Press release
Commercial Security Systems Market Poised for 9.6 % Growth, Set to Hit $423.05 Billion by 2029
Commercial Security Systems Market
The escalating prevalence of fraud losses is predicted to fuel the growth of the commercial security systems market in times ahead. Fraud losses are characterized as financial damages suffered by individuals, enterprises, or institutions due to deceptive practices. Commercial security systems provide the means for business owners or security staff to remote monitor and manage the system via mobile applications or web interfaces. For example, the Federal Trade Commission, an intergovernmental organization based in the United States, reported in February 2023 that consumers had been defrauded of around $8.8 billion in 2022, marking an uptick of over 30% compared to the preceding year. Consequently, the surging occurrences of theft are propelling the expansion of the commercial security systems market.
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What growth opportunities are expected to drive the commercial security systems market's CAGR through 2034?
There has been robust growth in the commercial security systems market size in the past few years. It is expected to surge from $268.19 billion in 2024 to $293.65 billion in 2025, marking a compound annual growth rate (CAGR) of 9.5%. The market's growth during the historic period is likely due to advancements in computing power, the emergence of cloud computing, enhancements in natural language processing (nlp), the assimilation of IoT devices, and the development of industry-specific applications.
The market for commercial security systems is predicted to witness considerable expansion in the forthcoming years, escalating to $423.05 billion by 2029 with a 9.6% Compound Annual Growth Rate (CAGR). This surge during the predicted period can be ascribed to the increased availability of AI talent, worldwide deployment of 5G networks, improved AI explainability, significant data generation growth, and the effect of quantum computing. Foreseeable trends for this period include the normalization of explainable AI, AI-supported autonomous systems, collaboration between humans and AI, AI-facilitated healthcare solutions, and technological advancements.
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What trends are poised to drive the future success of the commercial security systems market?
In the commercial security systems market, leading corporations are introducing cutting-edge technologies such as cloud-based storage and remote surveillance systems to boost the security of commercial clientele. With cloud-based storage, data can be remotely stored and accessed from multiple devices and locations. This advancement has revolutionized the security sector, simplifying the management of security for commercial facilities, residential areas, and educational sites. For example, in August 2023, Casepoint Pvt. Ltd., a software firm based in India, unveiled Casepoint FileStore, their proprietary solution for cloud-based data storage and staging. This new offering empowers organizations to store their data safely, thereby safeguarding it against unpermitted access and potential breaches.
Which growth-oriented segments of the commercial security systems market are leading the industry's development?
The commercial security systems market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Application: Indoor Or Outdoor Surveillance, Flood Detection Or Protection, Theft Deterrence, Occupancy And People Counting, Other Applications
3) By End-User: Retail, Healthcare, Offices Complex, Banking, Financial Services, And Insurance (BFSI), Government And Education, Other End Users
Subsegments:
1) By Hardware: Surveillance Cameras, Access Control Systems, Intrusion Detection Systems, Alarm Systems, Sensors
2) By Software: Video Management Software (VMS), Access Control Management Software, Security Information And Event Management (SIEM) Software, Incident Management Software
3) By Services: Installation Services, Maintenance And Support Services, Monitoring Services, Consulting Services
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What regions are leading the charge in the commercial security systems market?
North America was the largest region in the commercial security systems market in 2024. The regions covered in the commercial security systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the commercial security systems market?
Major companies operating in the commercial security systems market report are Comcast Corp., Robert Bosch GmbH, Cisco Corporation, Honeywell International Inc., Johnson Controls International PLC, Carrier Global Corporation, Hangzhou Hikvision Digital Technology Co. Ltd., ASSA ABLOY, ADT Inc., Allegion PLC, Dormakaba Group, Dahua Technology Inc., Axis Communication AB, Hochiki Corporation, Godrej & Boyce Manufacturing Company Limited, Nortek Security and Control, Control4, Aetina Corporation, ASEC Engineers Inc., Tyco International PLC, ISC Projects Pvt. Ltd., Genetec Inc., Onyx Company, Vanderbilt Ltd., Amdahl Security Corporation
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What Is Covered In The Commercial Security Systems Global Market Report?
• Market Size Forecast: Examine the commercial security systems market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the commercial security systems market for a structured understanding.
• Key Players Overview: Analyze major players in the commercial security systems market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the commercial security systems market.
• Segment Contributions: Evaluate how different segments drive overall growth in the commercial security systems market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the commercial security systems market.
• Industry Challenges: Identify potential risks and obstacles affecting the commercial security systems market.
• Competitive Landscape: Review strategic developments in the commercial security systems market, including expansions, agreements, and new product launches.
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