Security Solutions Market: Industry Analysis and Forecast (2024-2030) by Service, Type, and End use Industry

Security Solutions Market was evaluated at a size of USD 450.03 Billion in 2023 and expected to reach USD 814.25 Billion by 2030 at a CAGR of 8.84% during the forecast period.

Format : PDF | Report ID : SMR_2538

Security Solutions Market Overview:

The COVID 19 pandemic brought about a global change in the awareness amongst the populace about different threats to their security. This was accelerated by the fact that the pandemic saw increased rates of physical and cyber-crimes with global lockdowns and increase in the populace less-adept with IT understanding, spending more time online. Rates of physical crimes such as home robberies and trespassing also saw a substantial spike and led to the implementation of modern security solutions such as IoT enabled locks, CCTV Cameras etc.

Therefore, there was an overall growth in demand for security solutions for commercial, business and personal use. There was a willingness in the population to pay for security systems that would safeguard both their private information as well as physical assets.

The decreased cost of IoT devices led to the use of many non-professional DIY monitoring devices for home security and surveillance. There was an onslaught of End Use Industrys available on mobile platforms that monitored the data of family members within households or separated by a distance through shared platforms.

Security Solutions Market

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Security Systems Market Dynamics:

The Need for Security:

The steadfast adaption of digital payments and increase in online transactions led to increased attacks at the point of transactions as well as wire-fraud and other criminal activity. This pushed the need in the common man to learn about the nuances and vulnerabilities in networks such as spoofing attacks, leading to a sustained overall increase in the need of security solutions even in places where the pandemic has subsided.

The adoption rates, accelerated by the inclusion of cloud-based solutions have opened the gates for many SMEs to enter the market owing to the reduced capitals required to set up the initial infrastructure.

However, the cost of installing these devices is still high, and prevents many potential customers from taking the first step and therefore reduce the market growth. The presence of limited free software attracts the majority of the consumers who are not aware of the importance of the benefits provided by the premium versions.

Development of new Technology:

With the development of new technology in IoT and cloud-based solutions, there is an increased need in the protection of personal assets and information from attacks in order to prevent unauthorised intrusion attacks and access. The subsegment of Access Control Services for infrastructure and security has witnessed the second highest CAGR during the forecast period. The increase in demand for distributed systems security has therefore been the primary driver of ACaaS or Access Control as a Service.

Among the sub-segments of the market, the commercial vertical is expected to continue its dominance by accounting for the largest size. This can be correlated to the growing numbers of cyber-crime, Information security attacks and espionage attacks. The trend of corporates investing in handsomely protecting their information assets and privacy and intellectual property is predicted to sustain even after the pandemic. The implementation of Work From Home environment, with sensitive data being exchanged over public ISP servers invites the need for robust encryption and secured communications.

In the industrial setting, the adaptation of automated warehousing and logistics extends the boundaries of assets that need protection from attacks. With the increased adaption of online payments and digital banks, the banking sector is also investing heavily in the development of secure transaction architectures.

The future of this sector looks at the development of distributed ledger systems and zero-trust networks in the form of Blockchain technologies. With increased number of organizations looking towards trust-less systems for the safeguarding of their information.

New Vulnerabilities and Exploits: The recent onslaught of distributed attacks, such as the NotPetya attack on Maersk, paved the way for off-the-grid backup systems and other hybrid infrastructure security backup methodologies. This was in response to the possibility of worldwide disruption of communications caused because of global malware attacks. Further hybridisation includes on-site and off-site combinations that need to be monitored for intrusions and safeguarded in the event of an attack. Further security analysts need to be trained and best practices for the upgradation of software need to be implemented, needing overall training of Human Resource that is often not trained in Information Technology. Therefore, companies look towards software firms such as Norton, etc for the training of their workforce in these concepts.

Security Systems Market Segment Analysis:

By Type: The Security Solutions market can be segmented into products and services. Services offer for greater numbers than products in the Security Solutions Market. Various services include Cloud Services, Anti-Malware and Intrusion Control Services, Network Monitoring Services etc. Product based services include fire alarms, Remote monitoring services, biometric based locking mechanisms etc.

Security Solutions Market

By Service, Security Solution Market is segmented on the basis of the different services that are provided by the vendors to their customers. For our analysis In the report, we will segment the market with System Integration and Consulting, Risk Assessment and Analysis, Managed Security Services and Maintenance and Support.

System Integration and Consulting forms the major chunk in the Security Solutions Market. These services require professionals that are expert in the required domain in order to optimise the client operations. With the ever-growing chance of cyber-attacks, risk assessment and analysis services help stakeholders get a holistic understanding of the various assets that are held by their organisations and take safety measures to safeguard critical assets. Managed Security Services are turn-key solutions that are offered by firms as packages to implement one-step solutions for organizations. Maintenance and Support services help organizations through technical support and critical maintenance activities such as firmware and security patch updates, vulnerability protection etc.

By End-User Industry: The military defence segment is expected to dominate the category of Security Solutions market during the forecast period. This is because of the growing international security threats. The demand for cameras in institutional correctional facilities such as prisons has increased the demand for the same in the user industry.

The overall growth of the Security Solutions Market for commercial activities is expected in the forecast period. This is because of the growing number of office spaces is growing rapidly, and with that, the number of security solutions associated with it such as CCTV cameras, professional antivirus software, centralised data-backup systems etc.

Security Systems Market Regional Insights:

North America continues to be the largest stakeholder as it is home to a large number of security solution providers. The demographics of the country tends towards early adopters and is therefore the first users of state-of-the-art disruptive technologies such as User Access control, fire protection systems, smart video and network surveillance systems etc.

By Region: The Unites States of America is the largest spender in the Information Security markets with USD 1,928 Billion spent in the year 2023. This is followed by Asia Pacific region where players such as China, India and Japan are having multiple investments in the segment.

Government Funding on Cybersecurity:

With an increase in the number of cyberattacks, governments worldwide have increased their spending on Cybersecurity infrastructure development, as well as the establishment of Cyber Cells that monitor and check online activity for unusual traffic such as human trafficking or wire fraud.

United States of America leads the government funding with an allocation of USD 18.78 Billion in 2023. They have further set up a new agency Cybersecurity Infrastructure and Security Agency (CISA) to further their defence systems against attacks. This is followed by Israel with USD 1.8 Billion and Iran with USD 71.4 Million.

Looking at the changing trends over the years, we can clearly witness that Security Services form the biggest sub-section in the services offered. This is made up largely of free software and includes a broad spectrum of malware protection software and other private and enterprise demo software. This is followed by Infrastructure protection which is the safeguarding of physical assets using technology and is made up largely by the Access Control as a Service framework. This can include RFID based access methods and other online and E-Signature based access methods such as online credential-keeping apps. The development of centralised authenticators has led to the further development of these End Use Industry.

The third largest segment is the Network Security Management. This accounts for the services and software that safeguard various corporate and industrial networks from intrusion and espionage attacks. Within the corporate sector, the leading number of investments are being made in the zero-trust-systems.

The report provides Porter’s Five Forces Model that will aid enterprise decision makers to develop their long-term strategies and marketing positions. It identifies the key competitors, their positioning and how their products perform and are perceived by the customers. Through expert analysts’ opinion, the report provides consultation on the difficulty of entering the market for new players.

Security Systems Market

Further the report provides PESTEL Analysis which will help the company tailor the overall strategies for market activities. The analysis takes into consideration various environmental variables that are crucial for the development of the market position of the company such as government funding and other political variables. Therefore, this analysis helps the stakeholder evaluate the challenges and opportunities in a holistic way.

Security Solutions Market Scope:

Security Solutions Market
Market Size in 2023	USD 450.03 Bn.
Market Size in 2030	USD 814.25 Bn.
CAGR (2024-2030)	8.8%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Service System Integration and Consulting Risk assessment and analysis Managed Security Services Maintenance and Support
	By Type Products Services
	By End User Industry Military Commercial Private
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

Security Solutions Market Key players:

Cisco (US)
Palo Alto Networks (US)
Fortinet (US)
Check Point (Israel)
IBM(US)
ADT (US)
Honeywell International Inc. (US)
Johnson Controls (US)
Robert Bosch (Germany)
Hikvision (China)
Dahua Technology Co., Ltd (China)
Axis Communications AB (Sweden)
SECOM CO. LTD (Japan)
United Technologies (US)
ASSA ABLOY (Sweden)

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Frequently Asked Questions

What is the CAGR of the Security Solutions Market in the forecast period (2024-2030)?

The predicted CAGR is 8.84%.

Which region invests the most in Security Solutions Market?

North America region invests the most in the Security Solutions Market.

1. Security Solutions Market Introduction
1.1. Study Assumption and Market Definition
1.2. Scope of the Study
1.3. Executive Summary

2. Security Solutions Market: Competitive Landscape
2.1. SMR Competition Matrix
2.2. Competitive Landscape
2.3. Key Players Benchmarking
2.3.1. Company Name
2.3.2. Segments
2.3.3. Revenue (2023)
2.4. Leading Security Solutions Market Companies, by Market Capitalization
2.5. Market Structure
2.5.1. Market Leaders
2.5.2. Market Followers
2.5.3. Emerging Players
2.6. Mergers and Acquisitions Details

3. Security Solutions Market: Dynamics
3.1. Market Trends by Region
3.1.1. North America Security Solutions Market Trends
3.1.2. Europe Security Solutions Market Trends
3.1.3. Asia Pacific Security Solutions Market Trends
3.1.4. Middle East and Africa Security Solutions Market Trends
3.2. Market Dynamics by Global
3.3. PORTER’s Five Forces Analysis
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.6. Technological Roadmap
3.7. Regulatory Landscape by Region
3.7.1. North America
3.7.2. Europe
3.7.3. Asia Pacific
3.7.4. Middle East and Africa
3.7.5. South America
3.8. Analysis of Other Schemes and Initiatives for the Security Solutions Industry

4. Security Solutions Market: Global Market Size and Forecast by Segmentation (by Value in USD Billion) (2023-2030)
4.1. Security Solutions Market Size and Forecast, By Type (2023-2030)
4.1.1. Products
4.1.2. Services
4.2. Security Solutions Market Size and Forecast, By Service (2023-2030)
4.2.1. System Integration and Consulting
4.2.2. Risk assessment and analysis
4.2.3. Managed Security Services
4.2.4. Maintenance and Support
4.3. Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
4.3.1. Military
4.3.2. Commercial
4.3.3. Private
4.4. Security Solutions Market Size and Forecast, By Region (2023-2030)
4.4.1. North America
4.4.2. Europe
4.4.3. Asia Pacific
4.4.4. Middle East and Africa
4.4.5. South America

5. North America Security Solutions Market Size and Forecast by Segmentation (by Value in USD Billion) (2023-2030)
5.1. North America Security Solutions Market Size and Forecast, By Type (2023-2030)
5.1.1. Products
5.1.2. Services
5.2. North America Security Solutions Market Size and Forecast, By Service (2023-2030)
5.2.1. System Integration and Consulting
5.2.2. Risk assessment and analysis
5.2.3. Managed Security Services
5.2.4. Maintenance and Support
5.3. North America Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
5.3.1. Military
5.3.2. Commercial
5.3.3. Private
5.4. North America Security Solutions Market Size and Forecast, by Country (2023-2030)
5.4.1. United States
5.4.1.1. United States Security Solutions Market Size and Forecast, By Type (2023-2030)
5.4.1.1.1. Products
5.4.1.1.2. Services
5.4.1.2. United States Security Solutions Market Size and Forecast, By Service (2023-2030)
5.4.1.2.1. System Integration and Consulting
5.4.1.2.2. Risk assessment and analysis
5.4.1.2.3. Managed Security Services
5.4.1.2.4. Maintenance and Support
5.4.1.3. United States Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
5.4.1.3.1. Military
5.4.1.3.2. Commercial
5.4.1.3.3. Private
5.4.2. Canada
5.4.2.1. Canada Security Solutions Market Size and Forecast, By Type (2023-2030)
5.4.2.1.1. Products
5.4.2.1.2. Services
5.4.2.2. Canada Security Solutions Market Size and Forecast, By Service (2023-2030)
5.4.2.2.1. System Integration and Consulting
5.4.2.2.2. Risk assessment and analysis
5.4.2.2.3. Managed Security Services
5.4.2.2.4. Maintenance and Support
5.4.2.3. Canada Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
5.4.2.3.1. Military
5.4.2.3.2. Commercial
5.4.2.3.3. Private
5.4.3. Mexico
5.4.3.1. Mexico Security Solutions Market Size and Forecast, By Type (2023-2030)
5.4.3.1.1. Products
5.4.3.1.2. Services
5.4.3.2. Mexico Security Solutions Market Size and Forecast, By Service (2023-2030)
5.4.3.2.1. System Integration and Consulting
5.4.3.2.2. Risk assessment and analysis
5.4.3.2.3. Managed Security Services
5.4.3.2.4. Maintenance and Support
5.4.3.3. Mexico Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
5.4.3.3.1. Military
5.4.3.3.2. Commercial
5.4.3.3.3. Private

6. Europe Security Solutions Market Size and Forecast by Segmentation (by Value in USD Billion) (2023-2030)
6.1. Europe Security Solutions Market Size and Forecast, By Type (2023-2030)
6.2. Europe Security Solutions Market Size and Forecast, By Service (2023-2030)
6.3. Europe Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
6.4. Europe Security Solutions Market Size and Forecast, by Country (2023-2030)
6.4.1. United Kingdom
6.4.1.1. United Kingdom Security Solutions Market Size and Forecast, By Type (2023-2030)
6.4.1.2. United Kingdom Security Solutions Market Size and Forecast, By Service (2023-2030)
6.4.1.3. United Kingdom Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
6.4.2. France
6.4.2.1. France Security Solutions Market Size and Forecast, By Type (2023-2030)
6.4.2.2. France Security Solutions Market Size and Forecast, By Service (2023-2030)
6.4.2.3. France Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
6.4.3. Germany
6.4.3.1. Germany Security Solutions Market Size and Forecast, By Type (2023-2030)
6.4.3.2. Germany Security Solutions Market Size and Forecast, By Service (2023-2030)
6.4.3.3. Germany Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
6.4.4. Italy
6.4.4.1. Italy Security Solutions Market Size and Forecast, By Type (2023-2030)
6.4.4.2. Italy Security Solutions Market Size and Forecast, By Service (2023-2030)
6.4.4.3. Italy Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
6.4.5. Spain
6.4.5.1. Spain Security Solutions Market Size and Forecast, By Type (2023-2030)
6.4.5.2. Spain Security Solutions Market Size and Forecast, By Service (2023-2030)
6.4.5.3. Spain Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
6.4.5.4. )
6.4.6. Sweden
6.4.6.1. Sweden Security Solutions Market Size and Forecast, By Type (2023-2030)
6.4.6.2. Sweden Security Solutions Market Size and Forecast, By Service (2023-2030)
6.4.6.3. Sweden Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
6.4.7. Austria
6.4.7.1. Austria Security Solutions Market Size and Forecast, By Type (2023-2030)
6.4.7.2. Austria Security Solutions Market Size and Forecast, By Service (2023-2030)
6.4.7.3. Austria Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
6.4.8. Rest of Europe
6.4.8.1. Rest of Europe Security Solutions Market Size and Forecast, By Type (2023-2030)
6.4.8.2. Rest of Europe Security Solutions Market Size and Forecast, By Service (2023-2030)
6.4.8.3. Rest of Europe Security Solutions Market Size and Forecast, By End User Industry (2023-2030)

7. Asia Pacific Security Solutions Market Size and Forecast by Segmentation (by Value in USD Billion) (2023-2030)
7.1. Asia Pacific Security Solutions Market Size and Forecast, By Type (2023-2030)
7.2. Asia Pacific Security Solutions Market Size and Forecast, By Service (2023-2030)
7.3. Asia Pacific Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4. Asia Pacific Security Solutions Market Size and Forecast, by Country (2023-2030)
7.4.1. China
7.4.1.1. China Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.1.2. China Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.1.3. China Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4.2. S Korea
7.4.2.1. S Korea Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.2.2. S Korea Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.2.3. S Korea Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4.3. Japan
7.4.3.1. Japan Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.3.2. Japan Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.3.3. Japan Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4.4. India
7.4.4.1. India Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.4.2. India Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.4.3. India Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4.5. Australia
7.4.5.1. Australia Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.5.2. Australia Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.5.3. Australia Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4.6. Indonesia
7.4.6.1. Indonesia Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.6.2. Indonesia Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.6.3. Indonesia Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4.7. Malaysia
7.4.7.1. Malaysia Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.7.2. Malaysia Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.7.3. Malaysia Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4.8. Vietnam
7.4.8.1. Vietnam Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.8.2. Vietnam Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.8.3. Vietnam Security Solutions Market Size and Forecast, By End User Industry 2023-2030)
7.4.9. Taiwan
7.4.9.1. Taiwan Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.9.2. Taiwan Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.9.3. Taiwan Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
7.4.10. Rest of Asia Pacific
7.4.10.1. Rest of Asia Pacific Security Solutions Market Size and Forecast, By Type (2023-2030)
7.4.10.2. Rest of Asia Pacific Security Solutions Market Size and Forecast, By Service (2023-2030)
7.4.10.3. Rest of Asia Pacific Security Solutions Market Size and Forecast, By End User Industry (2023-2030)

8. Middle East and Africa Security Solutions Market Size and Forecast (by Value in USD Billion) (2023-2030
8.1. Middle East and Africa Security Solutions Market Size and Forecast, By Type (2023-2030)
8.2. Middle East and Africa Security Solutions Market Size and Forecast, By Service (2023-2030)
8.3. Middle East and Africa Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
8.4. Middle East and Africa Security Solutions Market Size and Forecast, by Country (2023-2030)
8.4.1. South Africa
8.4.1.1. South Africa Security Solutions Market Size and Forecast, By Type (2023-2030)
8.4.1.2. South Africa Security Solutions Market Size and Forecast, By Service (2023-2030)
8.4.1.3. South Africa Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
8.4.2. GCC
8.4.2.1. GCC Security Solutions Market Size and Forecast, By Type (2023-2030)
8.4.2.2. GCC Security Solutions Market Size and Forecast, By Service (2023-2030)
8.4.2.3. GCC Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
8.4.3. Nigeria
8.4.3.1. Nigeria Security Solutions Market Size and Forecast, By Type (2023-2030)
8.4.3.2. Nigeria Security Solutions Market Size and Forecast, By Service (2023-2030)
8.4.3.3. Nigeria Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
8.4.4. Rest of ME&A
8.4.4.1. Rest of ME&A Security Solutions Market Size and Forecast, By Type (2023-2030)
8.4.4.2. Rest of ME&A Security Solutions Market Size and Forecast, By Service (2023-2030)
8.4.4.3. Rest of ME&A Security Solutions Market Size and Forecast, By End User Industry (2023-2030)

9. South America Security Solutions Market Size and Forecast by Segmentation (by Value in USD Billion) (2023-2030
9.1. South America Security Solutions Market Size and Forecast, By Type (2023-2030)
9.2. South America Security Solutions Market Size and Forecast, By Service (2023-2030)
9.3. South America Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
9.4. South America Security Solutions Market Size and Forecast, by Country (2023-2030)
9.4.1. Brazil
9.4.1.1. Brazil Security Solutions Market Size and Forecast, By Type (2023-2030)
9.4.1.2. Brazil Security Solutions Market Size and Forecast, By Service (2023-2030)
9.4.1.3. Brazil Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
9.4.2. Argentina
9.4.2.1. Argentina Security Solutions Market Size and Forecast, By Type (2023-2030)
9.4.2.2. Argentina Security Solutions Market Size and Forecast, By Service (2023-2030)
9.4.2.3. Argentina Security Solutions Market Size and Forecast, By End User Industry (2023-2030)
9.4.3. Rest Of South America
9.4.3.1. Rest Of South America Security Solutions Market Size and Forecast, By Type (2023-2030)
9.4.3.2. Rest Of South America Security Solutions Market Size and Forecast, By Service (2023-2030)
9.4.3.3. Rest Of South America Security Solutions Market Size and Forecast, By End User Industry (2023-2030)

10. Company Profile: Key Players
10.1. Cisco (US)
10.1.1. Company Overview
10.1.2. Business Portfolio
10.1.3. Financial Overview
10.1.4. SWOT Analysis
10.1.5. Strategic Analysis
10.1.6. Recent Developments
10.2. Palo Alto Networks (US)
10.3. Fortinet (US)
10.4. Check Point (Israel)
10.5. IBM(US)
10.6. ADT (US)
10.7. Honeywell International Inc. (US)
10.8. Johnson Controls (US)
10.9. Robert Bosch (Germany)
10.10. Hikvision (China)
10.11. Dahua Technology Co., Ltd (China)
10.12. Axis Communications AB (Sweden)
10.13. SECOM CO. LTD (Japan)
10.14. United Technologies (US)
10.15. ASSA ABLOY (Sweden)