Global Security Solutions Market is valued approximately USD 281.11 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9.0% over the forecast period 2021-2027.
Security Solutions includes a security system that restricts unauthorized interference and access into the personal, regulatory, and defense premises. This is designed to protect the various types of threats like subversion, fire, accidents, espionage, attacks, and crimes as it notifies the users regarding the incidents. The rising consumer awareness and growing concern regarding security, along with the increasing crime rate and terrorist activities across the globe is fostering the market demand over the forthcoming scenario. For instance, in 2018, the global military expenditure is recorded at USD 1,822 billion, in which the China and USA military accounted for 50% of spendings. Therefore, the increasing investments in military services owing to the rising international terrorist attacks are also augmenting the market growth.
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However,growing needs for high-capacity storage systems and higher bandwidth is likely to impedes the growth of the market over the forecast period of 2021-2027. Also, the incorporation of AI and deep learning in home security systems and penetration of the Access Control as a Service is likely to boost the market growth during the forecast period.
The key regions considered for the global Security Solutions market study includes Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading region across the world in terms of market share owing this region is the pioneer in the implementation of video surveillance for public safety. Whereas, Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2021-2027. Factors such as initiation of the defense modernization programs to safeguard the country, tied with the rising number of international conflicts would create lucrative growth prospects for the Security Solutions market across the Asia-Pacific region.
Major market player included in this report are:
Honeywell International Inc.
Robert Bosch
Johnson Controls
Dahua Technology Co., Ltd
Siemens
Nortek Security & Control
STANLEY Convergent Security Solutions
United Technologies
Minimax Viking
Hochiki Corporation
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
Fire Protection Systems
Video Surveillance Systems
Access Control Systems
Services
By Vertical:
Commercial
Residential
Government
Transportation
Retail
Banking & Finance
Education
Industrial
Energy and Utility
Sports and Leisure
Healthcare
Military & Defense
By Region:
North America
U.S.
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Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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