Security Solutions World Markets to 2024: Massive Opportunities to Arise in the Integration of AI & Deep Learning in Home Security Systems and Proliferation of Smart City Initiatives Worldwide

DUBLIN, Dec. 18, 2019 /PRNewswire/ -- The "Security Solutions Market by Offering (Products (Fire Protection, Video Surveillance, Access Control) and Services (System Integration, Remote Monitoring, Fire Protection, VSaaS, ACaaS)), Vertical, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The overall security solutions market was valued at USD 233.5 billion in 2018 and is projected to reach USD 397.6 billion by 2024; it is expected to grow at a CAGR of 9% during the forecast period.

The demand for security systems has increased because of the requirement to protect individuals and assets from rapidly increasing threats and rising consumer awareness and security concerns and willingness to pay for security systems. Security products such as fire protection systems, video surveillance systems, access control systems, audible horns and sirens, wireless keypads, and smart door locking devices can help in monitoring and controlling the entry of an unauthorized person into the restricted area.

Biometric systems such as fingerprint and face scanners are especially used for criminal identification because of increasing criminal activities and robbery. The use of CCTV cameras is helpful in keeping the track of entry and exit at public places such as railway stations, commercial malls, swimming pools, and hospitals.

The competitive landscape provides the market size of the key players in the security solutions market. Key industry players such as ADT (US), Honeywell International Inc. (US), Johnson Controls (US), Robert Bosch (Germany), Hikvision Digital Technology Co., Ltd. (China), Dahua Technology Co., Ltd (China), Axis Communications AB (Sweden), SECOM CO. LTD (Japan), United Technologies (US), ASSA ABLOY (Sweden), Siemens (Germany), and Halma (US) have been profiled in this report.

Reasons to Buy the Report

1. This report segments the security solutions market comprehensively and provides the closest approximations of the overall market's size, as well as that of the subsegments across different offerings, verticals, and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, product launches, product developments, agreements, acquisitions, collaborations, and partnerships in the security solutions market.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Security Solutions Market
4.2 Security Solutions Product Market in APAC, By Vertical and Country
4.3 Security Solutions Market, By Offering
4.4 Security Solutions Market for Video Surveillance Systems, By Offering
4.5 Geographic Analysis of Security Solutions Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Crime Rates and Terrorist Activities Globally
5.2.1.2 Increasing Consumer Awareness and Security Concerns and Willingness to Pay for Security Systems
5.2.1.3 Surging Demand for Deployment of Wireless Technology in Security Systems
5.2.1.4 Ongoing Development in Wireless Fire Detection Systems
5.2.1.5 Escalating Demand for Do-It-Yourself and Spy Cameras
5.2.2 Restraints
5.2.2.1 High Installation, Operational, and Maintenance Costs
5.2.3 Opportunities
5.2.3.1 Integration of AI and Deep Learning in Home Security Systems
5.2.3.2 Proliferation of Smart City Initiatives Worldwide
5.2.3.3 Adoption of Access Control as a Service
5.2.3.4 Implementation of Mobile-Based Access Control
5.2.3.5 Inclination Toward Video Surveillance as a Service
5.2.3.6 Technological Advancements in Big Data, Video Analytics, IoT, and Cloud-Based Services
5.2.4 Challenges
5.2.4.1 Complexity of Security Systems
5.2.4.2 Security Concerns Related to Unauthorized Access and Data Breach in Access Control Environment
5.2.4.3 Requirement for High-Capacity Storage Systems and Higher Bandwidth
5.2.4.4 Amalgamation of User Interfaces With Fire Protection Solutions
5.3 Value Chain Analysis

6 Security Solutions Market, By Offering
6.1 Introduction
6.2 Security Products
6.2.1 Fire Protection Systems
6.2.1.1 Fire Detection Systems
6.2.1.1.1 Flame Detectors
6.2.1.1.1.1 Growing Usage of Flame Detectors in Indoor Applications Across Verticals has Boosted Growth of This Market.
6.2.1.1.2 Smoke Detectors
6.2.1.1.2.1 Growing Residential Sector Demands Photoelectric Smoke Detectors
6.2.1.1.3 Heat Detectors
6.2.1.1.3.1 Heat Detectors are Best Suited for Fire Detection in Small Confined Spaces Where Rapidly Growing and High-Heat-Output Fires May Be Expected
6.2.1.2 Fire Suppression Systems
6.2.1.2.1 Fire Suppression Systems Expected to Hold Largest Share During Forecast Period
6.2.1.3 Fire Sprinkler Systems
6.2.1.3.1 Fire Sprinkler Systems are Increasingly Being Used in Smart Buildings and Homes
6.2.1.4 Fire Analysis Systems
6.2.1.4.1 Fire Mapping and Analysis Software
6.2.1.4.1.1 Fire Mapping and Analysis Software Helps Decision Makers to Efficiently and Quickly Make Decisions During Fire-Related Situations
6.2.1.4.2 Fire Modeling and Simulation Software
6.2.1.4.2.1 Fire Modeling and Simulation Software is Used By Agencies to Train Firefighters
6.2.1.5 Fire Response Systems
6.2.1.5.1 Fire Response Systems to Hold Second-Largest Size of Fire Protection Systems Market During Forecast Period
6.2.2 Video Surveillance Systems
6.2.2.1 Hardware
6.2.2.1.1 Cameras
6.2.2.1.1.1 IP Cameras are Expected to Continue to Dominate Video Surveillance Camera Market
6.2.2.1.2 Monitors
6.2.2.1.2.1 Growing Use of Lcd and Led Monitors in Video Surveillance Systems
6.2.2.1.3 Storage Devices
6.2.2.1.3.1 Market for Storage Devices is Expected to Grow at Highest CAGR During Forecast Period
6.2.2.1.4 Other Accessories
6.2.2.2 Software
6.2.2.2.1 Video Analytics
6.2.2.2.1.1 Video Analytics Market Expected to Grow at Higher CAGR During Forecast Period
6.2.2.2.2 Video Management Software
6.2.2.2.2.1 Video Management Software Expected to Hold Larger Share During Forecast Period
6.2.3 Access Control Systems
6.2.3.1 Hardware
6.2.3.1.1 Card-Based Readers
6.2.3.1.1.1 Magnetic Stripe Readers
6.2.3.1.1.2 Proximity Card Readers
6.2.3.1.1.3 Smart Card Readers
6.2.3.1.2 Biometric Readers
6.2.3.1.2.1 Fingerprint Recognition
6.2.3.1.2.2 PALM Recognition
6.2.3.1.2.3 IRIS Recognition
6.2.3.1.2.4 Facial Recognition
6.2.3.1.2.5 Voice Recognition
6.2.3.1.3 Multi-technology Readers
6.2.3.1.4 Electronic Locks
6.2.3.1.4.1 Electromagnetic Locks
6.2.3.1.4.2 Electric Strike Locks
6.2.3.1.4.3 Smart Locks
6.2.3.1.5 Controllers
6.2.3.1.6 Others
6.2.3.2 Software
6.2.4 Entrance Control Systems
6.2.4.1 Market for Entrance Control Systems for Pedestrians in APAC to Grow at Highest CAGR During Forecast Period
6.2.5 Intruder Alarms
6.2.5.1 Rising Number of Burglaries and Crimes has Increased Demand for Intruder Alarms
6.2.6 Thermal Cameras
6.2.6.1 Thermal Cameras are Being Implemented By American Government and Law Enforcement Agencies in Many Public Places, Such as Airports, Malls, Railway Stations, and Tunnels, for Public Security
6.3 Services
6.3.1 Security Systems Integration
6.3.1.1 Security System Integration Services to Occupy Largest Share of Security Solutions Market During the Forecast Period
6.3.2 Remote Monitoring Services
6.3.2.1 Remote Monitoring Services to Witness Highest Growth in Europe
6.3.3 Fire Protection Services
6.3.3.1 Engineering Services
6.3.3.1.1 Need for Guidelines on Fire Safety Measures and Ways to Prevent Fire Accidents Drives Demand for Engineering Services
6.3.3.2 Installation and Design Services
6.3.3.2.1 Growing Commercial and Industrial Verticals Boost Requirements for Installation and Design Services
6.3.3.3 Maintenance Services
6.3.3.3.1 Necessity of Timely Maintenance and Inspection of Fire Protection Systems Surge Demand for Maintenance Services
6.3.3.4 Managed Services
6.3.3.4.1 Managed Services Ensure Security of Business Information and Smooth Functioning of Business Operations
6.3.3.5 Other Services
6.3.4 Video Surveillance Services
6.3.4.1 Video Surveillance as A Service
6.3.4.1.1 Remote Management of Recording, Storing, Viewing, and Monitoring Surveillance Videos From Other Locations Driving Demand for Video Surveillance as A Service
6.3.4.2 Installation and Maintenance
6.3.4.2.1 Inspection, Repair, and Planned Maintenance of Video Surveillance Systems Surge Demand for Installation and Maintenance Services
6.3.5 Access Control Services
6.3.5.1 Installation and Integration
6.3.5.1.1 Growing Implementation of Security Solutions to Increase Demand for Installation and Integration Services
6.3.5.2 Support and Maintenance
6.3.5.2.1 Periodical Upgrading of Access Control Software and Hardware to Drive Demand for Installation and Integration Services
6.3.5.3 Access Control as A Service
6.3.5.3.1 Rising Use of Mobile Devices as Authentication Checkpoints and Increasing Number of Connected Devices Driving Demand for Access Control as A Service

7 Security Solutions Market, By Vertical
7.1 Introduction
7.2 Commercial
7.2.1 Installation of Security Systems Minimizes Risk of Any Security Breach in Data Centers, Banking Buildings, and Hospitality Centers Among Others
7.3 Residential
7.3.1 Security Solutions Market for Residential Vertical to Grow at Highest CAGR During Forecast Period
7.4 Government
7.4.1 Demand for Fire Protection Services and Access Control Systems From Government-Owned Businesses and Various Government Institutions Drives Market Growth
7.5 Transportation
7.5.1 Transportation Requires Security Systems Due to Life Safety and Security Challenges Faced By This Sector
7.6 Retail
7.6.1 Rise in Number of Retail Shops and Malls in Urban Areas Drives Market Growth
7.7 Banking & Finance
7.7.1 Need for High Security in Banking Sector to Boost Market During Forecast Period
7.8 Education
7.8.1 Installation of Fire Protection Systems Minimizes Risk of Any Fire Hazard in Educational Or Academic Buildings
7.9 Industrial
7.9.1 Industrial Vertical is Adopting Security Solutions to Provide Secure Environment
7.10 Energy and Utility
7.10.1 Increased Need for Energy Generation Proves to Be Great Opportunity for Fire Protection Providers
7.11 Sports and Leisure
7.11.1 Increasing Threat of Terrorism at Stadiums and Playgrounds Boosts Growth of Market for Sports and Leisure Vertical
7.12 Healthcare
7.12.1 Healthcare Vertical has Significant Growth Opportunity for Biometrics Technology
7.13 Military & Defense
7.13.1 Need for High Secure Environment Drives Demand for Security Solutions in Military & Defense Vertical

8 Security Solutions Market, By Geography
8.1 Introduction
8.2 Americas
8.3 Europe
8.4 APAC
8.5 RoW

9 Competitive Landscape
9.1 Overview
9.2 Market Player Ranking Analysis
9.3 Competitive Leadership Mapping
9.3.1 Visionary Leaders
9.3.2 Innovators
9.3.3 Dynamic Differentiators
9.3.4 Emerging Companies
9.4 Strength of Product Portfolio
9.5 Business Strategy Excellence
9.6 Competitive Scenario
9.6.1 Product Launches, Product Developments, and Expansions
9.6.2 Agreements, Acquisitions, Collaborations, and Partnerships

10 Company Profiles
10.1 Introduction
10.2 Key Players
10.2.1 Johnson Controls
10.2.2 Honeywell International Inc.
10.2.3 Robert Bosch
10.2.4 ADT
10.2.5 Hikvision
10.2.6 Dahua Technology Co. Ltd.
10.2.7 Axis Communications AB
10.2.8 Secom Co. Ltd.
10.2.9 United Technologies
10.2.10 Assa Abloy
10.3 Right to Win
10.4 Other Key Players
10.4.1 Siemens
10.4.2 Halma
10.4.3 Hochiki Corporation
10.4.4 Dormakaba Holding AG
10.4.5 Flir Systems, Inc.
10.4.6 Allegion PLC
10.4.7 Nortek Security and Control
10.4.8 Godrej & Boyce Mfg. Co. Ltd.
10.4.9 Alarm.Com
10.4.10 Avigilon
10.4.11 Dallmeier Electronic GmbH & Co. KG
10.4.12 Stanley Convergent Security Solutions, Inc.
10.4.13 Gunnebo AB
10.4.14 Control4 Corporation
10.4.15 Minimax Viking

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