Commercial Security System Market by Hardware (Fire Protection, Video Surveillance, Access Control, Entrance Control), Software (Fire Analysis, Video Surveillance, Access Control), Services, Vertical and Region - Global Forecast to 2028

The commercial security system market is projected to reach USD 343.7 billion by 2028 from USD 236.3 billion in 2023, at a CAGR of 7.8% from 2023 to 2028. 

Fire sprinkler is expected to grow at the highest growth rate in fire protection system market during the forecast period

A fire sprinkler system is a crucial component of fire protection in buildings and facilities. It consists of a network of pipes, sprinkler heads, valves, and a water supply source. The primary function of a fire sprinkler system is to detect and control fires by discharging water onto the affected area, suppressing or extinguishing the flames. The system is designed to respond automatically to the presence of heat from a fire. Each sprinkler head is equipped with a heat-sensitive element, typically a glass bulb or a fusible link, that holds back the water until it reaches a certain temperature. When the ambient temperature rises due to a fire, the heat-sensitive element is activated, allowing the water to flow through the sprinkler head and onto the fire below. The sprinkler heads are strategically placed throughout the building to provide comprehensive coverage. They are typically positioned on the ceilings or walls, spaced according to specific design guidelines. The water is supplied to the sprinkler system through a network of pipes that are connected to a reliable water source, such as a municipal water supply or an on-site water storage tank.

Video Surveillance services are expected to grow at the highest CAGR during the forecast period

Installation and maintenance services are expected to be driven by the rise in sales of video surveillance hardware. VSaaS adds unprecedented flexibility to the video surveillance system. Since surveillance footage is stored off-site, it is better protected from accidents, theft, and tampering. VSaaS systems only require on-site cameras, offering the most cost-effective solutions to end users. Hence, the VSaaS market is expected to witness rapid growth.

As VSaaS is managed in the cloud, the operator can access the footage or cameras from anywhere, at any time through a desktop, laptop, or mobile device. Cloud services are designed to provide scalable and easy access to applications or resources. Cloud services include storage backup, hosted office suite, and database processing. VSaaS finds applications in government, city surveillance and infrastructure, banking, retail, transportation, education, and residential sectors. It is segmented into hosted, managed, and hybrid services.

The break-up of profile of primary participants in the Commercial security system market-

• By Company Type: Tier 1 - 30%, Tier 2 - 50%, Tier 3 - 20%
• By Designation Type: C Level - 25%, Director Level - 35% , Others - 40%
• By Region Type: Asia Pacific - 25%, North America - 35%, Europe - 30%, Asia Pacific - 25%, and RoW - 10%

The major players of Commercial security system market are Johnson Controls (US), Hangzhou Hikvision Digital Technology Co., Ltd (China), Carrier (US), Honeywell International Inc. (US), Robert Bosch GmbH (Bosch Sicherheitssysteme GmbH) (Germany), Dahua Technology Inc. (China), dormakaba Group s(Switzerland), ADT (US), Axis Communication AB. (Sweden), SECOM. CO. LTD, (Japan), ASSA ABLOY(Sweden), Siemens (Germany), Halma plc (US), Hochiki Corporation (Japan), Teledyne FLIR LLC(US), Allegion plc (Ireland), Nice S.p.A. (US), Alarm.com (Canada), Motorola Solutions, Inc. (Avigilon)(Canada), Dallmeier electronic (Germany), Securitas Technology (Canada), Gunnebo AB     (Sweden), Control4 (US), Viking Group Inc. (US), Norden (UK), Vivint Inc (US).

Research Coverage

The report segments the commercial security system market and forecasts its size based on hardware, software, services, vertical, and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing the market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.

Reasons to buy the report:

The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall commercial security system market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

• Analysis of key drivers (the growing global rate of terrorism and organized crime), restraints (major privacy and security concerns), opportunities (rise in government and stakeholder funding for smart city development and city surveillance solutions), and challenges (cyber threats to commercial security systems poses significant risks) influencing the growth of the commercial security system market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the commercial security system market 
• Market Development: Comprehensive information about lucrative markets - the report analyses the commercial security system market across varied regions 
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Commercial security system market 
• Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players like Johnson Controls (US), Hangzhou Hikvision Digital Technology Co., Ltd (China), Carrier (US), Honeywell International Inc. (US), and Robert Bosch GmbH (Bosch Sicherheitssysteme GmbH) (Germany).