What Has Been the Growth of the Security Market So Far?
The security market has seen considerable growth due to a variety of factors.
• The significant expansion in the security market size over the recent years is notable. The robust growth is expected to take the market from a formidable $135.82 billion in 2024 to an impressive $147.62 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.7%.Factors contributing to this historic growth pattern include heightened awareness, urbanization growth, rising cyber threat levels, expansion of global business operations and international tourism, and the broadening scope of businesses and infrastructure.
What Is the Forecasted Market Size and Growth Rate for The Security Market Size In The Coming Years?
The security market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the security market size is anticipated to witness good growth. It is projected to reach $204.35 $ billion by 2029, with a compound annual growth rate (CAGR) of 8.5%.
Factors such as the growth of smart infrastructure, the escalating usage of cloud services, demand for all-in-one security solutions, the broadening of the critical infrastructure sector, and the rise in remote work contribute to this growth during the forecast period. Market trends within this period encompass AI and machine learning, extended detection and response, cybersecurity for IoT, security automation, and the formulation of new security protocols.
What Factors Are Driving Growth In The Security Market?
The rise in terrorism is anticipated to boost the expansion of the security market in the future. Terrorism, characterized by the utilization of violence or intimidation particularly towards civilians, aims to fulfill political, ideological, or religious objectives. The escalation of terrorism is attributed to aspects such as political instability, extremist ideologies and socioeconomic grievances triggering violence and unrest. Security measures effectively deter terrorism by averting attacks via surveillance, intelligence collection, and robust infrastructure. To illustrate, the Global Terrorism Index 2023, issued by the Institute for Economics and Peace, an Australian research and education organization, reported in March 2023 that terrorist attacks have grown increasingly deadly, with an average of 1.7 fatalities per incident, an increase from 1.3 fatalities per attack in 2021. Consequently, the upsurge in terrorism is fostering the expansion of the security market.
What Are The Main Segments Of The Global Security Market?
The securitymarket covered in this report is segmented –
1) By System: Access Control Systems, Alarms And Notification Systems, Intrusion Detection Systems, Video Surveillance Systems, Barrier Systems, Other Systems
2) By Service: System Integration And Consulting, Risk Assessment And Analysis, Managed Services, Maintenance And Support
3) By End User: Government, Military And Defense, Transportation, Commercial, Industrial, Other End Users
Subsegments:
1) Access Control Systems: Card-Based Systems, Biometric Systems, Keypad Systems
2) Alarms And Notification Systems: Intruder Alarms, Fire Alarms, Emergency Notification Systems
3) Intrusion Detection Systems: Motion Sensors, Glass Break Detectors, Perimeter Sensors
4) Video Surveillance Systems: CCTV Cameras, IP Cameras, Video Management Software
5) Barrier Systems: Automatic Gates, Bollards, Turnstiles
6) Other Systems: Cybersecurity Solutions, Monitoring Services, Security Management Software
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What Trends Are Reshaping The Future Of The Security Market?
In the security market, leading companies are introducing innovative products like AI-powered motion sensors to improve the detection and response to threats. These advanced motion sensors utilize artificial intelligence to increase precision in motion detection, anticipate movements, and adjust to different environmental situations for more accurate and smart surveillance. For example, SimpliSafe, a home security company based in the US, introduced a groundbreaking feature in June 2023 known as 24/7 Live Guard Protection aimed at thwarting crime in real-time. Enabled by a smart alarm wireless indoor security camera, this feature enables monitoring agents to interact visually and vocally with intruders using a two-way audio system. If an alarm is set off, agents can ask for a safeword or tell the intruder to depart. If the safeword is wrong, or the intruder doesn't obey, the agent will immediately alert the police.
Who Are the Key Players In The Security Market?
Major companies operating in the security market are:
• Honeywell International Inc.
• Johnson Controls
• Thales Group S.A.
• ASSA ABLOY AB
• Anixter Inc.
• Teledyne FLIR LLC
• Juniper Networks Inc.
• Zhejiang Dahua Technology Co. Ltd.
• NortonLifeLock Inc.
• Ameristar Perimeter Security USA Inc.
• McAfee LLC
• Axis Communications AB
• Kaspersky Lab
• Senstar Technologies Corporation
• ATG Access Ltd.
• Delta Scientific Corporation
• Frontier Pitts Ltd.
• Perimeter Protection Group
• CIAS Elettronica Srl
• Barrier1 Systems LLC
• ZABAG Security Engineering GmbH
• Avon Barrier Corporation Ltd.
• Apex Perimeter Protection LLC
• EL-Go Team
What Is The Most Dominant Region In The Security Market?
North America was the largest region in the security market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
