Press release
Security Solutions Market 2018 Global Key Leaders: Honeywell International, Tyco, Godrej & Boyce, Bosch Security, ASSA ABLOY, Hikvision Digital, ADT, Nortek, UTC Fire & Security
Global Security Solutions Market by Product (Video surveillance, Access control, Intruder alarms, Wireless systems), by Services (Remote Monitoring Services, Video Surveillance Services, Security Systems Integration) and End-users (Commercial, Residential, Government, Healthcare) - Forecast to 2022
The key players in the global security solutions market include Honeywell International, Inc. (U.S.), Tyco International Ltd (U.S.), Godrej & Boyce Manufacturing Company Limited (India), Bosch Security Systems (Germany), ASSA ABLOY AB (Sweden), Hikvision Digital Technology Co.Lt (China), ADT Corp(U.S.)., Nortek Security & Control LLC (U.S.), UTC Fire & Security (U.S.) and others.
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According to Market Research Future Analysis, Security Solutions Market has been valued at USD ~380 billion by 2022 growing with ~11% of CAGR during forecast period 2016 to 2022.
Market Highlights:
The increasing incidences of crimes such as theft of physical or data information have led to a need for security systems to protect not only an individual’s belongings but the property as well. Corporate organizations are investing substantial amounts to protect sensitive data and their employees. For example, access control systems or biometric security systems are used in server rooms of organizations that deal with sensitive data. Hence, such security solutions prevent unauthorized access.
Security solutions can be defined as defense of digital information and IT assets against internal and external and accidental threats. Security solutions are important for all the enterprises and organizations of all sizes and also in various industries.
The growing need to protect individual’s properties, increasing consumer awareness regarding security concerns, adoption of new advanced security systems and growth in the usage of wireless technologies. However, low adoption of security solutions hampers the growth of the market.
Segmentations:
According to Market Research Future, market has been segmented into product, services, end-users and region.
By Product-
•Entrance control
•Intruder alarms
•Wireless systems
•Thermal cameras
•Video surveillance
•Access control
•Fire Control
By Services-
•Remote monitoring services
•Fire protection services
•Video surveillance services
•Access control service
•Security systems integration
By End-users-
•Commercial
•Industrial
•Energy & Utility
•Transportation
•Retail
•Banking & finance
•Education
•Residential
•Government
•Transportation
•Others
Out of these end-users, commercial segment accounted for the largest market share majorly due to the increasing crimes rates such as theft of physical or data have led to a need for security systems to protect their own belongings.
By Region, MRFR analysis shows that, North-America accounted for the largest market share because of the technological advancements also fire protection systems and equipment manufacturers in this region offer different fire protection systems and most residential buildings in this region is fitted with fire protection systems due to mandatory fire protection and safety regulations.
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Market Research Future Analysis:
The global security solutions market is expected to grow significantly. The market is highly application basis. Commercial segment of security solutions market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
North-America accounted for the largest market share because of the technological advancements and usage of fire protection systems by all the commercial and residential building structures.
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.
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