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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Security Market to reach USD 205.3 billion by the end of 2029

Global Security Market Size study & Forecast, by System (Access Control Systems, Alarms & Notification Systems, Intrusion Detection Systems, Video Surveillance Systems, Barrier Systems, Others) by Service (System Integration & Consulting, Risk Assessment & Analysis, Managed Security Services, Maintenance and Support), by End-Use (Government, Military & Defense, Transportation, Commercial, Industrial, Others) and Regional Analysis, 2022-2029

Product Code: ICTNGT-89210522
Publish Date: 20-03-2023
Page: 200

Global Security Market is valued at approximately USD 110.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.0% over the forecast period 2022-2029. Security is a safe space created around us through advanced technology. The security market includes protecting or maintaining important data, keeping track of commercial and residential activities, and protecting nations from several threats and terrorism. The Security market is adopted majorly in the military & defense end-use industry. Furthermore, Increasing Fraudulent activities, strict government regulations, rising number of terrorists and threats, and enhanced accuracy in the products are the major factors driving the growth of the Security market.

In 2022, A study on global terrorism highlights that terrorism is still a danger for all of us, in Sub-Saharan Africa, there were 48% of total terrorism-related fatalities. Over the past ten years, political terrorism has progressively increased, with 73% of assaults in the West being committed by individuals and groups with political motivations. Terrorism is certainly going to increase in Ukraine. 69 terrorist attacks were reported throughout the nation during the 2014 crisis. The ripple effects of cyberterrorism on other nations are a serious concern. Increasing global terrorism is expected to propel security market growth. Moreover, several businesses and customers have noticed a rise in e-commerce fraud, with 20% of victims in a year. Increasing fraudulent activities are further contributing to the growth of the security market. Another important component driving market increase is enhanced accuracy in the products. Factors such as the rise in the number of Smart Cities and Increasing technological advancements in security are creating major opportunities in the market. However, the high cost of Security stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Security Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of terrorist activities, increasing security development, increasing security needs, and the region’s increasing importance of surveillance Systems. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising investments in safety and security, increasing investments in the development of innovative products, and rising threats, an increase in the number of collaborations for Security development.

Major market player included in this report are:
JOHNSON CONTROLS International Plc

Recent Developments in the Market:
 In December 2022, Johnson Controls acquired CDS integrated security systems and Gem security services.
 In April 2019, Apex Fabrication & Design merged with Nasatka Security in order to become full-service perimeter security Company.
Global Security Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered System, Service, End-Use, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and System offerings of key players. The detailed segments and sub-segment of the market are explained below:
By System:
Access Control Systems
Alarms & Notification Systems
Intrusion Detection Systems
Video Surveillance Systems
Barrier Systems

By Service:
System Integration & Consulting
Risk Assessment & Analysis
Managed Security Services
Maintenance and Support

By End-Use:
Military & Defense
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Security Market, by Region, 2019-2029 (USD Billion)
1.2.2. Security Market, by System, 2019-2029 (USD Billion)
1.2.3. Security Market, by Service, 2019-2029 (USD Billion)
1.2.4. Security Market, by End-Use, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Security Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Security Market Dynamics
3.1. Security Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing Fraudulent activities Strict government regulations
3.1.2. Market Challenges High Cost of Security Systems
3.1.3. Market Opportunities Rise in the number of smart cities Increasing technological developments of security
Chapter 4. Global Security Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario.
Chapter 6. Global Security Market, by System
6.1. Market Snapshot
6.2. Global Security Market by System, Performance – Potential Analysis
6.3. Global Security Market Estimates & Forecasts by System 2019-2029 (USD Billion)
6.4. Security Market, Sub Segment Analysis
6.4.1. Access Control Systems
6.4.2. Alarms & Notification Systems
6.4.3. Intrusion Detection Systems
6.4.4. Video Surveillance Systems
6.4.5. Barrier Systems
6.4.6. Others
Chapter 7. Global Security Market, by Service
7.1. Market Snapshot
7.2. Global Security Market by Service, Performance – Potential Analysis
7.3. Global Security Market Estimates & Forecasts by Service 2019-2029 (USD Billion)
7.4. Security Market, Sub Segment Analysis
7.4.1. System Integration & Consulting
7.4.2. Risk Assessment & Analysis
7.4.3. Managed Security Services
7.4.4. Maintenance and Support
Chapter 8. Global Security Market, by End-Use
8.1. Market Snapshot
8.2. Global Security Market by End-Use, Performance – Potential Analysis
8.3. Global Security Market Estimates & Forecasts by End-Use 2019-2029 (USD Billion)
8.4. Security Market, Sub Segment Analysis
8.4.1. Government
8.4.2. Military & Defense
8.4.3. Transportation
8.4.4. Commercial
8.4.5. Industrial
8.4.6. Others
Chapter 9. Global Security Market, Regional Analysis
9.1. Security Market, Regional Market Snapshot
9.2. North America Security Market
9.2.1. U.S. Security Market System breakdown estimates & forecasts, 2019-2029 Service breakdown estimates & forecasts, 2019-2029 End-Use breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Security Market
9.3. Europe Security Market Snapshot
9.3.1. U.K. Security Market
9.3.2. Germany Security Market
9.3.3. France Security Market
9.3.4. Spain Security Market
9.3.5. Italy Security Market
9.3.6. Rest of Europe Security Market
9.4. Asia-Pacific Security Market Snapshot
9.4.1. China Security Market
9.4.2. India Security Market
9.4.3. Japan Security Market
9.4.4. Australia Security Market
9.4.5. South Korea Security Market
9.4.6. Rest of Asia Pacific Security Market
9.5. Latin America Security Market Snapshot
9.5.1. Brazil Security Market
9.5.2. Mexico Security Market
9.6. Rest of The World Security Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. ASSA ABLOY India Private Limited. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.4. ANIXTER INC.
10.2.6. JOHNSON CONTROLS International Plc.
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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