The security systems market is growing at a positive rate including the wireless and electronic security systems. This is majorly due to emerging economies such as China, India and Japan investing more in defense and automation in industries like retail, Banking & Finance and Transportation. However, North America is the leader in the security system market largely due to the factors like early adoption towards industrial automation and highly advanced Aerospace & defense industry.
The market of Security systems can be bifurcated further by Deployment, Product, End – User and Region. On the basis of Deployment, Security system market can be divided into Commercial security and industrial security. Industrial security can again be divided into Large and SME’s. Out of these, Commercial security market holds the larger market share in global terms compared to the industrial security systems. However, the industrial security is higher when compared in terms of wireless security systems. The commercial security is high due to higher penetration of Internet, digitalization of Retail and Banking & Finance industries and technological advancements in the Transportation sector.
The Security System Market is expected to reach approximately 78.56 USD billion by the end of 2023 with 14.47 % CAGR during the forecasted period from 2017 – 2023.
Major Key Players:
- Cisco systems Inc (US)
- ASSA Abloy (Sweden)
- FLIR systems (US)
- Bosch security systems (Germany)
- ADT Corporation (US)
- Brocade communication systems Inc (US)
- Honeywell International, Inc (US)
- Symantec Corporation (US)
- Fortinet (US)
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The Security Systems Market is expected to grow at a fast pace over the forecasted period of 2017 -2023. Security systems market is a dynamic and very highly growing market in terms of wireless industrial security, electronic security, smart devices (smart cards, smart locks and alarms), connected home security and Asset tracking. This study encompasses the security concerns against the illegal activities is moving a major trend towards electronic and wireless security. More and more devices being connected under IoT and enablement of remote connection is another driving factor for Security systems market. Companies in North America are highly concerned for industrial automation resulting in prone to cyber-attacks.
The Security system market is majorly segmented into four regions namely North America, Europe, Asia Pacific and Rest of the world. Of North America, United States is the leader in terms of industrial security having usage of radar systems, access control management. This is due to the factors like early adoption towards industrial automation and highly advanced Aerospace & defense industry. Germany, France, UK and Sweden in the European continent are following the trails of United States. 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.
For the purpose of this study, Market Research Future has segmented the market of Industrial Cyber Security into product, solutions, industries, organization size and region.
- Software solutions
- Commercial security
- Industrial Security
End – User:
- Banking & Finance
- Aerospace & Defense
- North America
- Asia pacific
- Rest of the world.
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- Device manufacturers
- Network Security providers
- Research firms
- Software investors
- Software Developers
- IT enablers
- Wireless security system service providers
- Security Agencies
- Security Equipment Providers
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