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The global security market size attained a value of more than USD 121.65 billion in 2023. The market is further expected to grow at a CAGR of 10.6% in the forecast period of 2024-2032 to reach around USD 302.55 billion in 2032.
Security systems refer to the combination of electronic components and devices designed to protect homes, commercial properties, and even individuals from a variety of security risks. These risks can include burglary, vandalism, fire, and unauthorised access. Security systems typically operate on the principle of securing entry points like doors and windows, as well as interior space.
Security systems offer various benefits, such as holding information records, tracking of business and residential activities, and enabling nations to combat terrorism and external threats at different points. Through the growing threat of terrorism and cross-border infiltration, these technologies have high levels of military and defence adoption.
The concept of security systems dates back to ancient times when simple mechanical alarms, such as bells or chimes triggered by opening doors or windows, were used. With the advent of electricity and telecommunications in the late 19th and early 20th centuries, the first electromechanical burglar alarms were developed. These systems used electrical circuits and magnets to detect the opening of doors and windows. The concept of central monitoring emerged in the 1940s when businesses started to use systems that could signal a central call station in the event of a break-in. This was a significant step towards the modern monitored security systems.
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The proliferation of the internet and smart technology in the 21st century dramatically changed security systems as homeowners could now monitor their homes remotely via the internet. Today, security systems are highly sophisticated and often include a combination of intrusion detection, video surveillance, access control, and fire detection, they can be monitored remotely, are often integrated with smart home devices, and can provide real-time alerts to homeowners and law enforcement.
Based on the system, the market can be divided into:
The demand for video surveillance systems around the world has been growing significantly, driven by several key factors. There is an increasing need for enhanced security measures in both private and public sectors. Video surveillance acts as a deterrent to criminal activity and a means of recording evidence in case of incidents. It's used extensively in various settings, including retail stores, offices, schools, public areas, and private residences.
Advances in technology are some of the crucial security market trends that have significantly improved the capabilities of video surveillance systems. Modern systems offer high-definition video quality, wider viewing angles, and the ability to zoom in for detail. The integration of artificial intelligence and machine learning has enabled features like facial recognition, motion detection, and abnormal behaviour detection.
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Based on service, the market can be segmented into the following:
The demand for system integration and consulting services in the market has been growing due to several key factors. Modern security systems often comprise various interconnected components, including video surveillance, access control, intrusion detection, and cybersecurity measures. The complexity of integrating these disparate systems effectively has increased the need for professional system integration and consulting services.
Every organisation has unique security needs based on its size, industry, location, and specific risks. System integrators and consultants can tailor security solutions to meet these specific requirements, ensuring more effective and efficient security management.
The market can be broadly categorised based on its applications into:
The military and defence sector occupies a substantial security market share. The primary objective of the military and defence sector is to ensure national security and this necessitates a wide array of advanced security measures, from surveillance systems to secure communication networks, which drives significant investment in security technologies.
Military and defence operations often take place in high-risk environments, requiring robust security systems. This includes the need for surveillance, reconnaissance, and intelligence gathering to protect borders, military bases, and critical infrastructure. These sectors are also often at the forefront of technological innovation in security, including the development and deployment of cutting-edge technologies like unmanned systems (drones), cyber defence mechanisms, advanced surveillance and reconnaissance systems, and AI-based threat detection and analysis tools.
The report also covers the major regional markets for security, which are as follows:
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The growing illegal activities worldwide, combined with strict government controls have led to the increased implementation of security systems. Due to the introduction of advanced technologies, the growing competition in the market is fuelling the need for automation in organisations at various levels. The increased need for security systems, like access control systems and video monitoring systems for real-time monitoring, has contributed to the growing number of security infrastructures worldwide. The security market demand is therefore expected to increase over the forecast period.
The military and defence sector led the market in 2020. The growing threat of terrorism and cross-border invasions led the military and defence sector of different countries to introduce the best security systems.
The demand for security products and services in North America is robust and multifaceted, driven by various factors. In North America, particularly in the United States, there is a significant focus on national security and defence. This includes investment in military infrastructure, border security, and cybersecurity measures. The defence sector's need for advanced surveillance, intelligence, and reconnaissance systems contributes significantly to the security market growth.
With the increasing incidence of cyber-attacks and data breaches, there is a heightened focus on cybersecurity solutions to protect digital assets and infrastructure in both the private and public sectors. The region is also a hub for technological innovation, especially in areas like artificial intelligence, IoT (Internet of Things), and cybersecurity. The integration of these technologies into security systems is driving demand as consumers and businesses seek more efficient, automated, and interconnected security solutions.
Regulatory requirements, particularly in sectors like banking, healthcare, and energy, drive the need for compliant security systems. Regulations such as HIPAA (Health Insurance Portability and Accountability Act) in healthcare and various financial regulations in banking necessitate robust security measures.
Moreover, businesses in North America are increasingly focused on risk management and corporate security, which includes protecting assets, intellectual property, and personnel, as well as ensuring business continuity and resilience against various threats. The popularity of smart home devices and the growth of the IoT market have further spurred demand for integrated home security solutions. These include smart locks, alarms, and surveillance systems that can be remotely controlled and monitored.
The report presents a detailed analysis of the following key players in the global security market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by System |
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Breakup by Service |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Security Market Analysis
8.1 Key Industry Highlights
8.2 Global Security Historical Market (2018-2023)
8.3 Global Security Market Forecast (2024-2032)
8.4 Global Security Market by System
8.4.1 Access Control Systems
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Alarms and Notification Systems
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Intrusion Detection Systems
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Video Surveillance Systems
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Barrier Systems
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Security Market by Service
8.5.1 System Integration and Consulting
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Risk Assessment and Analysis
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Managed Security Services
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Maintenance and Support
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.6 Global Security Market by Application
8.6.1 Government
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Military and Defence
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Transportation
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Commercial
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Industrial
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Security Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Security Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Security Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Security Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Security Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Security Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Ameristar Perimeter Security
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 ATG Access Ltd.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Avon Barrier Corporation Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Barrier1 Systems, LLC
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 CIAS Elettronica Srl
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Delta Scientific Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 EL-Go Team
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Teledyne FLIR LLC
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Frontier Pitts Ltd.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Security Market: Key Industry Highlights, 2018 and 2032
2. Global Security Historical Market: Breakup by System (USD Billion), 2018-2023
3. Global Security Market Forecast: Breakup by System (USD Billion), 2024-2032
4. Global Security Historical Market: Breakup by Service (USD Billion), 2018-2023
5. Global Security Market Forecast: Breakup by Service (USD Billion), 2024-2032
6. Global Security Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Security Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Security Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Security Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Security Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Security Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Security Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Security Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Security Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Security Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Security Market Structure
In 2023, the market attained a value of approximately USD 121.65 billion.
The market is projected to grow at a CAGR of 10.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 302.55 billion by 2032.
The major drivers of the market include increasing illegal activities worldwide combined with strict initiatives by various governments and growing need for advanced security systems such access control systems and video monitoring systems for real-time monitoring.
The growing threat of terrorism and cross-border infiltration along with rising number of smart cities are expected to be key trends guiding the growth of the global security market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The systems of security available are access control systems, alarms, and notification systems, intrusion detection systems, video surveillance systems, and barrier systems, amongst others.
Security finds applications in government, military and defence, transportation, commercial, and industrial, amongst others.
By service, the market is categorised into system integration and consulting, risk assessment and analysis, managed security services, and maintenance and support.
The leading players in this market are Ameristar Perimeter Security, ATG Access Ltd., Avon Barrier Corporation Ltd., Barrier1 Systems, LLC, CIAS Elettronica Srl, Delta Scientific Corporation, EL-Go Team, Teledyne FLIR LLC, and Frontier Pitts Ltd., among others.
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