The latest research study “Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global security market size reached US$ 112.07 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 200.07 Billion by 2027, exhibiting a CAGR of 9.60% during 2022-2027.

Security refers to cybersecurity techniques that safeguard organizational assets, including data, computers, and networks, against unauthorized access. It comprises different information technology (IT) security areas, such as cloud, user, network, internet, endpoint, and application. It helps maintain the confidentiality of sensitive information and integrity by blocking access for hackers. As a result, security is gaining immense traction as part of modern business strategies to prevent undesirable outcomes like theft and loss of client trust and loyalty.

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Covid-19 Impact: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The industry is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.

Global Security Market Trends and Drivers: 

The global security market is primarily driven by the rising product demand to prevent malicious threats and potential security breaches, which can negatively impact the financial health of businesses. Moreover, there has been an increase in the reliance of health firms on specialized information systems, such as radiology information, e-prescribing, practice management support, clinical decision support, electronic healthcare records (HER), and computerized physician order entry. In line with this, the rising need for protecting the confidentiality, integrity, and availability of electronic information and assets from unauthorized access, use, and disclosure is positively influencing the market growth.

Additionally, the surging adoption of IT security in the energy sector to meet the emerging needs for uninterrupted power supply has catalyzed market growth. Besides this, the increasing risk of data theft due to the rising use of information and communication technology (ICT) in the logistics industry for cost-efficacy, transparency, and real-time tracking of goods has augmented product demand. Other factors, including the growing popularity of online shopping apps, increasing instances of cybercrime and fraudulent activities, surging adoption of cloud computing, and technological advancements, are also anticipated to propel the market growth.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by System:

• Access Control Systems
• Alarms and Notification Systems
• Intrusion Detection Systems
• Video Surveillance Systems
• Barrier Systems
• Others

Breakup by Service:

• System Integration and Consulting
• Risk Assessment and Analysis
• Managed Services
• Maintenance and Support

Breakup by End User:

• Government
• Military and Defense
• Transportation
• Commercial
• Industrial
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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List of Major Key Players:

The major players in the market are Ameristar Perimeter Security (Assa Abloy AB), ATG Access Ltd., Avon Barrier Corporation Ltd. (Perimeter Protection Group), Barrier1 Systems LLC, CIAS Elettronica Srl, Delta Scientific Corporation, EL-Go Team, Frontier Pitts Ltd., Honeywell International Inc. (NASDAQ: HON), Johnson Controls International PLC (NYSE: JCI), Senstar Corporation (Senstar Technologies Ltd.) and Teledyne FLIR LLC (Teledyne Technologies Incorporated).

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