Press Release / Technology / Security System Market – Challenges, Key Vendors, Drivers and Trends by Forecast to 2023

Security System Market – Challenges, Key Vendors, Drivers and Trends by Forecast to 2023

Market Highlights:
The security systems market is growing at a positive rate including the wireless and electronic security systems. Many various dynamic and diversified international organizations having global presence and remotely connected, regional organizations dealing mainly in commercial spaces and as well as new entrants.
The market of Security systems can be bifurcated further by Deployment, Product, End – User and Region. On the basis of Deployment, Security system market can be divided into Commercial security and industrial security. Industrial security can again be divided into Large and SME’s. Out of these, Commercial security market holds the larger market share in global terms compared to the industrial security systems. However, the industrial security is higher when compared in terms of wireless security systems. The commercial security is high due to higher penetration of Internet, digitalization of Retail and Banking & Finance industries and technological advancements in the Transportation sector.
The Security System Market is expected to reach approximately 78.56 USD billion by the end of 2023 with 14.47 % CAGR during the forecasted period from 2017 – 2023.
Major Key Players:

Cisco systems Inc (US)
ASSA Abloy (Sweden)
FLIR systems (US)
Bosch security systems (Germany)
ADT Corporation (US)
Brocade communication systems Inc (US)
Honeywell International, Inc (US)
Symantec Corporation (US)
Fortinet (US)

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Regional Analysis:
The Security Systems Market is expected to grow at a fast pace over the forecasted period of 2017 -2023. Security systems market is a dynamic and very highly growing market in terms of wireless industrial security, electronic security, smart devices (smart cards, smart locks and alarms), connected home security and Asset tracking. This study encompasses the security concerns against the illegal activities is moving a major trend towards electronic and wireless security. More and more devices being connected under IoT and enablement of remote connection is another driving factor for Security systems market. Companies in North America are highly concerned for industrial automation resulting in prone to cyber-attacks.
The Security system market is majorly segmented into four regions namely North America, Europe, Asia Pacific and Rest of the world. Of North America, United States is the leader in terms of industrial security having usage of radar systems, access control management. This is due to the factors like early adoption towards industrial automation and highly advanced Aerospace & defense industry. Germany, France, UK and Sweden in the European continent are following the trails of United States. In the Asia pacific region, major emerging economies like China, India and Japan are investing more in defense and automation in industries like retail, Banking & Finance and Transportation.
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Segments: For the purpose of this study, Market Research Future has segmented the market of Industrial Cyber Security into product, solutions, industries, organization size and region.
Product:

Hardware
Software solutions

Deployment:

Commercial security
Industrial Security

End – User:

Transportation
Commercial
Industrial
Retail
Banking & Finance
Aerospace & Defense

Region:

North America
Europe
Asia pacific
Rest of the world.

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Intended Audience:

Device manufacturers
Network Security providers
Distributors
Suppliers
Research firms
Software investors
Software Developers
IT enablers
Vendors
Wireless security system service providers
Security Agencies
Security Equipment Providers

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