The global security market size is anticipated to reach USD
167.12 billion by 2025, according to a new report by Grand View Research, Inc.
It is anticipated to expand at a CAGR of 10.3% during the forecast period. The
adoption of security systems is increasing as they offer high quality
surveillance with optimized distortion. Rise in illegal activities across the
globe coupled with stringent government regulations has led to a surge in
adoption of security systems.
Increasing competition in the market,
owing to the introduction of advanced technologies, is driving the need for
automation in organizations at various levels. In addition, growing number of
infrastructures across the globe has resulted in increased demand for safety
systems such as access control systems and video surveillance system for
real-time monitoring. As a result, the demand for security systems is
anticipated to rise over the forecast period.
The video surveillance systems segment
led the market in 2018. Rising use of cameras in various locations, such as
airports, railway stations, and ports, for security purposes, is driving the
demand for high-quality video cameras that enable effective monitoring. These
systems are largely being used by the military and defense sector for
surveillance purposes.
The maintenance and support segment is
anticipated to witness substantial growth, owing to the need for regular
maintenance, post installation. The demand for these services is expected to
increase over the forecast period. Increasing number of advancements in video
capturing is encouraging providers to introduce new updates in minimal time
with better quality. This is further creating an opportunity for growth of the
security market.
Governments of various nations such as
U.S. and Canada have initiated implementation of security systems and are
emphasizing on cross border safety. Suppliers are focusing on collaborations
with other manufacturers for achieving enhanced product features and improved
performance. Advanced systems help effectively monitor the surrounding
activities with optimized power consumption.
Browse full research report on Security Market: https://www.grandviewresearch.com/industry-analysis/security-market
Further key findings from the report suggest:
- Security
systems segment is expected to account for the highest market share in
terms of revenue, witnessing the highest CAGR of 10.0% from 2019 to 2025
- Demand
for security system has been increasing over the years, owing to the
increasing awareness regarding safety concerns and adoption of advanced
systems with real-time monitoring support
- North
America is expected to continue to lead the security market over the
forecast period and reach USD 53.15 billion by 2025
- Key
market players are Anixter International, Inc.; Tyco International Plc.;
Honeywell International, Inc.; FLIR Systems, Inc.; Axis Communications AB;
and Senstar Corporation
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/security-market/request/rs1
Grand View Research has segmented the global security market based
on system, service, end use, and region:
Security System Outlook (Revenue, USD Billion, 2014 - 2025)
- Access
Control Systems
- Alarms
& Notification Systems
- Intrusion
Detection Systems
- Video
Surveillance Systems
- Barrier
Systems
- Others
Security Service Outlook (Revenue, USD Billion, 2014 - 2025)
- System
Integration & Consulting
- Risk
Assessment and Analysis
- Managed
Services
- Maintenance
and Support
Security End Use Outlook (Revenue, USD Billion, 2014 - 2025)
- Government
- Military
and Defense
- Transportation
- Commercial
- Industrial
- Others
Security Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia
Pacific
- Australia
- New
Zealand
- China
- Japan
- India
- Latin
America
- Brazil
- Mexico
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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