Commercial Security System Market by Component (Hardware, Software, Services) and Vertical (Commercial, Government, Transportation, Retail Banking & Finance, Education, Industrial, Others), Global Market Size Estimates and Forecast (2022–2030)

Code: BMIRE00026544 | Pages: 100 | Industry: Electronics and Semiconductor | Date: Sep 2022 | Type: Global

The commercial security system market is expected to cross US$ 225.33 billion in 2022 and is projected to hit US$ 464.66 billion by 2030, recording a CAGR of 8.4% during the forecast period.

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Rising global terrorist activities are increasing security concerns and driving the commercial security system market growth

The increasing global terrorist activities are rising concerns related to safety and security. Countries such as Iraq, Russia, Afghanistan, Pakistan, India, and Syria are witnessing most of the terrorist activities. For instance, September 2022, a terrorist open fired in a Russian school, killing 15 people and injuring 24 people. Similarly, in July 2022, a terrorist attack took place in Iraq that killed 8 tourists while injured 20 people. Such kind of terrorist activities threaten the society and mankind. To prevent terrorist activities, the governmental organizations are installing commercial security system in their premises and thus propelling the commercial security system market growth.

Within the report, the commercial security system market is segmented into component, vertical and geography. By component, the commercial security system market is segmented into hardware, software and services. On the basis of vertical, the market is segmented into commercial, government, transportation, retail banking & finance, education, industrial, and others. Geographically, the commercial security system market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

To keep organization safe and secure, commercial security system comes to the rescue

The commercial security systems are those systems that performs security applications such as surveillance, control, alert sound in the premises. These systems are commonly installed in residential apartments, shopping malls, commercial buildings and also employed in public places for surveillance.

Rising adoption in various industries is one of the major factors accelerating the commercial security system market growth.

The end users in the commercial security system market are commercial, government, transportation, retail banking & finance, education, industrial, and others. Within these industries, the commercial security system’s demand is rising in the commercial industry. The commercials install access control, CCTV, microwave, infrared, laser sensors, alarms, fire extinguisher systems, fire detection system etc. in their premises. Moreover, the other end users such as government, transportation, retail banking & finance, education, and industrial are also propelling the commercial security system market growth.

Recent strategic developments in the commercial security system market

The commercial security system market has undergone several significant developments, and a few of these have been mentioned below:

  • In April 2022, Johnson Controls acquired Security Enhancement Systems LLC, a mobile-based keyless access control solutions provider.
  • In September 2020, Honeywell launched a software, Pro-Watch Integrated Security Suite, for the protection of people and property.

The commercial security system market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Johnson Controls; Hikvision; Carrier; Honeywell International; Dahua Technology; dormakaba Holding AG; BOSCH SECURITY SYSTEMS; ASSA ABLOY; Secom Co., Ltd; Axis Communications AB are among the prominent players operating in the commercial security system market.

Target audience for the commercial security system market report:

  • Raw material providers
  • Commercial security system providers
  • Government organizations and agencies
  • Commercial security system-related service providers
  • Semiconductor component suppliers
  • Commercial security system distributors and sales firms
  • End users of commercial security system

Scope of the report:

In this report, the commercial security system market has been segmented on the basis of:

  • Component:
  • Hardware
  • Software
  • Services
  • Vertical
  • Commercial
  • Government
  • Transportation
  • Retail Banking & Finance
  • Education
  • Industrial
  • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  •  
  • Companies profiled
    • Johnson Controls
    • Honeywell International
    • Dahua Technology
    • BOSCH SECURITY SYSTEMS
    • Axis Communications AB

 

 

Companies profiled

  • Johnson Controls
  • Honeywell International
  • Dahua Technology
  • BOSCH SECURITY SYSTEMS
  • Axis Communications AB
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