The global security solutions market has been segmented into wireless systems, entrance control, video surveillance, intruder alarms, fire protection, thermal cameras and others. These segments are majorly used in home security solutions and are anticipated to grow at highest CAGR during the forecast period. Further, the market is witnessing high preference for high-tech security solutions such as remote monitoring, fire alarm systems and security system integration among others. This factor is envisioned to strengthen the growth of global security solutions market.
The global market for security solutions is expected to flourish at a moderate CAGR of around 18% during the forecast period 2018-2027. Factors such as rising sense of security against increased rate of thefts and criminal activities are anticipated to drive the demand for global security solutions market. Further the increasing demand for cost effective and smart security solutions is estimated to boom security solutions market by noteworthy revenue by the end of 2027.
In regional segment, North America represented the largest market for security solutions in year 2017. This can be attributed to rising demand for home security solutions for increasing number of residential construction sites. Moreover, high rate of criminal & terrorist activities is estimated to generate high demand for security solutions making the growth of security solutions market in North America to generate higher CAGR during forecast period. Followed by North America, Latin America, Middle East Africa and Asia Pacific are anticipated to grow in security solution market during forecast period.
Growing Demand for Sense of Security
Growing demand for smart city infrastructures in residential sector has increased home security solutions. Further, the demand for cost effective solutions for home security systems is expected to benefit the expansion of global security solutions market.
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Further, the execution of smart security solutions in government buildings with intelligent security solutions have grown followed by strict government regulations. Also, the growth of security solutions in IT industry for protection against online threats, data leakage and digital information among others is anticipated to exhibit large expansion of sales in the forecast period. This factor is believed to supplement the growth of security solutions market globally.
However, less awareness of security solutions in senior citizens and under-developed nations combined with high cost are likely to inhibit the growth of global security solutions market.
The report titled “Global Security Solutions Market: Global Historical Growth (2013-2017) & Future Outlook (2018-2027) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global security solutions market in terms of market segmentation by product type, by end use industry, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global security solutions market which includes company profiling of Honeywell International, Tyco International, Allegion, Godrej & Boyce, Stanley Security Solutions, Nortek Security & Control LLC, Axis Communications, Control4, UTC Fire & Security and Hikvision Digital Technology.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global security solutions market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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