Commercial Security System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Commercial Security System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : May, 2021 | Technology & Media

Report Digest

Commercial security systems are structures used by the company or commercial properties to guard itself against risks of intrusion, fire or vandalism. Some methods of security are high-tech locks, burglar proof frames for windows and doors, security guards, computer security software, video surveillance, and alarm systems.

Owing to the prevalence of theft, security holds the major concern for the corporates. Protecting all entry points, windows and doors by adding burglar proof iron frames around them is the cheapest and tactic way of keeping your building safe. Alarm systems are a popular method for securing your commercial space. Alarms alert the business owner or law enforcement agents of an intrusion or other emergencies by having the siren component of the system go off upon being activated by an incident. Video surveillance, online security guards are other such security systems required in commercial business space.

Video Surveillance to Witness Significant Growth

Video surveillance system helps in preventing criminal activity and also can provide evidence in the event of a crime and also. It records every minute detail of the day to day happenings. A video surveillance system or CCTV consists of cameras, monitors, display units, and recorders. CCTVs can be placed anywhere inside or outside the premises. They operate 24/7 but can be set to record a particular time of the day. It makes it easy for the owner to decide if he/she wants to record every minute detail or just some specific part. CCTVs have become very normal and are used everywhere nowadays and the market continues to rise in the forecast period too.

Development of Smart Cities

Emergence of several initiatives and campaigns for smart cities is a key aspect for boosting the market of commercial security systems. For smart cities, electronic security is a critical concern and is of core importance. It has the ability to provide fast, real-time data, for better safety and security. Rapid urbanisation in Asian countries is attracting investments for smart cities. The development of smart city is a combined project of developing traffic management system, smart grids, better health-care facilities, advanced construction process, etc. Smart cities require cyber security too for ensuring that the data recorded and saved remains safe.  Practical, simple and secure solutions are widely adopted by OEMs and services are more effective than a super solution.

High Installation Cost can Inhibit Growth

High cost associated with the installation in residents privately can inhibit the market growth in residential societies. Besides knowing the advantages of security systems, expensive hardware and high ownership cost may hamper the market growth in developing countries.

Commercial Security System Market - Competitive Landscape

Prominent market players in commercial security system market are:

  • Johnson Controls (Ireland)
  • Hikvision (China)
  • Carrier (US)
  • Honeywell Commercial Security
  • Assa Abloy
  • Axis Communications
  • Identiv, Inc
  • NEC Corporation
  • Bosch Security and Safety Systems
  • Suprema, Inc  

Recent developments in commercial security system market are:

  • In August 2020, Johnson acquired remaining stake of Qolsys, a leading residential and commercial smart home security manufacturer. The acquisition will lead to achieving the operational efficiencies and scale across the global markets and enhancing the suite of products and services offered on our digital platform.
  • In September 2020, Hikvision launched a new generation of wireless alarm systems, AX PRO delivering comprehensive alarm solutions for commercial applications. The system has a panel hub for detectors and peripherals, including intrusion detection, video authentication, smoke detection, flood detection, and home automation.
  • In October 2020, Carrier’s subsidiary Lenel S2 announced a merger with Milestone systems for distributing Milestone products globally. The agreement allows joint offering of LenelS2 Onguard access control and Milestone XProtect video management software, which will lower the ownership cost for end users.
  • NEC in October 2020 announced the acquisition of Avaloq Group AG, a leading Swiss financial software company. The acquisition will provide NEC with digital finance software and domain knowledge as it enters into the field globally and strengthens its business in the digital government field.

Commercial security system market-Regional Outlook

Asia-Pacific is expected to witness major growth in security systems as to ensure safety against terror attacks especially in India and China. The governments are focussing on investing in security heavily as the growing concerns related to terrorism. These developing economies are working towards improving their infrastructure both in public as well as private sector. Demand for security system in temples, airports, office buildings, hotels act as a driver for significant growth of the market.

North America security system market is surging rapidly. Evolution of new and improved system technologies and increasing research and development has made Internet of things, remote monitoring prevalent. Revival of construction activities, specifically in the construction sector facilitates the demand for commercial and home security system. Improved network infrastructure combined with broadband and internet has been pertinent to the market growth.  

Commercial security system market -Segmentation

          By Product

  • Smart Locks
  • Sensors
  • Security Cameras
  • Security Alarms

By Solution

  • Surveillance System
  • Intruder Alarms
  • Access Control management

By Services

  • Security System Integration
  • Remote Monitoring Services
  • Fire Protecting Services
  • Video Surveillance Services
  • Access Control Services

By Software offering:

  • Fire Analysis
  • Video Surveillance Software
  • Access Control Software

By End-Users

  • Retail
  • Healthcare
  • Government
  • Education
  • Industrial
  • Residential Buildings
  • Banking
  • Others

By Region

  • North-America
  • Europe
  • Asia-Pacific
  • Rest of the world
  • In which end-user segment, the market is expected to see higher growth?

          Health-care and government sector to witness highest demand during the forecast period.

  • What are the key trends in the commercial security system sector?

          Internet of things, data security, security for data breaching, cyber security is the primary concern nowadays.

  • Which are the top players in commercial security system market?

         Johnson Control, Assa Abloy, Axis Communications, Carrier, Hikvision, etc. are some of the prominent players in Commercial security systems industry.

  • What are the growth opportunities in commercial security system?

         Growing government funding in developing smart cities in Asian countries, meeting energy efficiency targets, controlling security breaches owing, rapid urbanisation all act as growth opportunities.

  • Which are the largest markets for commercial security system?

        US, UK, Germany, France, Japan, South Korea and China are among prominent markets.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?