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Security Solutions Market Opportunities, Industry Trends and Forecast to 2027
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Security Solutions Market Research Report, by Product (Entrance control, Intruder alarms, Wireless systems), Service (Remote monitoring services, Fire protection services, Others), End-user (Commercial, Industrial, Others) — Forecast till 2030

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Global  security solutions market , according to MRFR, is poised to expand from USD 222.52 billion in 2017 to USD 410.27 billion by 2023, at a CAGR of 10.73% during the forecast period.

Market Scenario

The growing need to protect people, as well as properties from increasingly emerging cyber attacks, is one of the main drivers driving the demand for security solutions. Increasing customer perception of security issues and their willingness to invest on security systems are some of the other factors that are driving the market's growth. For more strict regulatory laws and legislation to track data privacy, it is clear that there is a growing urgency to enforce security policies. The emergence of smart city projects internationally paves the way for prospects for development in this market. Some of the major challenges facing service providers is maintaining identity protected through safe keys and successful data protection initiatives. The growing trend of deploying advanced security technologies is projected to stimulate growth in the demand for security solutions over the forecast era. However, high deployment & maintenance costs are hampering this market growth. In addition, the growth of security solutions is due to its ability to serve different segments of the security network including attack, emergency response and access control. 

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Security solutions market is segmented on the basis of product, service, end-user and region.

The market is segmented by category into the monitoring of exits, security cameras, intrusion detectors, wireless devices, video detection, access control, fire protection and others.

The industry is segmented by company into remote monitoring services, video surveillance services, fire safety, access control company, convergence of security systems and others.

The market is segmented by end user into business, manufacturing, energy & services, transportation, retail, banking & finance, education, residential, economy, transportation and others.

Top Key players

The major players in the security solutions market are Tyco International Ltd (US), Honeywell International, Inc. (US), Godrej & Boyce Manufacturing Company Limited (India), Nortek Security & Control LLC (US), ASSA ABLOY AB (Sweden) , Bosch Security Systems (Germany), Hikvision Digital Technology Co.Lt (China), ADT Corp(US), UTC Fire & Security (US), and SECOM Co., Ltd (Japan) among others.

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