Press release
Security Market Size Forecasted To Achieve $204.34 Billion By 2029 With Steady Growth
Security Market Size
What Is the Security Market Size and Projected Growth Rate?
The security market size is expected to grow from $135.82 billion in 2024 to $147.62 billion in 2025, at a CAGR of 8.7%. The growth is linked to heightened awareness, urbanization, increasing cyber threats, expanding global business operations, and infrastructure growth.
The security market is anticipated to reach $204.35 billion by 2029 at a CAGR of 8.5%. The growth is driven by smart infrastructure expansion, cloud services usage, integrated security solutions demand, critical infrastructure sector growth, and remote work rise. Trends include AI and machine learning, extended detection and response, IoT security, security automation, and the development of new security protocols.
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What Are the Major Segments in the Security Market?
The securitymarket covered in this report is segmented -
1) By System: Access Control Systems, Alarms And Notification Systems, Intrusion Detection Systems, Video Surveillance Systems, Barrier Systems, Other Systems
2) By Service: System Integration And Consulting, Risk Assessment And Analysis, Managed Services, Maintenance And Support
3) By End User: Government, Military And Defense, Transportation, Commercial, Industrial, Other End Users
Subsegments:
1) Access Control Systems: Card-Based Systems, Biometric Systems, Keypad Systems
2) Alarms And Notification Systems: Intruder Alarms, Fire Alarms, Emergency Notification Systems
3) Intrusion Detection Systems: Motion Sensors, Glass Break Detectors, Perimeter Sensors
4) Video Surveillance Systems: CCTV Cameras, IP Cameras, Video Management Software
5) Barrier Systems: Automatic Gates, Bollards, Turnstiles
6) Other Systems: Cybersecurity Solutions, Monitoring Services, Security Management Software
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What Are The Driving Security Market Evolution?
The growth of terrorism is expected to drive the security market. Terrorism, driven by political instability, extremist ideologies, and socio-economic grievances, aims to achieve political, ideological, or religious goals through violence. Security measures help combat terrorism by providing surveillance, intelligence, and protective infrastructure. According to the Global Terrorism Index 2023, terrorist attacks have become more lethal, with an average of 1.7 fatalities per incident in 2023, up from 1.3 in 2021. This increase in terrorism is driving the growth of the security market.
Which Firms Dominate The Security Market Segments?
Major companies operating in the security market are Honeywell International Inc., Johnson Controls, Thales Group S.A., ASSA ABLOY AB, Anixter Inc., Teledyne FLIR LLC, Juniper Networks Inc., Zhejiang Dahua Technology Co. Ltd., NortonLifeLock Inc., Ameristar Perimeter Security USA Inc., McAfee LLC, Axis Communications AB, Kaspersky Lab, Senstar Technologies Corporation, ATG Access Ltd., Delta Scientific Corporation, Frontier Pitts Ltd., Perimeter Protection Group, CIAS Elettronica Srl, Barrier1 Systems LLC, ZABAG Security Engineering GmbH, Avon Barrier Corporation Ltd., Apex Perimeter Protection LLC, EL-Go Team
What Are the Latest Developing Trends in the Security Market?
Companies in the security market are focusing on AI-powered motion sensors to enhance threat detection. In June 2023, SimpliSafe introduced 24/7 Live Guard Protection, enabled by a smart alarm camera that allows real-time visual engagement with intruders. The system enhances security by providing proactive response and notifying authorities when necessary.
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Which Is The Largest Region In The Security Market?
North America was the largest region in the security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Security Market?
2. What is the CAGR expected in the Security Market?
3. What Are the Key Innovations Transforming the Security Industry?
4. Which Region Is Leading the Security Market?
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