Press release
Security Solutions Market Revenue, Future Growth, Trends, Top Key Players, Business Opportunities, Industry Share, Size Analysis by Forecast 2026
Security Solutions Market
Latest data released by the Stockholm International Peace Research Institute (SIPRI) reveals that the total defense expenditure globally rose by USD 1917 billion in 2019, indicating a 3.6% increase from 2018 levels. Representing 2.2% of the global gross domestic product (GDP), this increase is the largest recorded spike in military spending since 2010. According to SIPRI, the biggest spenders in 2019 were the US, China, India, Russia, and Saudi Arabia, accounting for 62% of the total expenditure. These elevated expenditures on the defense sector reflect the strong focus of nations to bolster their national security arsenal and a greater willingness to invest in advanced Security Solutions to deter enemy attacks.
COVID-19 Impact on Security Solutions Industry:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
As per the report findings, the value of the market stood at USD 249.65 billion in 2018.
List of Companies Profiled in the Security Solutions Market Research Report are:
ADT Inc. (The US)
Airbus SE (Netherlands)
BAE Systems PLC (The UK)
FLIR Systems, Inc. (The US)
Hikvision (China)
Honeywell International Inc. (The US)
IBM Corporation (The US)
Johnson Controls (The US)
Lockheed Martin Corporation (The US)
Raytheon Company (The US)
Robert Bosch GmbH (Germany)
Rohde & Schwarz (Germany)
Thales Group (France)
United Technologies Corporation (The US)
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The report answers the following questions:
What is the overall industry outlook and how will impact the market?
What are the main drivers and trends shaping the market growth?
Which factors are stalling the growth of the market?
What are the regional prospects for the market?
Who are key market players and what are their preferred strategies?
Market Driver
Increasing Urbanization across the Globe to Create New Opportunities
The UN Department of Social and Economic Affairs (DESA) estimates that by 2050, roughly 68% of the world's population will reside in urban areas. Urban agglomerations typically exert pressure on public safety and infrastructure, necessitating adoption of efficien Security Solutions to ensure orderly conduct of urban activities.
Technological advancements in surveillance systems powered by tools such as Artificial Intelligence (AI) and Internet of Things (IoT) can prove highly effective in monitoring public life in urban spaces, especially when cities worldwide are transitioning into smart cities. For example, the Ministry of Home Affairs in India granted permission to the Delhi Traffic Police to install an intelligent traffic management system (ITMS) to regulate traffic using AI-powered radar-based monitoring. The automation of traffic signals enabled by this system will aid the police to analyze data and manage traffic accordingly.
Regional Analysis
North America to Hold Lion's Share in the Market; Asia-Pacific to Register Considerable Growth
North America generated USD 117.83 billion in revenue in 2018 and is anticipated to dominate the Security Solutions market share in the coming years owing to strong presence of global security system OEMs in the region. Furthermore, companies in this region are at forefront of technological advancements in security software and hardware, which provides a solid base for the market to grow. Lastly, the US is the world's largest spender on military and is also known to be the quickest adopter of advanced military technologies, which will further strengthen the position of the region in this market. In Asia-Pacific, the market will be primarily driven by the swift modernization of militaries, especially in India, China, and Japan, fueled by steadily rising defense expenditures.
Competitive Landscape
Companies to Leverage Intelligent Technologies to Develop Next-Gen Solutions
The competitive landscape of this market is marked by the presence of a few, strong companies that are globally renowned for their diverse products. With a view to gain an additional edge in the market, these companies are ramping up their R&D investment to engineer advanced solutions integrated with intelligent systems such as AI and IoT.
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Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Industry Developments -Contracts & Agreements, Mergers, Acquisitions and Partnerships
Latest technological Advancements
Porters Five Forces Analysis
Supply Chain Analysis
Global Security Solutions Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast - By Type
Product
Fire Protection
Video Surveillance
Access Control
Entrance Control
Intruder Alarms
Thermal Cameras
Services
Security Systems Integration
Remote Monitoring Services
Fire Protection Services
Video Surveillance Services
Access Control Services
Market Analysis, Insights and Forecast - By End-User
Commercial
Residential
Industrial
Government
Military & Defense
Others
Market Analysis, Insights and Forecast - By Region
North America
Europe
Asia pacific
Rest of the world
TOC Continued…!!!
Industry Developments:
February 2020: The US-based defense contractor, Raytheon Company, announced its partnership with IronNet Cybersecurity, to design and develop Security Solutions for operational and information technology (OT/IT) systems. The solutions will be equipped with superior security services and enhanced threat analysis capabilities.
November 2019: Thales Group, the French aerospace & defense industry giant, unveiled its novel Security Solutions founded on a digital platform, conceived to function as digital control center to process and analyze from multiple sources through a series of complex algorithms and advanced sensors.
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