Security Solutions Industry Analysis 2019 To 2023

Market Synopsis:
global security solutions market is expected to register 10.73% CAGR over the assessment period
2018 to 2023.
The growing threat of cyberattacks has led to rapid advancements in security solutions. It has
been unfolded in Market Research Future (MRFR)’s report that the observation reveals that the
market’s valuation is set to increase to USD 410.27 Bn by 2023 up from USD 222.52 Bn in 2017.
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These solutions offer protection to physical as well as software-based data of the organizations.
Rising cases of data theft are likely to boost the adoption of the product over the next couple of
years. The trend is expected to benefit the growth of the security solutions market in the years to
come. Also, the innovations being introduced by the major participants are anticipated to drive
the expansion of the security solutions market across the review period.
Increasing residential applications for the protection of physical infrastructure is further poised
to reflect on the proliferation of the global market in the nearby future. However, on the other
hand, the high cost of installation remains an impediment to market growth.
Top Key Players
Honeywell International, Inc. (US), Godrej & Boyce Manufacturing Company Limited (India), Tyco
International Ltd (US), Bosch Security Systems (Germany), Hikvision Digital Technology Co. Ltd
(China), ASSA ABLOY AB (Sweden), ADT Corp(US), UTC Fire & Security (US), Nortek Security &
Control LLC (US), and SECOM Co., Ltd (Japan) are few of the major players of the global security
solutions market.
Competitive Dashboard:
A detailed analysis of the key developments and market shares of these players is included in the
report. These players are assessed to invest in technological advancements in the years to come
for staying ahead of the curve. In addition, efforts directed towards the expansion of global
footprint is further anticipated to motivate competitiveness among the key players. Some of the
approaches poised to be witnessed in the competitive landscape of the security solutions market
are mergers & acquisitions, agreements, product portfolio development, research &
development, collaborations, etc.
Industry News:
September 17, 2018: Airtel Digital TV partners with Irdeto for security solutions:
Bharti airtel partnered with Irdeto for securing all the contents offered on DTH-platform, Airtel
Digital TV. Irdeto deploy its security solutions to secure content offered on Airtel’s hybrid
Android TV platform and to secure the linear channels offered on set top box.
September 11, 2018: Policy Bazaar signs up for Trend Micro’s cloud security solutions: Policy
Bazaar partnered with Trend Micro for protecting cloud applications and endpoints. Trend
Micro provides deep security which enables the management of multiple security controls from
a single dashboard.
In September 2019, Netatmo, a French company specializing in connected objects, has
announced the launch of a smart alarm system that comprises three key components - windows
and door sensors, a camera, plus a 'smart siren'.
In September 2019, Boundary, a home security technology specialist, has raised £1.22 Mn for
the launch of its innovative smart home security alarm.
Security Solutions Market - Segmentation
Based on product, the market is segmented into entrance control, intruder alarm, wireless
systems, thermal cameras, video surveillance, access control, fire control, and others.
Based on components, the market is segmented into remote monitoring services, fire protection
services, video surveillance services, access control services, security systems integration, and
others.
Based on end-users, the market is segmented into commercial, industrial, energy & utility,
transportation, retail, BFSI, education, residential, government, and others.
Based on region, the market is segmented into North America, Europe, Asia Pacific and rest of
the world
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solutions-market-2481
Regional Analysis:
The global security solutions market, by region, is segmented into North America, Asia Pacific
(APAC), Europe, and the Rest of the World (RoW). The regional assessment of the market is
further studied on a country-level basis for detailed analysis. North America is assessed to retain
its pole position in the global marketplace through the forecast period. Implementation of laws
mandating the deployment of fire protection and security solutions is prognosticated to ensure
the accelerated growth pace of the regional market in the upcoming years. Also, the rising number
of construction projects is expected to boost the residential application of the product in the years
to come. This, in turn, is likely to propel the proliferation of the security solutions market over
the evaluation period.
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