Global Box Security Market – Industry Trends and Forecast to 2029

Box Security Market Analysis and Size

As the IT infrastructure of these businesses undergoes rapid changes, hackers are devising new methods to hack secure information by causing disruptions in network security systems. The use of box security is likely to alleviate this problem. Due to the technological advancements, box security systems have evolved in recent years. These systems were mostly used to prevent and detect intrusions at critical infrastructure, military sites, and other high-security locations.

Data Bridge Market Research analyses that the box security market was valued at USD 6.37 billion in 2021 and is expected to reach the value of USD 15.11 billion by 2029, at a CAGR of 11.40% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Box Security Market Scope and Segmentation

Market Definition

Any activity designed to protect the usability and integrity of your network and data is referred to as box security. Network security consists of multiple layers of defence at the network's edge and within the network. Policies and controls are implemented at each network security layer. Authorized users can access network resources, but malicious actors cannot carry out exploits or threats.

Global Box Security Market Dynamics

Drivers

• Rising need for security solutions due to growing automation

Major driver of the box security industry is the need to reduce workforce. Automated processes also reduce the number of manually checked checkpoints. End-use industries such as oil, petrochemical, electrical, and other hazardous industries will see an increase in demand in the near future. It is common for real-time security solutions to include computer programming, artificial intelligence, remote control, and semiconductors and electronics. The high level of production and operational complexity in the inspection drone market encourages technical cooperation among market participants. Stakeholders will need to invest more in R&D to maintain their competitive advantage. Security solutions help the market by allowing manufacturers to keep up with the growing level of automation in their facilities.

• High prevalence of cybercrimes and cyber attacks

The rise of digitalization, cybercrime, cyberattacks, and cyber espionage campaigns are the major factors driving the growth of the box security market. The growing demand for cloud computing by SMEs in their processes and operations is due to potential benefits such as ease of access, quick deployment, low IT infrastructure requirement, and low installation cost, which will drive the demand for box security market over the forecast period. The demand for cloud-based services has increased due to the COVID-19 pandemic, which has forced enterprises worldwide to adopt cloud services to a large extent due to the work-from-home scenario.

Opportunities

• Huge development on cutting edge technologies

Verticals such as government, military and defence, correctional facilities, transportation, critical infrastructure, commercial, and industrial are using advanced box security solutions to protect their network from sophisticated breaches. Traditional box security platforms have been replaced by more sophisticated box security platforms thanks to cutting-edge technologies such as AI, ML, computer vision, and facial recognition. In addition to increasing efficiency, these cutting-edge systems have compelled manufacturers to create brand-new, highly sophisticated box security measures.

Restraints

• Security risk

However, among other things, increased initial deployment costs and a lack of technical expertise and security skills will limit market growth and further challenge the box security market during the forecast period.

This box security market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the box security market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Box Security Market

The reliance on homeland security and law enforcement agencies has grown significantly as a result of the COVID-19 pandemic. Critical infrastructure security, emergency services, and other organisations are relying on box security solutions to provide essential services to their customers. The pandemic has significantly increased reliance on homeland security and law enforcement organisations, vital infrastructure security, emergency services, and others, all of which are using box security solutions to provide essential services to customers. Although many people now work from home, box security is clearly important for infrastructure, airports, data centres, and other high-end applications. Many regional governments are currently focusing their efforts on strengthening their defence and security infrastructure.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures

Recent Developments

• In 2019 Honeywell collaborated with Intel Corporation to improve security system products. Honeywell incorporated Intel Vision products into its MAXPRO Network Video Recorders (NVR) and Video Management Systems (VMS) as part of this collaboration, enabling advanced analytics, deep learning, and facial recognition capabilities.
• In 2020 Honeywell introduced the Pro-Watch Integrated Security Suite, a software platform designed to help protect people and property. It provides full visibility of all connected systems and integrates access control, video surveillance, intrusion detection, and other business-critical functions into a single user interface. It enables businesses to gain complete situational awareness of their security system in order to protect people, property, and assets. This factor is expected to improve the company's product portfolio.

Global Box Security Market Scope

The box security market is segmented on the basis of security type, service model, organization size, vertical, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Security type

• Perimeter Security
• Network Security
• Endpoint Security
• Application Security
• Others
• Policy Management
• Operations
• Monitoring
• Response

Service model

• IaaS
• PaaS
• SaaS

Vertical

• Information
• Finance and Insurance
• Healthcare and Social Assistance
• Retail Trade
• Manufacturing
• Utilities
• Others
• Transportation and Warehousing
• Arts, Entertainment, and Recreation
• Educational Services

Organization size

• Large enterprises ‘
• Small and medium enterprises

Application

• Visibility and Risk Assessment
• User and Data Governance
• Activity Monitoring and Analytics
• Threat Protection and Remediation/ Mitigation
• Other Applications
• Disaster Recovery Management
• Business Continuation

Box Security Market Regional Analysis/Insights

The box security market is analysed and market size insights and trends are provided by country, security type, service model, organization size, vertical, and application as referenced above.

The countries covered in the box security market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominated the overall market share. The region is expected to grow significantly over the forecast period due to an increase in enterprise spending on information security solutions. The regional market is being driven by the increasing adoption of mobility devices in various sectors such as government and defence, as well as retail.

Asia-Pacific is expected to grow at the fastest rate during the forecast period. Growing smartphone users, advancements in mobile device technologies, and advanced network connectivity in the region are some of the key factors predicting an increase in mobile security challenges. Furthermore, government digitization initiatives and thriving digital transaction apps are resulting in malware and phishing attacks on mobile devices. As a result, individuals and businesses are gradually pacing their efforts to adopt security solutions for their portable devices.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Box Security Market Share Analysis

The box security market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to box security market.

Some of the major players operating in the box security market are:

• American Science and Engineering, Inc. (U.S.)
• Axis Communications AB (Sweden)
• Teledyne FLIR LLC (U.S.)
• Bosch Sicherheitssysteme GmbH (Germany)
• Honeywell International Inc, (U.S.)
• Dahua Technology Co., Ltd (China)
• Avigilon Corporation (Canada)
• Hangzhou Hikvision Digital Technology Co. Ltd. (China)
• Pelco (U.S.)
• Thales (France)
• Johnson Controls (Ireland)
• Fiber Sensys Inc, (U.S.)
• Arthur J. Gallagher & Co. (U.S.)
• Senstar Corporation. (Canada)
• Ingersoll Rand (U.S.)
• The Infinova Group. (China)
• SOUTHWEST MICROWAVE, INC. (U.S.)
• Puretech Systems (U.S.)

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