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Market Synopsis:The growing threat of cyberattacks has led to rapid advancements in security solutions. It has been unfolded in Market Research Future (MRFR)’s report that the observation reveals that the market’s valuation is set to increase to USD 410.27 Bn by 2023 up from USD 222.52 Bn in 2017.
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These solutions offer protection to physical as well as software-based data of the organizations. Rising cases of data theft are likely to boost the adoption of the product over the next couple of years. The trend is expected to benefit the growth of the security solutions market in the years to come. Also, the innovations being introduced by the major participants are anticipated to drive the expansion of the security solutions market across the review period.
Increasing residential applications for the protection of physical infrastructure is further poised to reflect on the proliferation of the global market in the nearby future. However, on the other hand, the high cost of installation remains an impediment to market growth.
Top Key Players
Honeywell International, Inc. (US), Godrej & Boyce Manufacturing Company Limited (India), Tyco International Ltd (US), Bosch Security Systems (Germany), Hikvision Digital Technology Co. Ltd (China), ASSA ABLOY AB (Sweden), ADT Corp(US), UTC Fire & Security (US), Nortek Security & Control LLC (US), and SECOM Co., Ltd (Japan) are few of the major players of the global security solutions market.
Competitive Dashboard:
A detailed analysis of the key developments and market shares of these players is included in the report. These players are assessed to invest in technological advancements in the years to come for staying ahead of the curve. In addition, efforts directed towards the expansion of global footprint is further anticipated to motivate competitiveness among the key players. Some of the approaches poised to be witnessed in the competitive landscape of the security solutions market are mergers & acquisitions, agreements, product portfolio development, research & development, collaborations, etc.
Industry News:
In September 2019, Netatmo, a French company specializing in connected objects, has announced the launch of a smart alarm system that comprises three key components - windows and door sensors, a camera, plus a 'smart siren'.
In September 2019, Boundary, a home security technology specialist, has raised £1.22 Mn for the launch of its innovative smart home security alarm.
Market Segmentation:
The key products profiled in the segmental analysis of the global security solutions market are entrance control, wireless systems, intruder alarms, thermal cameras, access control, fire control video surveillance, and others.
The segments of the security solutions market, based on service, are - security systems integration, remote monitoring services, video surveillance services, fire protection services, access control service, and others.
By end-user, the global security solutions market has been segmented into commercial, energy & utility, industrial, transportation, banking & finance, retail, education, government, residential, transportation, and others.
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Regional Analysis:
The global security solutions market, by region, is segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). The regional assessment of the market is further studied on a country-level basis for detailed analysis. North America is assessed to retain its pole position in the global market place through the forecast period. Implementation of laws mandating the deployment of fire protection and security solutions is prognosticated to ensure the accelerated growth pace of the regional market in the upcoming years. Also, the rising number of construction projects is expected to boost the residential application of the product in the years to come. This, in turn, is likely to propel the proliferation of the security solutions market over the evaluation period.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future, +1 646 845 9312, Email: sales@marketresearchfuture.com,
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/security-solutions-market-2481
Release ID: 88927076
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