Global Commercial Security Systems Market, By Product (Smart Locks, Security Cameras, Security Alarms, & Sensors), Solution (Surveillance System, Access Control Management, & Intruder Alarms), End-Users (Retail, Banking, Healthcare) – Industry Trends and Forecast to 2029
Commercial Security Systems Market Analysis and Size
The rising number of terrorist attacks and organised crime around the world, the expanding construction industry, the expanding adoption of IP cameras, the accelerated implementation of stringent fire protection-related regulations, and the rising adoption of IoT-based security systems powered by cloud computing platforms are the major factors driving market growth.
Data Bridge Market Research analyses that the commercial security systems market which was growing at a value of USD 2823.2 million in 2021 is expected to reach the value of USD 5303.47 million by 2029, at a CAGR of 8.20% 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.
Commercial Security Systems Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Smart Locks, Security Cameras, Security Alarms, & Sensors), Solution (Surveillance System, Access Control Management, & Intruder Alarms), End-Users(Retail, Banking, Healthcare)
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Countries Covered
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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
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Market Players Covered
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Honeywell International, Inc. (U.S.), Bosch Sicherheitssysteme GmbH (Germany), ASSA ABLOY (Sweden), Allegion (U.S.), Snap One LLC (U.S.), UTC Fire & Security (U.S.), Godrej (India), Nortek Control (U.S.), ADT (U.S.), United Technologies Corporation (U.S.)
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Opportunities
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Market Definition
A commercial security system functions as a security system by providing services such as remote status alerts and management, access control, video surveillance, fire, heat, water, and entry alarms, energy management of HVAC systems (heating, ventilation, and air conditioning), control lighting, and power-on and -off and designated equipment.
Commercial Security Systems Market Dynamics
Drivers
- various benefits to organization through adoption of security systems
Commercial security systems provide numerous advantages, including the reinforcement of authorised and unauthorised areas. The security system can detect trespassers in restricted areas. Businesses can use commercial security systems to protect their employees, properties, and assets. The security system also provides proof of theft in the event of theft. Another advantage is that authorities respond quickly. During a potential crime in progress, the commercial security system alerts authorities. This reduces the amount of damage. Furthermore, most insurance companies offer discounts to businesses installing commercial security systems. These advantages are increasing the use of commercial security systems.
- Growing adoption of advanced technologies
Increasing awareness across multiple sectors, growing security concerns, increased use of wireless technology in security systems, increased adoption of new technological solutions, and low-cost device availability Also, factors such as the government's increased use of various cameras, as well as the adoption of data-driven solutions such as analytics. Acceptance of technology-driven solutions is growing.
Opportunity
Due to rapid urbanisation, cities now require innovative solutions to long-term challenges such as controlling traffic flows, managing waste, meeting energy efficiency targets, controlling security breaches, and managing city surveillance. To address the long-term challenges posed by growing urbanisation, governments in developing economies, including China and India, are focusing on developing smart cities with massive government and stakeholder funding.
Restraints
The high costs associated with the installation and maintenance of access control systems are expected to be the primary impediment to market growth. Customers are becoming more aware of the benefits of access control systems; however, expensive hardware and a high cost of ownership have stifled their adoption in emerging markets. Expensive hardware and advice on how to use these systems raise the installation cost.
This commercial security systems 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 commercial security systems 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 Commercial Security Systems Market
As numerous activities were required to be postponed and restarted slowly, worldwide interest in commercial security camera systems frameworks was influenced. The report's current market assessment is based on both pre-COVID-19 and post-COVID-19 circumstances. In the post-COVID-19 environment, the market is expected to show negative growth in 2020-2021. This will be followed by generally slower growth in the 2021-2022 global commercial security market.
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 Development
- Johnson Controls acquired an excess stake in Qolsys Inc., a major private and business security and keen homemaker, in August 2020. This security is expected to improve long-term openings for broad cloud-powered IoT arrangements in its fire wellbeing business.
- Hikvision released another generation of remote caution frameworks, AX PRO, in September 2020, conveying complete alert answers for business applications. This framework has a conservative board centre point for a wide range of finders and peripherals, such as interruption detection, video verification, smoke detection, flood detection, and home robotization.
Global Commercial Security Systems Market Scope
The commercial security systems market is segmented on the basis of product, solution 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.
Product
- Smart Locks
- Security Cameras
- Security Alarms
- Sensors
Solution
- Surveillance System
- Access Control Management
- Intruder Alarms
Application
- Retail
- Banking
- Healthcare
Commercial Security Systems Market Regional Analysis/Insights
The commercial security systems market is analysed and market size insights and trends are provided by country, product, solution and application as referenced above.
The countries covered in global commercial security systems market 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.
Asia-Pacific commercial security systems market is expected to grow at the fastest CAGR. This expansion is attributed to a wide range of applications, commercial security system adoption, increased commercial property construction activities, increased cybercrime, and rising security system investment. These factors are expected to boost demand for commercial security systems.
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 Commercial Security Systems Market Share Analysis
The commercial security systems 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 commercial security systems market.
Some of the major players operating in the commercial security systems market are:
- Honeywell International, Inc. (U.S.)
- Bosch Sicherheitssysteme GmbH (Germany)
- ASSA ABLOY (Sweden)
- Allegion (U.S.)
- Snap One LLC (U.S.)
- UTC Fire & Security (U.S.)
- Godrej (India)
- Nortek Control (U.S.)
- ADT (U.S.)
- United Technologies Corporation (U.S.)
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