USD 194 billion
Global Commercial Security System Market Size, Share, Growth Analysis, By Hardware(Fire Protection, Video Surveillance), By Service(System Integration, Remote Monitoring), By Software(Fire Analysis, Video Surveillance Software), By Application(Healthcare, Commercial) - Industry Forecast 2024-2031
Report ID:
SQMIG20O2010 |
Region:
Global |
Published Date: April, 2024
Pages:
195
|
Tables:
129 |
Figures:
74
Global Commercial Security System Market Insights
Global Commercial Security System Market size was valued at USD 194 billion in 2022 and is poised to grow from USD 211.27 billion in 2023 to USD 417.88 billion by 2031, growing at a CAGR of 8.9% in the forecast period (2024-2031).
Security systems used to safeguard and secure commercial spaces are known as commercial security systems. These systems are made up of different hardware and software components that provide complete protection of all commercial assets. Advancements in security technologies and the integration of artificial intelligence to bolster the efficiency of commercial security systems are key factors that are estimated to bolster market growth across the forecast period. The growing use of threat analysis software, the use of advanced video surveillance technology, and the rising popularity of IP (internet protocol) cameras are also key factors that will foster innovation in the commercial security system marketplace going forward.
Advancements in camera technology and growing use of artificial intelligence to improve the efficacy of security systems are also slated to create new opportunities for commercial security system providers over the coming years. However, high initial costs of implementation and data security concerns are projected to be key constraints limiting commercial security system market growth potential. Companies can work on these restraints to unlock the full growth scope of the market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Fire Protection Systems
Fastest Growth
Video Surveillance
Growth Rate
8.9% CAGR
Global Commercial Security System Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Commercial Security System Market By Hardware ($ Bn)
Global Commercial Security System Market By Hardware (%)
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Global Commercial Security System Market Segmental Analysis
The global commercial security system market is segmented based on hardware, service, software, application, and region. In terms of hardware, the market is segmented into fire protection, video surveillance, access control, entrance control, and others. Based on service, the market is segmented into system integration, remote monitoring, access control service, and others. In terms of software, the market is divided into fire analysis, video surveillance software, access control software, and others. Based on application, the market is divided into IT & telecommunication, industry, healthcare, transportation & logistics, aerospace & defense, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Hardware
Fire protection systems account for a huge chunk of the global commercial security system market share across the forecast period. Increasing implementation of stringent fire safety mandates for commercial infrastructure around the world is slated to bolster the growth in this segment going forward. Active and passive fire protection systems are being used to provide the best fire protection for commercial infrastructure.
Meanwhile, the demand for video surveillance is projected to increase at a rapid pace over the coming years. Advancements in camera technology have bolstered the importance of video surveillance in commercial as well as residential spaces, which is why this segment is slated to expand at a rapid pace. Integration of advanced IP cameras with behavior analysis software and predictive analytics software is opening new opportunities in the commercial video surveillance space.
Analysis by Service
System integration services are forecasted to account for a sizeable chunk of the global commercial security system marketplace. Increasing deployment of advanced security systems and growing integration of new security solutions with traditional ones are estimated to bolster the demand for system integration services over the coming years. The advent of artificial intelligence and advanced analytics is also estimated to bolster the growth in this segment going forward.
Demand for remote monitoring services is predicted to surge at a rapid pace over the coming years. Growing adoption of advanced technologies has led to the popularity of remote monitoring in different industry verticals and this is also true for the security system space as well. Increasing focus on decentralization of security will also bolster the demand for remote monitoring in the long run.
Global Commercial Security System Market By Hardware, 2022 (%)
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Global Commercial Security System Market Regional Insights
The Asia Pacific region is estimated to account for a dominant share of the global commercial security system marketplace going forward. Robust investments in infrastructure development and the growing adoption of smart city initiatives in this region are also forecasted to bolster the demand for commercial security systems going forward. Increasing focus on governments in this region to bolster security, implementation of stringent structure safety norms, and rising criminal and terrorist activities in this region are also slated to promote commercial security system sales in the future. China, India, and Japan are slated to lead commercial security system market growth in the Asia Pacific region.
Meanwhile, North America is predicted to hold the second-highest share of the global commercial security system market. Rapid adoption of advanced security technologies and growing investments in the improvement of security are slated to be key factors that drive commercial security system demand in this region. The United States and Canada are estimated to be the top markets for commercial security system suppliers in this region. Efforts of governments to bolster their security and the rising incidence of cyberattacks are also slated to create new opportunities for commercial security system companies in the future.
Global Commercial Security System Market By Region, 2024-2031
- Largest
- Fastest
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Global Commercial Security System Market Dynamics
Drivers
Rising Security Threats
- Growing incidences of vandalism, threats, terrorism, and theft have increased demand for commercial security systems worldwide. Moreover, the increasing threat of cyberattacks is also estimated to bolster the commercial security system market growth going forward.
Advancements in Security Technology
- Security technology has come a long way from just registers and biometrics and moved on to advanced behavior analysis and predictive threat intelligence. Growing acceptance of these advanced security technologies will create new opportunities for commercial security system market growth across the forecast period and beyond.
Restraints
Data Security Concerns
- Commercial security systems can often take away the privacy of individuals to a certain extent and hence their deployment should be done very carefully. Moreover, data security concerns of these systems is also another factor that is slated to slow down commercial security system market growth.
High Initial Investments
- Deploying a commercial security system can be an expensive task as it requires the installation of hardware and integration of the same with software for efficient functioning. This requires skilled labor, which is costly, and increasing costs of advanced commercial security systems also contribute to the high initial investment.
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Global Commercial Security System Market Competitive Landscape
The incorporation of new and advanced technologies will be crucial for the success of new and established commercial security system companies going forward. commercial security system providers should focus on collaborating and partnering with cybersecurity companies to improve their cyber threat protection capabilities. Companies should also focus on improving the interface and usability of their commercial security systems to simplify security for their users. commercial security system market players can also focus on creating affordable and cost-effective security solutions that are affordable for users with all kinds of budgets.
Top Player’s Company Profiles
- Bosch security systems
- Hikvision
- Carrier
- Honeywell International
- Assa Abloy
- Tyco International
- Allegion
- Secom
- Control4
- Siemens
- Godrej & Boyce Manufacturing Company (India)
- Nortek Security and Control
- Axis Communications
- Dahua Technology
- Johnson Controls
- Dormakaba
- ADT
Recent Developments
- zeroRISC, a provider of commercial cloud security, announced that it had raised USD 5 million in seed funding in a round led by Cambridge Angels back in October 2023. The company had plans to use this funding to fast-track the launch of its new OpenTitan commercial cloud security service.
- In March 2023, Securitas Technology, a company focused on providing integrated security systems, was launched. The company intends to redefine commercial security with its expertise.
- Johnson Controls, a leading name in the global security landscape, announced the launch of its new hybrid security panel back in March 2023. The IQ Pro hybrid security panel was specifically launched to improve intrusion detection in commercial buildings and other large public spaces.
Global Commercial Security System Key Market Trends
- Artificial Intelligence and Analytics: Commercial security system companies should focus on improving the efficacy of their products by incorporating advanced analytics and artificial intelligence. AI can help automate repetitive tasks and continually keep the security system in check without the margin of human error. Meanwhile, the integration of advanced analytics could also create new opportunities for commercial security system providers in the long run.
Global Commercial Security System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, surging focus on security around the world and increasing availability of advanced security systems are projected to primarily bolster the demand for commercial security systems across the forecast period. The growing incidence of threats, thefts, and cyberattacks is also estimated to bolster the sales of commercial security systems over the coming years. However, the high initial costs of deployment are forecasted to be a key constraint for commercial security system demand outlook in the long run. Rapid investments in infrastructure development and a growing focus on security make the Asia Pacific regional market the largest one in the world. Companies are focusing on the integration of advanced analytics and artificial intelligence to improve the efficacy of their commercial security systems.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 194 billion |
| Market size value in 2031 | USD 417.88 billion |
| Growth Rate | 8.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Commercial Security System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Commercial Security System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Commercial Security System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Commercial Security System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Commercial Security System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Commercial Security System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Commercial Security System Market Report Snapshots
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