)*
11.1.1 Johnson Controls
Table 138 Johnson Controls: Company Overview
Figure 42 Johnson Controls: Company Snapshot
Table 139 Johnson Controls: Products/Services/Solutions Offered
Table 140 Johnson Controls: Product Launches
Table 141 Johnson Controls: Deals
11.1.2 Honeywell International Inc.
Table 142 Honeywell International Inc.: Company Overview
Figure 43 Honeywell International Inc.: Company Snapshot
Table 143 Honeywell International Inc.: Products/Services/Solutions Offered
Table 144 Honeywell International Inc.: Product Launches
Table 145 Honeywell International Inc.: Deals
11.1.3 Robert Bosch GmbH
Table 146 Robert Bosch GmbH: Company Overview
Figure 44 Robert Bosch GmbH: Company Snapshot
Table 147 Robert Bosch GmbH: Products/Services/Solutions Offered
Table 148 Robert Bosch GmbH: Product Launches
Table 149 Robert Bosch GmbH: Deals
11.1.4 Adt
Table 150 Adt: Company Overview
Figure 45 Adt: Company Snapshot
Table 151 Adt: Products/Services/Solutions Offered
Table 152 Adt: Product Launches
Table 153 Adt: Deals
11.1.5 Hangzhou Hikvision Digital Technology Co. Ltd.
Table 154 Hangzhou Hikvision Digital Technology Co. Ltd.: Company Overview
Figure 46 Hangzhou Hikvision Digital Technology Co. Ltd.: Company Snapshot
Table 155 Hangzhou Hikvision Digital Technology Co. Ltd.: Products/Services/Solutions Offered
Table 156 Hangzhou Hikvision Digital Technology Co. Ltd.: Product Launches
Table 157 Hangzhou Hikvision Digital Technology Co. Ltd.: Deals
11.1.6 Dahua Technology Co. Ltd.
Table 158 Dahua Technology Co. Ltd.: Company Overview
Figure 47 Dahua Technology Co. Ltd.: Company Snapshot
Table 159 Dahua Technology Co. Ltd.: Products/Services/Solutions Offered
Table 160 Dahua Technology Co. Ltd.: Product Launches
11.1.7 Axis Communications Ab
Table 161 Axis Communications Ab: Company Overview
Table 162 Axis Communications Ab: Products/Services/Solutions Offered
Table 163 Axis Communications Ab: Product Launches
Table 164 Axis Communications Ab: Deals
11.1.8 Secom Co. Ltd.
Table 165 Secom Co. Ltd.: Company Overview
Figure 48 Secom Co. Ltd.: Company Snapshot
Table 166 Secom Co. Ltd.: Products/Services/Solutions Offered
Table 167 Secom Co. Ltd.: Product Launches
11.1.9 Siemens
Table 168 Siemens: Company Overview
Figure 49 Siemens: Company Snapshot
Table 169 Siemens: Products/Services/Solutions Offered
11.1.10 Assa Abloy
Table 170 Assa Abloy: Company Overview
Figure 50 Assa Abloy: Company Snapshot
Table 171 Assa Abloy: Products/Services/Solutions Offered
11.2 Other Players
11.2.1 Halma PLC
Table 172 Halma PLC: Company Overview
11.2.2 Hochiki Corporation
Table 173 Hochiki Corporation: Company Overview
11.2.3 Dormakaba Group
Table 174 Dormakaba Group: Company Overview
11.2.4 Teledyne Flir LLC
Table 175 Teledyne Flir LLC: Company Overview
11.2.5 Allegion PLC
Table 176 Allegion PLC: Company Overview
11.2.6 Nice S.P.A.
Table 177 Nice S.P.A.: Company Overview
11.2.7 Godrej Group
Table 178 Godrej Group: Company Overview
11.2.8 Alarm.Com
Table 179 Alarm.Com: Company Overview
11.2.9 Motorola Solutions, Inc.
Table 180 Motorola Solutions, Inc.: Company Overview
11.2.10 Dallmeier Electronic
Table 181 Dallmeier Electronic: Company Overview
11.2.11 Securitas Technology
Table 182 Securitas Technology: Company Overview
11.2.12 Gunnebo Ab
Table 183 Gunnebo Ab: Company Overview
11.2.13 Snap One, LLC
Table 184 Snap One, LLC: Company Overview
11.2.14 Brinks Home
Table 185 Brinks Home: Company Overview
11.2.15 Verkada Inc.
Table 186 Verkada Inc.: Company Overview
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies
12 Appendix
12.1 Discussion Guide
12.2 Knowledgestore: The Subscription Portal
12.3 Customization Options

Companies Mentioned

  • Johnson Controls
  • Honeywell International Inc.
  • Robert Bosch GmbH
  • Adt
  • Hangzhou Hikvision Digital Technology Co. Ltd.
  • Dahua Technology Co. Ltd.
  • Axis Communications Ab
  • Secom Co. Ltd.
  • Siemens
  • Assa Abloy
  • Halma PLC
  • Hochiki Corporation
  • Dormakaba Group
  • Teledyne Flir LLC
  • Allegion PLC
  • Nice S.P.A.
  • Godrej Group
  • Alarm.Com
  • Motorola Solutions, Inc.
  • Dallmeier Electronic
  • Securitas Technology
  • Gunnebo Ab
  • Snap One, LLC
  • Brinks Home
  • Verkada Inc.

Methodology

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