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Worldwide Security Solutions Market forecasts on
regional growth, industry players and more: Global
Market Insights Inc.
The Security Solutions Market trends are analyzed from recent past with an eye on
coming years in this report that also offers projections for Security Solutions industry
targeted at helping in business decisions.
Security Solutions Market size is anticipated to witness growth during the forecast
period owing to the growing necessity to protect property and individuals from
increasing threats. Increasing consumer awareness regarding prevailing security
concerns is expected to drive security solutions market growth for the next eight years.
The design of sophisticated and efficient systems, in addition to user-friendly
installation features, enabled by wireless technology is anticipated to boost the market
growth. Furthermore, adoption of IoT-based systems and remote monitoring using
mobile devices are expected to provide impetus to security solutions market growth.
The high cost of maintenance and large initial investments are expected to restrain the
market growth. Lack of awareness regarding technological advancements is expected
to challenge security solutions market growth. Furthermore, the low adoption rate is
expected to challenge manufacturers.
The security solutions market is segmented on the basis of the type of solutions and
the end-use industry. The system, by type, is classified into products and services.
The products include fire protection, thermal cameras, video surveillance, wireless
systems, access control, intruder alarms, and entrance control. The services include
security systems integration, access control services, remote monitoring, video
surveillance, and fire protection services.
Fire protection systems segment is anticipated to lead the security solutions market
during the forecast time frame. Some of the major systems included under this type
are sprinklers, fire alarms, and extinguishers. Increasing use of fire protection systems
in residential and industrial buildings is expected to drive the market. Roving patrol
systems are a preferred option to provide security to vast stretches of land such as
huge housing societies or large manufacturing companies. These systems are
economical and provide visible presence, GPRS tracking, quick response, and active
On the basis of end-use industry, the security solutions market is segmented into retail,
residential, commercial, transportation, BFSI, education, government, industrial,
healthcare, and energy & utilities. The commercial end-use segment is expected to
hold the largest market share, owing to increasing instances of theft of physical and
data/information property and the growing need to protect people & property. The
corporate organizations are increasingly investing in these systems to protect
employees and sensitive data. For instance, biometric or access control systems are
used in server rooms of large corporations that deal with critical & sensitive data.
The wireless systems are projected to grow at a high CAGR. These types of systems
can improve interactive monitoring services. These can be remotely and easily
operated. Residential premises are being increasingly equipped with technological
platforms to enable the occupants to remotely access electronic devices using tablets,
smartphone, and laptops. These include intruder alarm systems, medical alert
systems, intercom systems, access control & management systems, video
surveillance systems, and integrated systems. Growing use of these systems for
residential security is projected to propel security solutions market growth.
North America is expected to dominate the global security solutions market. Most of
the residential and commercial buildings in this region are equipped with fire protection
systems, owing to stringent fire and safety protection norms. Several manufacturers
in this region offer different systems such as flame detectors, fire detectors, sprinklers,
heat detectors, fire alarms, extinguishers, sirens, fire analysis software, and control
panels & interfaces.
Asia Pacific is anticipated to be the region of the fastest growth owing to high
infrastructure growth in railways, airports, and highways. Strong growth in banking and
financial services is expected to provide ample growth opportunities for security
solutions market for the next eight years.
Some of the key security solutions market participants include ASSA ABLOY AB,
Zhejiang Dahua Technology Co., Ltd., Bosch Security Systems, Axis Communications
AB, Honeywell International, Inc., Stanley Security Solutions, Tyco International Ltd.,
SECOM Co., Ltd., UTC Fire & Security, Hikvision Digital Technology Co., Ltd., ADT
Corp., Alarm.com, Nortek Security & Control LLC., Godrej & Boyce Manufacturing
Company Ltd., Ingersoll Rand Solutions, Allegion, and Control4.
The security solutions market ecosystem comprises manufacturers & suppliers, R&D
firms, software solutions providers, wearable product manufacturers, and end users.
The manufacturers are increasingly integrating and consolidating the products to
multiple functionalities. For instance, the property management system provides
security to multiple nodes in the same location. These players are adopting different
strategies to achieve a strong position and penetration in the security solutions market.
In the global security solutions market, the number of players is growing, making it
important for manufacturers in gaining a competitive advantage over others. The
strategies adopted include mergers & acquisitions and new product developments.
For instance, Securitas developed a strategy to develop solutions specific to
customers. This helps in retaining the existing customers for a long period through
contract extensions. In November 2015, Stanley Security Solutions announced a
partnership with iView Now, a cloud-based video verification service. This partnership
strengthened Stanley’s position as a video alarm monitoring services provider.
Companies in the security solutions market are continuously investing in technological
innovations to gain a competitive edge. For instance, Bosch launched a new videobased fire detection system. AVIOTEC IP Starlight 8000 is a unique and scientifically
tested device that spots fire and predicts behavior to speed up the reaction time and
reduce occurrences of false alarm.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy and
Corporate Sales, USA
Global Market Insights, Inc.
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