Global Security Solutions Market – Industry Trends and Forecast to 2029

Global Security Solutions Market, By Offering (Products, Security Systems Integration, Remote Monitoring Services, Fire Protection Services, Video Surveillance Services, and Access Control Services), End User (Commercial, Residential, Government, Transportation, Retail, Banking and Finance, Education, Industrial, Energy and Utility, Sports and Leisure, Healthcare, and Military and Defense) – Industry Trends and Forecast to 2029.

Market Analysis and Size

Today, government of various countries are emphasizing on the data integrity to protect both software information and infrastructure. The operation of the security system is crucial for business, personal and commercial purposes. These solutions are widely being deployed for monitoring, surveillance, protection and integration services.

Global Security Solutions Market was valued at USD 308.66 billion in 2021 and is expected to reach USD 633.32 billion by 2029, registering a CAGR of 9.40% during the forecast period of 2022-2029. Military and Defense accounts for the largest technology segment in the respective market owing to the increased threat of terrorism and cross border intrusions. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Security Solutions include a security system that prevents unauthorized entry and interference into personal, regulatory, and defense facilities. This is intended to safeguard users from risks such as subversion, fire, accidents, espionage, attacks, and crimes by notifying them of situations.

Report Scope and Market Segmentation

Security Solutions Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in the worldwide adoption of wireless technology

With emerging technologies such as IoT, cloud computing, and big data, wireless technology utilization is fast expanding. In addition, new technologies like 5G and AI are accelerating the development of smart home automation infrastructure. This is likely to increase market demand for security solutions.

• Increasing defense modernization programs

The market is expected to grow as a result of rising global defense spending in response to rising international threats and terrorist activities. Also, the rise in security concerns and willingness to pay for security systems has a positive impact on the market.

• Growing demand for security solutions for smart cities 

Smart city development has increased in tandem with economic growth. Commercial sites and structures, government districts, industrial regions, motorways, and airports are only a few of the smart city development activities. This is a major driver of the market's expansion.

Opportunities

Furthermore, rise in the adoption of access control as a service extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Proliferation of smart city initiatives worldwide along with implementation of mobile-based access control will further expand the market.

Restraints/Challenges

On the other hand, increased high installation, operational, and maintenance costs, and security concerns associated with unauthorized access and data breach are expected to obstruct market growth. Also, complication regarding security systems and requirement for high-capacity storage systems and higher bandwidth are projected to challenge the security solutions market in the forecast period of 2022-2029.

 This security solutions market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on security solutions market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Security Solutions Market

COVID-19 had a positive impact on the security solutions market due to the rise in number of industry verticals adopting endpoint security tools during the outbreak of COVID-19. Numerous industries, especially banking, financial services and insurance (BFSI), along with telecommunications and IT was deploying security solutions to secure consumer data. The security solutions market is expected to witness high growth in the post-pandemic scenario owing to the rise in awareness regarding the potential benefits of security solutions and increase in adoption of BYOD.

Recent Developments

• In June 2021, Teledyne FLIR announced the availability of ruggedized advanced smart sensor-equipped thermal cameras A500f/700F for high-temperature and fire detection in severe settings, including alarm capabilities and on-camera analytics. These features are ideal for early identification and monitoring of industrial fires.

Global Security Solutions Market Scope and Market Size

The security solutions market is segmented on the basis of offering and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offering

• Products
• Security Systems Integration
• Remote Monitoring Services
• Fire Protection Services
• Video Surveillance Services
• Access Control Services

End User

• Commercial
• Residential
• Government
• Transportation
• Retail
• Banking and Finance
• Education
• Industrial
• Energy and Utility
• Sports and Leisure
• Healthcare
• Military and Defense

Security Solutions Market Regional Analysis/Insights

The security solutions market is analysed and market size insights and trends are provided by country, offering and end user as referenced above.

The countries covered in the security solutions market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of the Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).

North America dominates the security solutions market because of the rise in the demand from the defence sector and evolving technology in the support of surveillance and monitoring within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of growing focus of government on infrastructural development and security systems and several threats including insider attacks, frauds, and Advanced Persistent Threats (APT) in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Security Solutions Market Share Analysis

The security solutions market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to security solutions market.

Some of the major players operating in the security solutions market are

• Cisco Systems, Inc. (US)
• IBM Corporation (US)
• Intel Corporation (US)
• Infineon Technologies AG (Germany)
• Symantec Corporation (US)
• Gemalto NV (Netherlands)
• Allot (Israel)
• Fortinet, Inc. (US)
• ABB (Sweden)
• Siemens AG (Germany)
• Honeywell International Inc. (US)
• Emerson Electric Co. (US)
• Yokogawa Electric Corporation (Japan)
• General Electric Company (US)
• Schneider Electric (France)
• Rockwell Automation Inc. (US)