Industry Background:
In this modern era, the Industrial security system has played a significant role in every end-user industry . It has high growth prospects due to internal security that helps to protect industrial installations, materials, utilities, and resources. Industrial security systems used to detect weapons, liquor products, metals, objects, and others. Additionally, Increasing demand for Industrial security systems across various end-use industries such as transportation, BFSI, and others is steering market growth. Factors such as increasing defense industry are coupled with rising government spending security purpose will provide a positive scope for the product penetration during the forecasted timeframe.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | Honeywell International, Inc. (United States), Bosch Group (Germany), Cisco Systems, Inc. (United States), L-3 Communications Holdings (United States), Securitas AB (Sweden), Johnson Controls, Inc. (United States), Tyco Security Products (Ireland), Protection One (United States) and Rockwell Automation, Inc. (United States) |
According to AMA, the market for Industrial Security Systems is expected to register a CAGR of 8.72% during the forecast period to 2028. This growth is primarily driven by The terror attack has become a major challenge globally. Hence, an industrial security system process is a sign of relief for human resource representatives and government bodies. Security System is used for combat against terrorism and protect people and organization data that could become the target of attacks. Furthermore, factors such as the rising demand for cloud based coupled with shifting government focus toward defense will bolster the product demand over the forecast time period.
Globally, a noticeable market trend is evident Increasing Demand from Asia-Pacific Regions
The Systems Software sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Honeywell International, Inc. (United States), Bosch Group (Germany), Cisco Systems, Inc. (United States), L-3 Communications Holdings (United States), Securitas AB (Sweden), Johnson Controls, Inc. (United States), Tyco Security Products (Ireland), Protection One (United States) and Rockwell Automation, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2019, Cisco announced to acquire Sentryo. This acquisition will strengthen the company productivity, gain access for deep intelligence and enhance the visibility & security solutions. It also beneficial for the resilience of industrial networks and protect against cyber-attacks.
In January 2019, STANLEY Security launched a retail software, which is beneficial for integration of exception-based reporting and video surveillance solution for retail organizations. It also offers operational efficiency while maintaining strong business ethics inside the company.
Influencing Trend:
Increasing Demand from Asia-Pacific Regions and Rising Demand for Electronic and Mechanical Systems
Market Growth Drivers:
The terror attack has become a major challenge globally. Hence, an industrial security system process is a sign of relief for human resource representatives and government bodies. Security System is used for combat against terrorism and protect people and organization data that could become the target of attacks. Furthermore, factors such as the rising demand for cloud based coupled with shifting government focus toward defense will bolster the product demand over the forecast time period
Challenges:
Availability of Substitute as Biometric System and Stiff competition among major players
Restraints:
High Cost Associated with Industrial Security System and Lack of Awareness Among End Users Regarding Security Systems and Its Benefits
Opportunities:
Technology Advancements in Security Systems Such as IP Systems, Surveillance Software among Others and Upsurging Growth in Isolated Network Monitoring System
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Industrial Security Systems Market
- Analysis about New Entrants in Industrial Security Systems Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Industrial Security Systems Study Sheds Light on
The Industrial Security Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Industrial Security Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Industrial Security Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.