How Has the Commercial Security Systems Market Size Evolved in Recent Years?
The commercial security systems market has seen considerable growth due to a variety of factors.
• The market size for commercial security systems has seen considerable growth in the past few years. Its value is projected to inflate from $268.19 billion in 2024 to $293.65 billion in 2025, indicating a compound annual growth rate (CAGR) of 9.5%.
The growth experienced during the historical period stems from factors such as enhanced computing power, the emergence of cloud computing, advancements in natural language processing (NLP), the incorporation of IoT devices, and the availability of industry-based applications.
What Are The Predictions for The Commercial Security Systems Market in the Coming Years?
The commercial security systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for commercial security systems is predicted to experience robust growth in the coming years, escalating to $423.05 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 9.6%.
The surge in growth during this forecast period can be linked to the expanding AI talent pool, worldwide roll-out of 5g networks, improved AI explainability, skyrocketing data generation, and the effects of quantum computing. The forecast period will also see major trends such as the standardization of explainable AI, AI-enabled autonomous systems, collaboration between humans and AI, AI-led healthcare solutions, and technological advancements.
Which Drivers Are Accelerating Growth In The Commercial Security Systems Market?
The expanding commercial security systems market is projected to be driven by a rise in instances of fraud losses. These losses are financial damages experienced by individuals, corporations, or institutions due to deceptive activities. Business owners or security staff can remotely supervise and manipulate the commercial security system via mobile applications or online platforms. For example, it was reported by the Federal Trade Commission, a United States-based intergovernmental organization, that consumers faced a loss of approximately $8.8 billion due to fraud in 2022 as of February 2023, marking an over 30% rise from the prior year. Consequently, the escalating events of theft are propelling the growth of the commercial security systems market.
What Are The Core Segments Of The Global Commercial Security Systems Market?
The commercial security systems market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Application: Indoor Or Outdoor Surveillance, Flood Detection Or Protection, Theft Deterrence, Occupancy And People Counting, Other Applications
3) By End-User: Retail, Healthcare, Offices Complex, Banking, Financial Services, And Insurance (BFSI), Government And Education, Other End Users
Subsegments:
1) By Hardware: Surveillance Cameras, Access Control Systems, Intrusion Detection Systems, Alarm Systems, Sensors
2) By Software: Video Management Software (VMS), Access Control Management Software, Security Information And Event Management (SIEM) Software, Incident Management Software
3) By Services: Installation Services, Maintenance And Support Services, Monitoring Services, Consulting Services
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What New Trends Are Influencing The Commercial Security Systems Market?
Companies prominent in the commercial security systems market are adopting cutting-edge technologies such as cloud-based storage and remote monitoring to bolster security for their commercial environments. This type of storage provides the convenience of storing data remotely, facilitating accessibility from diverse devices and locations. This innovation has revolutionized the security sector, simplifying all aspects of security for commercial facilities, residential areas, and education centers. For instance, in August 2023, Casepoint Pvt. Ltd., a software enterprise from India, introduced its cloud-based data storage and staging solution, Casepoint FileStore. This solution empowers organizations to securely store their data, safeguarding it against unauthorized access and potential security breaches.
Who Are the Key Players In The Commercial Security Systems Market?
Major companies operating in the commercial security systems market report are:
• Comcast Corp.
• Robert Bosch GmbH
• Cisco Corporation
• Honeywell International Inc.
• Johnson Controls International PLC
• Carrier Global Corporation
• Hangzhou Hikvision Digital Technology Co. Ltd.
• ASSA ABLOY
• ADT Inc.
• Allegion PLC
• Dormakaba Group
• Dahua Technology Inc.
• Axis Communication AB
• Hochiki Corporation
• Godrej & Boyce Manufacturing Company Limited
• Nortek Security and Control
• Control4
• Aetina Corporation
• ASEC Engineers Inc.
• Tyco International PLC
• ISC Projects Pvt. Ltd.
• Genetec Inc.
• Onyx Company
• Vanderbilt Ltd.
• Amdahl Security Corporation
What Are The Regional Insights Into The Commercial Security Systems Market?
North America was the largest region in the commercial security systems market in 2024. The regions covered in the commercial security systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
