Security solutions Market Size, Revenue, Growth Rate Analysis and Forecast 2022
Security Solutions Market – Overview
Global security solutions market is expected to grow from USD 222.52 billion in 2017 to USD 410.27 billion by 2023, at a compound annual growth rate (CAGR) of 10.73% during the forecast period Security Solutions Industry Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Security Solutions Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities According to Market Research Future Security Solutions Market
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Security in information technology (IT) is the protection of IT assets and digital information against internal & external and accidental threats. There are mainly two types of security; physical security, and information security. Information security is further segmented into application security, cloud security, endpoint security, internet security, and mobile security. Physical security includes protection of hardware, software, personnel, and networks. Physical security often includes employee access controls to the building and specific locations such as data centers. The growing necessity to protect individuals as well as assets from rapidly evolving cyber threats is one the major factor driving the security solutions market. Increasing awareness among consumers regarding security concerns and their willingness to spend on security systems are some of the other drivers boosting the growth of this market. However, high cost of installation & maintenance is hampering the growth of this market. Proliferation of smart city initiatives across the globe is paving the way for growth opportunities in this market. One of the significant challenges faced by service providers is to maintain privacy of information through secure passwords and effective cyber security measures. Key market players such as Honeywell International, Inc., Tyco International Ltd, Godrej & Boyce Manufacturing Company Limited and Bosch Security Systems are focusing on the adoption of the latest technologies and implementing tactical and effective business strategies to widen their consumer base and geographical presence. the growth of security solutions is attributed to its capability of supporting different segments of security system such as intrusion, emergency notification and access control among others. Security solutions market study aims at estimating the market size and future growth potential of the market across different segments such as product, service, end-user, and region.
Security Solutions Market Key players:
The prominent players in the security solutions market are – Honeywell International, Inc. (US), Tyco International Ltd (US), Godrej & Boyce Manufacturing Company Limited (India), Bosch Security Systems (Germany), ASSA ABLOY AB (Sweden), Hikvision Digital Technology Co. Ltd. (China), ADT Corporation (US), Nortek Security & Control LLC (US), Cisco Systems Inc., and UTC Fire & Security (US) among others.
Security Solutions Market – Segmentation
Based on product, the market is segmented into entrance control, intruder alarm, wireless systems, thermal cameras, video surveillance, access control, fire control, and others.
Based on components, the market is segmented into remote monitoring services, fire protection services, video surveillance services, access control services, security systems integration, and others.
Based on end-users, the market is segmented into commercial, industrial, energy & utility, transportation, retail, BFSI, education, residential, government, and others.
Based on region, the market is segmented into North America, Europe, Asia Pacific and rest of the world
Security Solutions Industry News
September 17, 2018: Airtel Digital TV partners with Irdeto for security solutions:
Bharti airtel partnered with Irdeto for securing all the contents offered on DTH-platform, Airtel Digital TV. Irdeto deploy its security solutions to secure content offered on Airtel’s hybrid Android TV platform and to secure the linear channels offered on set top box.
September 11, 2018: Policy Bazaar signs up for Trend Micro’s cloud security solutions: Policy Bazaar partnered with Trend Micro for protecting cloud applications and endpoints. Trend Micro provides deep security which enables the management of multiple security controls from a single dashboard.
Security Solutions Market Regional analysis
The global security solutions market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of security solutions market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
North America accounts for the largest market share majorly due to the mandatory fire protection and safety regulations in this region. Additionally, high demand for home security solutions due to increasing number of construction activities in the residential sector is enhancing the growth of this market in this region. This demand is further prompted by increasing rate of terrorist and criminal actions in the region. Asia-Pacific is expected to be the fastest growing region as it has witnessed economic development in terms of infrastructure in areas of airports, railways, and highways.
Asia-Pacific is expected to dominate the security solutions market during forecast period. China, Japan, South Korea are expected to dominate the Asia-pacific market during forecast period. Robust growth in the financial and banking service sectors and rising economic development in terms of infrastructure (airports, railways, and highways) are expected to boost the security solutions market in Asia-Pacific.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
LIST OF TABLES
Table 1 Global Security Solutions Market, By Region, 2018–2023
Table 2 North America: Security Solutions Market, By Country, 2018–2023
Table 3 Europe: Security Solutions Market, By Country, 2018–2023
Table 4 Asia Pacific: Security Solutions Market, By Country, 2018–2023
Table 5 The Middle East & Africa: Security Solutions Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Security Solutions Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Security Solutions Market
FIGURE 4 Value Chain Of Global Security Solutions Market
FIGURE 5 Share Of Global Security Solutions Market In 2017, By Country (In %)
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