Statistics of Security
Solutions Market covering market
size, industry share numbers, regional outlook, competitive landscape with data
about leading companies is now available in the latest report by Global Market
Insights, Inc.
Security Solutions Market
size is anticipated to witness growth during the forecast period owing to the
growing necessity to protect property and individuals from increasing threats.
Increasing consumer awareness regarding prevailing security concerns is
expected to drive security solutions market growth for the next eight years.
The design of
sophisticated and efficient systems, in addition to user-friendly installation
features, enabled by wireless technology is anticipated to boost the market
growth. Furthermore, adoption of IoT-based systems and remote monitoring using
mobile devices are expected to provide impetus to security solutions market
growth. The high cost of maintenance and large initial investments are expected
to restrain the market growth. Lack of awareness regarding technological
advancements is expected to challenge security solutions market growth.
Furthermore, the low adoption rate is expected to challenge manufacturers.
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The security solutions market is segmented on the
basis of the type of solutions and the end-use industry. The system, by type,
is classified into products and services. The products include fire protection,
thermal cameras, video surveillance, wireless systems, access control, intruder
alarms, and entrance control. The services include security systems
integration, access control services, remote monitoring, video surveillance,
and fire protection services.
Fire protection systems segment is anticipated to lead
the security solutions market during the forecast time frame. Some of the major
systems included under this type are sprinklers, fire alarms, and
extinguishers. Increasing use of fire protection systems in residential and
industrial buildings is expected to drive the market. Roving patrol systems are
a preferred option to provide security to vast stretches of land such as huge
housing societies or large manufacturing companies. These systems are
economical and provide visible presence, GPRS tracking, quick response, and
active patrolling.
On the basis of end-use industry, the security
solutions market is segmented into retail, residential, commercial,
transportation, BFSI, education, government, industrial, healthcare, and energy
& utilities. The commercial end-use segment is expected to hold the largest
market share, owing to increasing instances of theft of physical and data/information
property and the growing need to protect people & property. The corporate
organizations are increasingly investing in these systems to protect employees
and sensitive data. For instance, biometric or access control systems are used
in server rooms of large corporations that deal with critical & sensitive
data.
The wireless systems are projected to grow at a high
CAGR. These types of systems can improve interactive monitoring services. These
can be remotely and easily operated. Residential premises are being
increasingly equipped with technological platforms to enable the occupants to
remotely access electronic devices using tablets, smartphone, and laptops.
These include intruder alarm systems, medical alert systems, intercom systems,
access control & management systems, video surveillance systems, and
integrated systems. Growing use of these systems for residential security is
projected to propel security solutions market growth.
North America is expected to dominate the global
security solutions market. Most of the residential and commercial buildings in
this region are equipped with fire protection systems, owing to stringent fire
and safety protection norms. Several manufacturers in this region offer
different systems such as flame detectors, fire detectors, sprinklers, heat
detectors, fire alarms, extinguishers, sirens, fire analysis software, and
control panels & interfaces.
Asia Pacific is anticipated to be the region of the
fastest growth owing to high infrastructure growth in railways, airports, and
highways. Strong growth in banking and financial services is expected to
provide ample growth opportunities for security solutions market for the next
eight years.
Some of the key security solutions market participants
include ASSA ABLOY AB, Zhejiang Dahua Technology Co., Ltd., Bosch Security
Systems, Axis Communications AB, Honeywell International, Inc., Stanley
Security Solutions, Tyco International Ltd., SECOM Co., Ltd., UTC Fire &
Security, Hikvision Digital Technology Co., Ltd., ADT Corp., Alarm.com, Nortek
Security & Control LLC., Godrej & Boyce Manufacturing Company Ltd.,
Ingersoll Rand Solutions, Allegion, and Control4.
The security solutions market ecosystem comprises
manufacturers & suppliers, R&D firms, software solutions providers,
wearable product manufacturers, and end users. The manufacturers are
increasingly integrating and consolidating the products to provide
multiple functionalities. For instance, the property
management system provides security to multiple nodes in the same location.
These players are adopting different strategies to achieve a strong position
and penetration in the security solutions market. In the global security
solutions market, the number of players is growing, making it important for
manufacturers in gaining a competitive advantage over others. The strategies
adopted include mergers & acquisitions and new product developments. For
instance, Securitas developed a strategy to develop solutions specific to
customers. This helps in retaining the existing customers for a long period
through contract extensions. In November 2015, Stanley Security Solutions
announced a partnership with iView Now, a cloud-based video verification
service. This partnership strengthened Stanley’s position as a video alarm
monitoring services provider.
Companies in the security solutions market are
continuously investing in technological innovations to gain a competitive edge.
For instance, Bosch launched a new video-based fire detection system. AVIOTEC
IP Starlight 8000 is a unique and scientifically tested device that spots fire
and predicts behavior to speed up the reaction time and reduce occurrences of
false alarm.
This latest Security
Solutions Market research
report offers in-depth analysis, key industry insights, market sizing &
forecast on a granular level for key products, applications across number of
regional markets. The report also analyzes the Security
Solutions from
business strategy perspective, describing in detail growth drivers, pitfalls
&challenges for participants, accompanied by a detailed competitive
benchmarking including company market share analysis and detailed business
profiles.
Reasons to Buy This Report
•
Global Security Solutions Market size & forecast by product
& application.
•
Growth drivers, pitfalls & industry challenges.
•
Key Security Solutions Market growth opportunities & emerging
business models.
•
Competitive benchmarking with market share analysis and company
profiles.
About Global Market
Insights
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
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Us:
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Insights, Inc.
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