The design of efficient and sophisticated security systems with user-friendly installation features enabled by wireless technology is the key factor fuelling the growth of the market. Furthermore, availability of remote monitoring with proper insurance policies is expected to boost the market over the forecast period. Whereas, large initial investment and cost of maintenance of the equipment along with lack of awareness regarding technological enhancements are hampering the market.
It is the defense of digital information and IT assets against internal and external threats. Defense includes detection, prevention and response to threats using policies, software tools and IT services. Increasing consumer awareness & security concerns, willingness to invest for security systems, growing demand for the use of wireless technology in security systems and adoption of IoT-based security systems are majorly driving the growth of the market.
According to MRFR, The Security System Integrators Market is estimated to grow at a CAGR of 10% during the Forecast Period 2017-2023. The wireless systems are not only easy to install but it helps to improve the interactive monitoring services of a system and can be remotely operated which makes it easy to use.
Although the on-premise deployment of security system is more secure and reduces the risk of cyber threats, there is a more adoption and deployment of cloud services. In the U.K, the cloud adoption rate has reached nearly 85%, including the security system integration. Also, the pricing strategy of the cloud is more flexible than of on-premise, and hence becomes a prime factor for the small enterprises to adopt these services easily.
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Major Key players:
Setronics Corporation (U.S.),
Cisco Systems, Inc. (U.S.),
FireEye, Inc. (U.S.),
Hewlett Packard Enterprise Development LP (U.S.),
International Business Machines Corporation (U.S.),
McAfee, LLC (U.S.),
Accenture BCR (Ireland),
Cognizant Technology Solutions Corporation (U.S.),
Deloitte Touche Tohmatsu Limited (U.S.),
HCL Technologies Limited (India),
Wipro Limited (India),
CIPHER Security LLC (U.S.), Integrity360 (Ireland), Vandis, Inc. (U.S.), Anchor Technologies, Inc. (U.S.), and Innovative Solutions Co (Saudi Arabia)
Other vendors include Symantec Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), Sophos Group Plc (U.K), Check Point Software Technologies Ltd (Israel), RSA Security LLC (U.S.), Kaspersky Lab (Russia), Carbon Black, Inc (U.S.), F-Secure Corporation (Finland), Veracode, Inc. (U.S.), WhiteHat Security (U.S.), Akamai Technologies, Inc (U.S.) and others.
On the basis of organization size, the Security System Integrators market is segmented into small and medium enterprises, and large enterprises. Among these, the large enterprises are having the highest market and are expected to dominate the segment during the forecast period. This growth is mainly due to the ability of enterprises to invest large amounts in cloud deployment, application security, and mostly the network security. On the other hand, the small and medium enterprises are slowly adopting these security systems, due to budgetary restraints.
On the basis of vertical, the market is segmented into energy, retail, banking, manufacturing, hospitality, government, IT & telecommunication, aerospace & defense, and others. The government sector along with public sector integration of IT infrastructure is expected to grow at a fast rate due to increasing number of cyber threats and attacks. These industrial verticals possess a lot of sensitive customer data and also are dedicated to provide rapid customer service, for which there is a strong need of network and application security.
North America, at present holds the largest market share of security system integrators market and is expected to continue dominating by the end of forecast period. Europe is closely following North America in terms of growth rate. Europe and North America are advanced regions in terms of technology and its adoption. Many small, medium and large enterprises are providing their services in these regions and across the globe. As the IT sector is highly dominant in countries like the U.S., there is a strong need in terms of security. Many enterprises and government agencies are moving their services, data, and processes to cloud which is resulting in an additional risk of data loss and security threat.
The major factors adding to the growth of Europe market is the strict government regulations and policies regarding the data transmission. However, Asia Pacific, at present, is slowly adopting these services and has occupied third spot in the market. This growth is expected to increase, by the mid of forecast period, due to more adoption of cloud services and development in IT infrastructure.
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- Security System Integrators providers
- IT providers
- Software vendors
- Retail vendors
- Cloud service providers
- Local/Government Agencies
- Cloud Infrastructure Agencies
- Value-added Resellers
- Research Firms