Factors such as rising awareness regarding the benefits of integrated security services and the cost efficiency of integrated security solutions are major growth factors for the market. In addition, the growing demand for integration platforms as a service (iPaaS) and solutions is the major growth factor for the integrated security services market. However, the need for the implementation of supporting technology while deploying integrated security services is the major factor hampering the growth of the market. On the contrary, an increase in service innovations embedded with emerging technologies will provide lucrative opportunities for the growth of the market in the upcoming years.
The integrated security services market is segmented on the basis of service type, connectivity, enterprise size, industry vertical, and region. By service type, it is segmented into network design, network deployment, and network assessment. By connectivity, the market is divided into wired, and wireless. By enterprise size, it is bifurcated into large enterprise, and small and medium enterprise. By industry vertical, it is segmented into BFSI, IT & telecom, healthcare, manufacturing, education, media & entertainment, government, and others. By region, it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The report analyzes the profiles of key players operating in the integrated security services market such as Broadcom, CGI Inc., Cisco Systems, Inc., DynTek, Inc., Honeywell International Inc., IBM Corporation, Microsoft, Optiv Security Inc., Sophos Ltd., and Trend Micro Incorporated. These players have adopted various strategies to increase their market penetration and strengthen their position in the integrated security services market.
Key Benefits For Stakeholders
- The study provides in-depth analysis of the global integrated security services market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global integrated security services market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global integrated security services market from 2022 to 2031 is provided to determine the market potential.
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Key Market Segments
By Type
- Compliance Management
- Identity and Access Management
- Theft Management
- Others
By Deployment Mode
- On-Premise
- Cloud
By Enterprise Size
- Large Enterprise
- Small and Medium Enterprise
By Industry Vertical
- BFSI
- Healthcare
- IT and Telecom
- Retail
- Energy and Utilities
- Manufacturing
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- IBM Corporation
- Optiv Security Inc.
- DynTek, Inc.
- Trend Micro Incorporated
- Broadcom
- CGI Inc.
- Cisco Systems, Inc.
- Microsoft
- Honeywell International Inc.
- Sophos Ltd.
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Table of Contents
Executive Summary
According to the report, the integrated security services market was valued at $15.8 billion in 2021, and is estimated to reach $55.5 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031.The Integrated Security Services is likely to experience a significant growth rate of 13.7% from 2022-2031 owing to increasing market demand from the BFSI sector and rise in theft of data.
The objectives of an integrated security services are to detect intruders with a high degree of reliability and then to deter and delay them until an effective response can be accomplished. Moreover, integrated security services consist of various security perimeters such as wireless alarm systems, access control devices, and video surveillance. This integration allows for ease in managing all these supposedly different components and further allows to bring a greater layer of security for the organization.
Rise in awareness regarding the benefits of integrated security services and cost efficiency of integrated security solutions are major growth factors for the market. In addition, growing demand for integration platform as a service (iPaaS) and solutions is the major growth factor for the integrated security services market. However, need for implementation of supporting technology while deploying integrated security services is the major factor hampering the growth of the market. On the contrary, surge in service innovations embedded with emerging technologies is anticipated to provide lucrative opportunities for the growth of the market in the upcoming years. In addition, growing demand for proactive threat management, threat monitoring, and customization of security service as per the requirement are some of the major factors contributing to the growth of integrated security services. In addition, the trend of customized integrated security solutions has also gained traction. Customized solutions as per the business requirement are being offered by security solution providers. Hence, companies are developing integrated security solutions and providing implementation and maintenance services to combat various levels of risk.
The integrated security services market is segmented on the basis of type, deployment mode, enterprise size, industry vertical, and region. By type, it is segmented into compliance management, identity & access management, theft management, and others. On the basis of deployment mode, it is divided into on-premises and cloud. Based on enterprise size, it is segregated into large enterprise and small & medium enterprise. By industry vertical, the market is divided into BFSI, healthcare, IT & telecom, retail, energy & utilities, manufacturing, and others. Region wise, it is analyzed across North America (the U.S., and Canada), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study include Broadcom, CGI Inc., Cisco Systems, Inc., DynTek, Inc., Honeywell International Inc., IBM Corporation, Microsoft, Optiv Security Inc., Sophos Ltd., and Trend Micro Incorporated. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in March 2021, IBM Security announced new and enhanced services designed to help organizations manage their cloud security strategy, policies, and controls across hybrid cloud environments. The services bring together cloud-native, IBM and third-party technologies along with IBM expertise to help organizations create a unified security approach across their cloud ecosystems. In addition, in February 2021, Honeywell, a global leader in connected buildings, and IDEMIA, the global leader in Augmented Identity, announced a strategic alliance to create and cultivate an intelligent building ecosystem that provides a more seamless and enhanced experience for operators and occupants alike. The alliance integrates Honeywell's security and building management systems with IDEMIA's biometric-based access control systems to create frictionless, safer, and more efficient buildings. Such enhancements are expected to create numerous opportunities for the market growth during the forecast period.
Key Market Insights
By type, the identity and access management segment was the highest revenue contributor to the market, and is estimated to reach $18.66 billion by 2031, with a CAGR of 10.3%. However, the compliance management segment is estimated to be the fastest growing segment with the CAGR of 17.4% during the forecast period.By deployment mode, the on-premise segment was the highest revenue contributor to the market, and is estimated to reach $29.31 billion by 2031, with a CAGR of 12.6%.
By industry vertical, the BFSI segment dominated the global market, and is estimated to reach $12.02 billion by 2031, with a CAGR of 8.6%.
Based on region, North America was the highest revenue contributor, accounting for $5.81 billion in 2021, and is estimated to reach $15.35 billion by 2031, with a CAGR of 10.5%.
Companies Mentioned
- IBM Corporation
- Optiv Security Inc.
- DynTek, Inc.
- Trend Micro Incorporated
- Broadcom
- CGI Inc.
- Cisco Systems, Inc.
- Microsoft
- Honeywell International Inc.
- Sophos Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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