According to the latest report by IMARC Group, “Global Security Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global security market reached a value of US$ 112.07 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 200.07 Billion by 2027, exhibiting a CAGR of 9.60% during 2022-2027.
Security refers to a system of protection against unauthorized access to organizational assets, such as computers, networks, and data. It plays a pivotal role in the modern business strategy, where a loophole can result in undesirable outcomes like theft and losing customer trust and loyalty. As a result, security helps preserve the integrity and confidentiality of sensitive information by blocking access for hackers.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Security Market Trends and Drivers:
The market is primarily driven by the increasing number of fraudulent activities. Consequently, the installation of security systems prevents malicious threats and potential security breaches. Besides this, the rising application of security systems in various industries is also contributing to the market growth. For instance, health firms nowadays rely on specialized information systems, such as electronic healthcare records (HER), e-prescribing, clinical decision support, and computerized physician order entry.
This increases the need for security from unauthorized access, use, and disclosure. Similarly, information and communication technology (ICT) in the logistics industry has also adopted these systems for transparency, cost-efficacy, and real-time tracking of goods. Moreover, the development of advanced security systems and the growing popularity of online shopping apps are also creating a favorable market outlook.
Global Security Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Ameristar Perimeter Security (Assa Abloy AB), ATG Access Ltd., Avon Barrier Corporation Ltd. (Perimeter Protection Group), Barrier1 Systems LLC, CIAS Elettronica Srl, Delta Scientific Corporation, EL-Go Team, Frontier Pitts Ltd., Honeywell International Inc., Johnson Controls International PLC, Senstar Corporation (Senstar Technologies Ltd.) and Teledyne FLIR LLC (Teledyne Technologies Incorporated).
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The report has segmented the market on the basis of region, system, service and end user.
Breakup by System:
- Access Control Systems
- Alarms and Notification Systems
- Intrusion Detection Systems
- Video Surveillance Systems
- Barrier Systems
Breakup by Service:
- System Integration and Consulting
- Risk Assessment and Analysis
- Managed Services
- Maintenance and Support
Breakup by End User:
- Military and Defense
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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