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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Security Market Share
By type, the services segment is expected to hold a significant market share, with rising crime rates driving businesses to invest in security guard services and other solutions
Cybersecurity services are being increasingly deployed with rising number of threats and security breaches. Also, the rise in infrastructure investments is creating a need to safeguard the assets and associated flows, accelerating the demand for security services. As of 2023, physical security market employs over 30 million people globally, majority of which are in guarding services.
Safety equipment includes security cameras, smoke and carbon monoxide detectors, door and window sensors, etc. Security equipment is a key factor in asset protection and for ensuring a safe living and workplace. By the end of 2021, about one billion surveillance cameras were reported to be in function across the globe.
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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