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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Security Market Growth
There is a growing demand for security systems that incorporate artificial intelligence (AI) to meet the needs of smart home solutions. During 2022, the number of smart homes in North America expanded by 12.0% year-on-year. By 2027, around 88.1 million homes in North America are expected to be smart, equal to 58% of all homes in the region.
One of the factors driving the security market demand is the commercial sector, where efficient security systems like alarms and video surveillance are vital to safeguard customers and staff from theft and crime. By 2027, the global commercial real estate market is projected to reach USD 12.6 trillion.
Security Market Report Snapshots
Security Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global security market value was USD 377.38 billion.
The market is expected to grow at a CAGR of 7.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 688.57 billion by 2032.
The major drivers include increase in cyber attacks, development of industrial sector, and CCTV adoption in prominent economies globally.
The key trends include the growth in smart city projects along with smart home adoption.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The systems of security available are access control systems, intrusion detection systems, video surveillance systems, and barrier systems, amongst others.
Major applications include government, residential, transportation, commercial, industrial, and others.
By service, the market is categorised into system integration and consulting, risk assessment and analysis, managed security services, and maintenance and support.
The major players in the market include ATG Access Limited, Barrier1 Systems, LLC, Cias Elettronica Srlare, Perimeter Protection Germany GmbH, Delta Scientific Corporation, Hangzhou Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co. Ltd., ASSA ABLOY AB, and Motorola Solutions, Inc.
The different types of security include equipment and services.
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