Security Market Growth & Trends

The global security market size is anticipated to reach USD 167.12 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 10.3% during the forecast period. The adoption of security systems is increasing as they offer high-quality surveillance with optimized distortion. A rise in illegal activities across the globe coupled with stringent government regulations has led to a surge in the adoption of security systems.

Increasing competition in the market, owing to the introduction of advanced technologies, is driving the need for automation in organizations at various levels. In addition, the growing number of infrastructures across the globe has resulted in increased demand for safety systems such as access control systems and video surveillance systems for real-time monitoring. As a result, the demand for security systems is anticipated to rise over the forecast period.

The video surveillance systems segment led the market in 2018. The rising use of cameras in various locations, such as airports, railway stations, and ports, for security purposes, is driving the demand for high-quality video cameras that enable effective monitoring. These systems are largely being used by the military and defense sectors for surveillance purposes.

The maintenance and support segment is anticipated to witness substantial growth, owing to the need for regular maintenance, post-installation. The demand for these services is expected to increase over the forecast period. The increasing number of advancements in video capturing is encouraging providers to introduce new updates in minimal time with better quality. This is further creating an opportunity for the growth of the security market.

Governments of various nations such as the U.S. and Canada have initiated the implementation of security systems and are emphasizing cross-border safety. Suppliers are focusing on collaborations with other manufacturers for achieving enhanced product features and improved performance. Advanced systems help effectively monitor the surrounding activities with optimized power consumption.

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