Global Commercial Security Market, By Product (Smart Locks, Security Cameras, Sensors), By Type (Intruder Alarms, Software, Access control, Surveillance systems), By End-users (Retail, Healthcare, Banking) - Forecast 2023
Pune, India -- (SBWIRE) -- 05/29/2017 -- Market Highlights - Security solutions are of two type residential and commercial. Commercial security system is basically an electronic device which is connected with wireless technology to protect the property.
The growing demand for security solutions to protect individuals as well as property from threats, increasing consumer awareness & security concerns, adoption of internet of things based security systems and various government regulations are boosting the overall Commercial Security Market. Also, the technological developments in video surveillance and access control management are expected to boost the market over the forecast period, 2017-2023.
The global commercial security market is expected to reach approximately USD 187 billion by the end of 2023 with 10% CAGR during forecast period 2017-2023.
Commercial Security Market Players
- Honeywell International, Inc. (U.S.)
- Tyco International Ltd (U.S.)
- Bosch Security Systems (Germany)
- ASSA ABLOY AB (Sweden)
- Allegion (U.S.)
- Control4 (U.S.)
- UTC Fire & Security (U.S.)
- Godrej & Boyce Manufacturing Company Limited (India)
- Nortek Security and Control (U.S.)
- ADT Security Services (U.S.)
- United Technologies Corporation (U.S.)
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Commercial Security Market
According to Market Research Future, market has been segmented into product, type, end-users and region.
On the basis of type, the market has been segmented into video surveillance, alert system, access control management and intruder alarm systems. Out of these type, access control systems accounted for the largest market share, majorly due to the usage of access control or biometric security systems are used in organizations to protect the sensitive data. Also, these solutions ensure unauthorized access and thus protects property.
Market Research Future Analysis
The global commercial security market is expected to grow significantly over the forecast period, 2017-2023. Access control management of commercial security market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
North America region accounted for the largest market share because of the technological advancements, increasing demand for safety of data and the willingness to pay for security systems. For instance, Security systems North America provides various solutions such as video systems for protection of an organizations data and their employees. Also, most commercial building structures in North-America are fitted with fire protection systems to ensure safety regulations in this region.
Also, over the forecast period the Asia-Pacific region is expected to grow due to the growth of new technological solutions in the developing nations such as China and India.
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- Research firms
- Consultancy firms
- Software Developers
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
The global residential security market is expected to reach approximately USD 63 billion by the end of 2023 with 10% CAGR during forecast period 2017-2023 https://www.marketresearchfuture.com/reports/residential-security-market-2803
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