Hospital Security Systems Market Size, Share, Growth Analysis, By Product(Access Control Systems (Smart Cards, Readers, Biometric Systems {Fingerprint Recognition Systems, Facial Recognition Systems), By Service(System Design, Installation, Integration, Other Services), By Surveillance System(Video Surveillance, Surveillance Cameras), By Application(Surgical Equipment, Medical Devices), By End-User(Hospital, Clinics), By Region - Industry Forecast 2024-2031


Report ID: SQSG20O2002 | Region: Global | Published Date: February, 2024
Pages: 165 |Tables: 160 |Figures: 78

Hospital Security Systems Market Insights

Global Hospital Security Systems Market size was valued at USD 98 billion in 2019 and is poised to grow from USD 115 billion in 2023 to USD 405.6 billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).

The healthcare business has succumbed to the pressures of rising security hazards throughout the world, with hospitals being the primary target since they are the most easily accessed properties and their infrastructure is valuable to a wide range of criminals. According to the International Association for Healthcare Security & Safety's crime and security trends survey, 154 gunshots were reported within health care institutions countrywide between 2011 and 2020. According to the poll, more than 98 percent of all health-care institutions in the United States "experience violent and criminal occurrences." Hospitals have a unique problem in balancing security and safety while still delivering care and medical services under financial limits. This has resulted in a surge in the market for hospital security systems in an effort to deliver great treatment to patients while also providing safety and security to employees and visitors.

The growing need for healthcare providers to comply with state and federal laws, as well as the need to protect healthcare facilities from theft, assault, and other criminal activities, as healthcare organisations deal with sensitive issues and patient information, are driving the growth of this market. The huge increase in demand for integrated solutions for security, facilities, and data management as a result of hospitals' dwindling margins presents further growth potential for the hospital security systems industry. However, the expensive cost of these systems, cyber security issues, a lack of awareness in developing nations, and inadequate training programmes for the security and safety of these systems are limiting the market's growth.

Intrusion detection, video surveillance, access control, and emergency communication systems are all part of these systems. The hospital security systems market is being pushed by severe industry rules for patient and information protection, the growing threat of bioterrorism, an increase in patient and staff assaults, and increased demand for better security systems. The worldwide security systems market has reaped considerable potential from the healthcare sector, owing to the healthcare industry's strong expansion in recent years and a rising requirement within the healthcare industry to provide improved asset protection.

US Hospital Security Systems Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 98 billion

Largest Segment

System Design

Fastest Growth

System Design

Growth Rate

17.4% CAGR

Global Hospital Security Systems Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Hospital Security Systems Market Segmental Analysis

Global Hospital Security Systems market is segmented based on Product, Service, Surveillance System, Application, End-User, and Region. Based on Product the market is segmented into Access Control Systems (Smart Cards and Readers, Biometric Systems {Fingerprint Recognition Systems, Facial Recognition Systems, Iris Recognition Systems, Radio Frequency Identification Systems, Others (OTP and Speech Recognition Systems)}, Cipher Locks, Wireless Locks), Infant Security Systems, Intrusion Detection Systems, Duress/Emergency Notification Systems, Video Surveillance Systems, Video Analytics Solutions, License Plate Recognition Systems, Virtual Fencing Systems, Vehicle Inspection Systems (Portable, Permanent), Vehicle Tracking Systems, Fire Safety Systems. By Surveillance System, the market is segmented into Video Surveillance, Surveillance Cameras. By Application, the market is segmented into Surgical Equipment, Medical Devices. By end user,  the market is segmented into Hospital, Clinics. Based on Service, the market is segmented into Clinical Pathology, Bacteriology, Virology, Parasitology, Other Services. Based on region the global Hospital Security Systems market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Hospital Security Systems Market Analysis by Service

In 2021, The System Design segment has dominated the market and is expected to maintain its dominance over the forecast year. The implementation of the Affordable Care Act, which requires healthcare facilities and their security technologies to be highly integrated and capable of providing quality of care and patient satisfaction to accommodate an increased flow of people into the system, as well as requiring security technologies that comply with the legislation, is credited for this healthy growth rate. Other important reasons driving the expansion of this market are quick technology advancements in the industry, rising crime rates and physical security hazards, and regulatory compliances for excellent patient care.

Global Hospital Security Systems Market By Service, 2021 (%)

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Hospital Security Systems Market Regional Insights

North America dominates more than one-third of the hospital security systems industry. In this area, the revenue for the hospital security systems market is significant. The United States is the region's largest contributor, with top leaders. The presence of significant players and the rising use of security in healthcare organisations are the primary contributors to market growth. The industry is being fuelled by increased expenditure in security and technological progress. Furthermore, market expansion is attributed to better healthcare infrastructure. In addition, the release of novel devices to protect data in the healthcare business is adding to market growth.

Due to rising internet use and penetration in the healthcare industry, the market for hospital security in Asia Pacific is expected to grow at a profitable CAGR of 20.1% over the forecast period. Furthermore, the growing digitization and acceptance of Electronic Health Records (EHRs), wireless medical devices, and telemedicine is driving market expansion. Furthermore, rising cyber-attacks in the area will drive market expansion throughout the projection period. For instance, in February 2021 Trend Micro, a Japanese multinational cyber security software business, unveiled its Trend Micro Vision One enhanced detection and response platform.

Global Hospital Security Systems Market By Geography, 2022-2028
  • Largest
  • Fastest

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Hospital Security Systems Market Dynamics

Hospital Security Systems Market Driver

  • An Increase in Cyber-Attacks and Regulatory Policies

The rise in cyber-threat vectors and attacks as a result of inadequate security measures is a major issue for the healthcare industry, and it is expected to drive up adoption of security solutions. This has aided in the establishment of supportive government laws and regulations to protect patient information from data breaches, thereby rewarding healthcare providers who use advanced cyber security solutions to secure their healthcare data. The United States government, for example, enacted "the Health Insurance Portability and Accountability Act (HIPAA)" to encourage healthcare organizations to keep patient data private and confidential. These factors will drive the hospital security market to grow in the coming years.

  • Improved Authentication and Administration of Healthcare Services are Required

Healthcare businesses require strong authentication features to ensure that only authorised workers have access to internal networks or specialised apps. Healthcare businesses have steadily transitioned to multi-factor authentication to avoid the hazards associated with traditional password-based authentication, such as credential theft. In most situations, multi-factor authentication is performed by adding an additional element to the standard username and password. This might be a hardware and software token, biometric authentication, or device authentication. Using authentication processes to reduce the danger of cyber-attacks encourages customers to use appropriate cyber security solutions and protect the whole healthcare infrastructure.

Hospital Security Systems Market Restraint

  • High Initial Cost Is a Key Impediment In The Market For Hospital Security Systems

Costs are a major concern for many health care organisations. Long-term demand for security systems may be impacted by high service maintenance costs. End-users are cautious to use this technology due to the significant investments required. Furthermore, the initial cost might have an adverse effect on the rate of expansion. Furthermore, the installation cost is a limiting issue in the hospital security systems industry. This element may have an impact on the forecasted worldwide revenue rates. The security system is a sophisticated piece of technology. Expert assistance is required for the establishment of these system health amenities. Furthermore, the sector's high-cost requirements may have a negative impact on the hospital security systems market.

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Hospital Security Systems Market Competitive Landscape

Key companies are investing in research and development to launch advanced sensors with specialised features for a wide range of blockchain Service. Furthermore, to strengthen their market position, most well-established companies in the Hospital Security Systems market are focusing their efforts on acquiring new start-ups. The top players are currently focusing on increasing their technological capacity while also expanding their geographical boundaries. Players are constantly investing in the development of sophisticated technology products to acquire a competitive advantage over others in the market, which is projected to fuel the growth of the healthcare cyber security market. For instance, in November 2021, IBM announced the acquisition of ReaQta, a Dutch cyber security threat detection and response business, to expand its cyber security and response capabilities.

Hospital Security Systems Market Top Player's Company Profiles

  • Johnson Controls International PLC
  • Honeywell International Inc.
  • Siemens AG
  • Bosch Security Systems
  • ADT Inc.
  • Axis Communications AB
  • Stanley Black & Decker, Inc.
  • Hikvision Digital Technology Co., Ltd.
  • Allied Universal Corporation
  • G4S plc
  • Tyco Integrated Security LLC
  • Schneider Electric SE
  • Securitas AB
  • Avigilon Corporation
  • Nedap N.V.
  • Pelco, Inc.
  • Salient Systems Corporation
  • FLIR Systems, Inc.
  • Genetec Inc.
  • Verint Systems Inc.

Hospital Security Systems Market Recent Development

  • In September 2022, Oracle announced that MySQL HeatWave is now accessible on Amazon Web Services (AWS). MySQL HeatWave is the only solution that integrates OLTP, analytics, machine learning, and machine learning-based automation into a single MySQL database. AWS customers can now run transaction processing, analytics, and machine learning workloads in the same service, eliminating the need for time-consuming ETL duplication between separate databases like Amazon Aurora for transaction processing, Amazon Redshift or Snowflake on AWS for analytics, and SageMaker for machine learning.
  • In September 2022, Axon, the global leader in connected public safety solutions, announced today that Wellstar Health will provide de-escalation tools and training, as well as TASER 7 energy devices, to hospital security personnel across its network of Georgia hospital sites.

Hospital Security Systems Key Market Trends

  • The growing number of data breaches in the business fuels the market for hospital security. According to IBM's Cost of a Data Breach Report issued in 2021, the average cost of data breaches in the healthcare industry in 2021 was USD 9.23 million. In addition, the Secretary of the United States Department of Health and Human Services (HHS) Breach of Unsecured Protected Health Information List listed approximately 592 breaches of unsecured protected patient data that affected more than 500 individuals in the previous two years and are being investigated by the Office for Civil Rights.
  • Medical data is ten to twenty times more valuable than credit card or banking information, making healthcare an appealing target for hackers. In addition, the current digital revolution of healthcare has increased the frequency of cyber-attacks. For example, the recent cyber assaults on Ireland's Department of Health and Health Service Executive (HSE) were impacted by a human-operated 'Conti' ransomware attack, which badly crippled numerous HSE systems and forced the shutdown of the bulk of the HSE's other systems. These above mentioned elements are propelling the hospital security industry forward.

Hospital Security Systems 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.

According to our analysis, we found that North America dominates more than one-third of hospital security systems. Hospital security systems generate substantial money in this field. The US is the region's leading donor. Significant players and growing security in healthcare organisations drive market expansion. Increased security and technology spending fuels the business. Better healthcare infrastructure also drives market growth. Novel gadgets to secure healthcare data also boost the industry. The requirement for healthcare providers to comply with state and federal regulations and secure healthcare facilities from theft, assault, and other illegal activities is driving the expansion of this industry. As hospitals' margins shrink, demand for integrated security, facilities, and data management solutions rises, boosting the hospital security systems market. The high cost of these systems, cyber security risks, a lack of knowledge in underdeveloped nations, and inadequate training programmes hinder the market's growth.

Report Metric Details
Market size value in 2023 USD 98 billion
Market size value in 2031 USD 405.6 billion
Growth Rate 17.4%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Access Control Systems (Smart Cards, Readers, Biometric Systems {Fingerprint Recognition Systems, Facial Recognition Systems, Iris Recognition Systems, Radio Frequency Identification Systems, Others (OTP, Speech Recognition Systems)}, Cipher Locks, Wireless Locks), Infant Security Systems, Intrusion Detection Systems, Duress/Emergency Notification Systems, Video Surveillance Systems, Video Analytics Solutions, License Plate Recognition Systems, Virtual Fencing Systems, Vehicle Inspection Systems (Portable, Permanent), Vehicle Tracking Systems, Fire Safety Systems
  • Service
    • System Design, Installation, Integration, Other Services
  • Surveillance System
    • Video Surveillance, Surveillance Cameras
  • Application
    • Surgical Equipment, Medical Devices
  • End-User
    • Hospital, Clinics
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
  • Johnson Controls International PLC
  • Honeywell International Inc.
  • Siemens AG
  • Bosch Security Systems
  • ADT Inc.
  • Axis Communications AB
  • Stanley Black & Decker, Inc.
  • Hikvision Digital Technology Co., Ltd.
  • Allied Universal Corporation
  • G4S plc
  • Tyco Integrated Security LLC
  • Schneider Electric SE
  • Securitas AB
  • Avigilon Corporation
  • Nedap N.V.
  • Pelco, Inc.
  • Salient Systems Corporation
  • FLIR Systems, Inc.
  • Genetec Inc.
  • Verint Systems Inc.
Customization scope

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  • Region

Historical Year 2019

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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 Hospital Security Systems 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
  • 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 Hospital Security Systems 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
  • 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
  • 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(%)

Methodology

For the Hospital Security Systems 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 Hospital Security Systems 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 Hospital Security Systems Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Hospital Security Systems 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.

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FAQs

Hospital Security Systems Market size was valued at USD 98 billion in 2019 and is poised to grow from USD 115 billion in 2023 to USD 405.6 billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).

Key companies are investing in research and development to launch advanced sensors with specialised features for a wide range of blockchain Service. Furthermore, to strengthen their market position, most well-established companies in the Hospital Security Systems market are focusing their efforts on acquiring new start-ups. The top players are currently focusing on increasing their technological capacity while also expanding their geographical boundaries. Players are constantly investing in the development of sophisticated technology products to acquire a competitive advantage over others in the market, which is projected to fuel the growth of the healthcare cyber security market. For instance, in November 2021, IBM announced the acquisition of ReaQta, a Dutch cyber security threat detection and response business, to expand its cyber security and response capabilities. 'Johnson Controls International PLC', 'Honeywell International Inc.', 'Siemens AG', 'Bosch Security Systems', 'ADT Inc.', 'Axis Communications AB', 'Stanley Black & Decker, Inc.', 'Hikvision Digital Technology Co., Ltd.', 'Allied Universal Corporation', 'G4S plc', 'Tyco Integrated Security LLC', 'Schneider Electric SE ', 'Securitas AB', 'Avigilon Corporation ', 'Nedap N.V.', 'Pelco, Inc.', 'Salient Systems Corporation', 'FLIR Systems, Inc.', 'Genetec Inc.', 'Verint Systems Inc.'

An Increase in Cyber-Attacks and Regulatory Policies

The growing number of data breaches in the business fuels the market for hospital security. According to IBM's Cost of a Data Breach Report issued in 2021, the average cost of data breaches in the healthcare industry in 2021 was USD 9.23 million. In addition, the Secretary of the United States Department of Health and Human Services (HHS) Breach of Unsecured Protected Health Information List listed approximately 592 breaches of unsecured protected patient data that affected more than 500 individuals in the previous two years and are being investigated by the Office for Civil Rights.

North America dominates more than one-third of the hospital security systems industry. In this area, the revenue for the hospital security systems market is significant. The United States is the region's largest contributor, with top leaders. The presence of significant players and the rising use of security in healthcare organisations are the primary contributors to market growth. The industry is being fuelled by increased expenditure in security and technological progress. Furthermore, market expansion is attributed to better healthcare infrastructure. In addition, the release of novel devices to protect data in the healthcare business is adding to market growth.

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