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United States Security Market to Reach USD 8.8 Billion by 2027, Aided by the Rising Security Concerns

According to a new report by EMR titled, ‘United States Security Market Report and Forecast 2022-2027’, the United States security industry attained a value of about USD 4.8 billion in 2021. The industry is further expected to grow at a CAGR of 11.20% in the forecast period of 2022-2027 to reach a value of USD 8.8 billion by 2027.

Growing adoption of security systems in government, military, police, and other sectors are some of the primary driving factors in market expansion. The rising incidences of theft and vandalism in public places, such as airports, train stations, ports, malls, convenience stores, hotels, and other locations are expected to drive demand for advanced security systems over the forecast period. Over the forecast period, a significant presence of large security system providers in the country, who offer expertise in system integration, risk assessment and analysis, and maintenance and support to diverse organisations, is expected to propel the market expansion. A key advantage of this sector is that video surveillance systems can be wire-free. As a result, these technologies are likely to replace traditional security systems in the forecast period. Video surveillance also provides interactive monitoring, real-time alerts, proof for authorities, increased accessibility, and increased productivity. Due to the necessity for frequent maintenance after installation, the maintenance and support market is expected to increase significantly. Over the forecast period, demand for these services is expected to rise. With the increasing number of developments in video capture, providers are being encouraged to release new upgrades in a shorter amount of time and with higher quality. This opens more opportunities for the security market to expand.

The demand for security systems is rapidly increasing due to urbanisation and development. Infrastructure sites, such as utility substations and transportation hubs, have higher safety requirements; therefore, companies are launching devices to enhance safety. For example- In December 2020, FLIR Systems, Inc. (NASDAQ: FLIR) announced the launch of three dome-like surveillance Pan-Tilt-Zoom (PTZ) cameras, the FLIR ElaraTM DX-Series and FLIR SarosTM DM-series, along with high-resolution visible cameras for safe city deployments, the FLIR QuasarTM 4 KIR PTZ.

Market Analysis by Systems, Services, and Applications:

  • Based on system, the market can be segmented into access control system, alarms and notification system, intrusion detection system, video surveillance system, and barrier system, among others.
  • The services provided are system integration and consulting, risk assessment and analysis, managed security services, maintenance and support.
  • The major applications of the industry are government, military and defence, transportation, commercial, and industrial, among others.

Key Findings of the Report:

  • Due to the introduction of advanced technologies, increasing competition in the market is driving the need for automation in organisations at various levels. 
  • The growing number of infrastructures across the globe has resulted in increased demand for safety systems, such as access control systems and video surveillance systems for real-time monitoring.
  • Suppliers are focusing on collaborations with other manufacturers for achieving enhanced product features and improved performance. 
  • Video surveillance is fast and more cost-effective than its counterparts. Hence, it is anticipated to attain significant growth in the forecast period.

Key Offerings of the report:

  • The EMR report gives an overview of the United States security market for the periods (2017-2021) and (2022-2027).   
  • The report also offers the historical (2017-2022) and forecasted (2022-2027) markets for the systems, services, and applications.    
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States security industry include Ameristar Perimeter Security, Barrier1 Systems, LLC., Delta Scientific Corporation, EL-Go Team, and Teledyne FLIR LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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