Security and Surveillance Market Growing at a CAGR of 9.72% to reach USD 84.91 Billion by 2029 – Growth Opportunities, Strategic Initiatives, Recent Initiatives, Expansion Plans, and Forecasts
Video surveillance is expected to be a rewarding segment during the forecast years. The Asia Pacific region is likely to continue to account for the largest market size in the security and surveillance market.
Dallas, Texas, September 16, 2022 (GLOBE NEWSWIRE) – Global Security and Surveillance Market It will generate an estimated value of US$84.91 billion with an estimated compound annual growth rate of 9.72% during the forecast year 2022-2029.
The ability to prevent illegal activities and burglary significantly drives the global security and surveillance market. Proper security and monitoring systems protect businesses from falling prey to employee theft and shoplifting. The monitoring system is able to reduce the burden of monitoring each sector of the business and helps the authorities focus on product improvement. Companies can prevent the loss of revenue due to fraud cases with the help of security systems which in turn increases the demand for the global security and surveillance market.
Small businesses at risk of employee theft can implement effective security and control systems to protect company property. Availability of a good monitoring system increases customer confidence in the business.
The Security and Surveillance market can be categorized into IT Security, Video Surveillance, Workplace Surveillance, and Smart Home Security with respect to the types of technology used. Companies can adopt important security measures to ensure a safe environment for customers and employees with the help of intelligent monitoring systems. Companies will no longer be burdened with the aspects of sabotage and intrusion. The installation of video surveillance systems will benefit companies in effectively monitoring the work of their employees across multiple departments ensuring high productivity all the time.
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The use of video surveillance will help in real-time access to business operations, regardless of location. The security and monitoring system can monitor many areas and thus reduces the cost of deploying security guards and other manual security resources.
The global market has achieved even greater heights due to recent developments and innovations. In November 2021, Hikvision launched technology-packed webcam products that consist of rich built-in features to help implement quality security standards. Bosch Security launched the MIC fusion 9000i 9mm IP camera in June 2022 to help companies obtain and transmit a 36-degree view of critical job sites in real time within a few seconds. The camera system is infused with metadata fusion technology to accurately predict object detection and send alerts about abnormal activities.
In February 2022, BriefCam partnered with INSEC Security to bring the exponential growth of the video analytics sector using diverse expertise. In August 2022, Swann launched the AllSecure600 security suites. Security systems are coordinated with high-definition wireless cameras and enable local data storage. The application of cloud storage technology with security and monitoring systems enhances security standards and thus enhances the global market.
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The Asia Pacific region will capture a large proportion of the global market during the forecast period. The presence of major players in the market is a crucial factor in increasing the demand for security and surveillance systems. The Asia Pacific region has the largest number of security systems across various government and private enterprise infrastructures. Continuous population growth and the establishment of many shopping malls, retail stores and public facilities prompt the need for smart security systems to prevent malicious activities. Increasing technological advancements have led to the discovery of seamless security systems significantly driving the global Security and Surveillance Market.
Important points from the table of contents:
2. Research Methodology
3. Market outlook
4. Security and Surveillance Market by Technology Type, 2018-2028 (US$ Billion)
4.1 Video surveillance
4.1.1. video surveillance camera
4.1.2. Video Surveillance as a Service (VSaaS)
4.2 Smart Home Security
4.2.1. Home Monitoring / Security
4.2.2. smart speaker
4.2.4. Smart doors and locks
4.3 IT Security
4.3.1. cloud security
4.3.2. data security
4.3.3. Application security
4.3.4. security service
4.3.5. network security equipment
4.3.6. Other information security software
4.4 Monitoring the workplace
4.4.1. Employee Monitoring Program
4.4.2. staff monitoring
4.4.3. employee tracking
5. Security and Surveillance Market by End-Use Type, 2018-2028 (US$ Billion)
6. Security and Surveillance Market by Region 2018-2028 (US$ Billion)
6.1 North America
6.2.1. United kingdom
6.2.4. Rest of Europe
6.3 Asia Pacific
6.3.3. Rest of Asia and the Pacific
6.4. South america
6.4.3. Rest of South America
6.5. Middle East and Africa
6.5.1. Saudi Arab
6.5.2. Rest of the Middle East and Africa
7. Competitive landscape
8. Company Profiles
8.1.1. Product Portfolio
8.1.2. Recent Initiatives
8.1.3. Company’s financial statements
8.6 The Hewlett-Packard Foundation
8.9 Juniper Networks
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