Security Systems Market Highlight:
A recently released new research by Market Research Future predicts that the global security systems size will be fueling up during the forecast period 2017–2023, at a 14.47% CAGR, and would gain a valuation of 78.56 USD billion by 2023.
As per the study conducted, it interprets that the security systems industry is escalating at a positive rate which also includes the wireless and electronic security systems. These sections are also emerging with the rising economies such as China, India and Japan, as they are investing more in defense and automation in industries such as retail, Banking & Finance and Transportation. With this, the early adoption towards industrial automation and highly advanced Aerospace & defense industry have also contributed tremendously in the global market for security systems’ growth.
At the same time, a lot of prominent organizations having remote connectivity in their global offices are also investing much more in wireless and electronic security in support of a huge threat of internet based applications and cyber-attacks to prevent the sensitive and confidential data. Besides, the industrial usage of security systems, even commercial systems in Banking, retail and Transportation sectors are also high users of Security Systems Market, mainly to secure the data (personal and sensitive customer information) for banking and Finance. Due to the technological advancements, the retail industry is actively moving off the brick and mortar and largely focusing on the internet to face the threats of data theft, warehouse security and logistics. All these factors are constructively posing as important factors driving the market for security systems to evolve more in the coming years.
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Security Systems Market. The growth sectors of the Security Systems Market are identified with precision for a better growth perspective.
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Major Top Market Players:
The security system also encompasses some of the foremost and diversified key players. They are FLIR systems (US), Bosch security systems (Germany), Brocade communication systems Inc (US), Cisco systems Inc (US), Symantec Corporation (US), ASSA Abloy (Sweden), Honeywell International, Inc (US), ADT Corporation (US), and Fortinet (US).
Security Systems Market Segmentation:
As per the study, the global market of security systems has been segmented by the elements of deployment, product, and end – user.
- In terms of deployment: Commercial security and industrial security are the segments. Among which, the industrial security is further divided into Large and SME’s. Out of these, commercial security market occupies the larger market share in globally as compared to the industrial security systems.
- In terms of product: Hardware and software solutions are the segments.
- In terms of end-user: Transportation, commercial, industrial, retail, banking & finance, aerospace & defense are the segments.
Security Systems Market Regional Framework:
Geographically, the security system market has been majorly studied among the regions of North America, Europe, Asia Pacific and Rest of the world.
Of North America, the United States is the leading region in terms of industrial security as it has been recorded with maximum usage of radar systems and access control management as well as early adoption of industrial automation. These factors have been the prime factors driving the market in this region. Also, highly advanced Aerospace & defense industry has also emerged as highly notable factor that impacted the market in the coming years.
On the other side, countries like, Germany, France, UK and Sweden in the European continent are following the trails of United States, as the market here is also booming at a rapid pace.
While in the Asia pacific region, major emerging economies like China, India and Japan are investing more in defense and automation in industries like retail, Banking & Finance and Transportation. These factors are booming the market for security systems market in a considerable way.
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Security Systems Market
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
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List of Tables
Table 1 Security Systems, By Product
Table 2 Security Systems, By Deployment
Table 3 Security Systems, By End User
List of Figures
Figure 1 Research Methodology
Figure 2 Global Security Systems Market, By Product (%)
Figure 3 Security Systems Business, By Deployment (%)
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