About Industrial Security Systems
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 | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
CAGR | 8.72% |
The players of industrial rubber products are focusing on strategic partnerships to improve their product launches according to regulatory standards. The companies are exploring the market in new regions by adopting merger & acquisition as the market is highly fragmented the competition between the companies is high. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Industrial Security Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Veridin Systems Canada Inc. (Canada), Gray Security Systems (United States), JMG Security Systems, Inc. (United States) and Sonitrol Canada (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Security Systems market by Type (Intrusion Detection Systems, Video Surveillance Systems {Cameras, Video Encoders, Recorders} and Access Control System) and Region.
On the basis of geography, the market of Industrial Security Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by End Users, the sub-segment i.e. Tourism and Recreation Industry will boost the Industrial Security Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Imaging will boost the Industrial Security Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Channel, the sub-segment i.e. Direct Sales will boost the Industrial Security Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service, the sub-segment i.e. Maintenance will boost the Industrial Security Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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
Market Leaders and their expansionary development strategies
In December 2023, Honeywell and enterprise mobility management (EMM) provider SOTI have partnered to remotely manage more than one million devices worldwide. The collaboration between Honeywell’s mobile computers and SOTI's mobility management solutions will allow businesses to improve hardware lifecycles through remote monitoring, diagnosis and repair. The SOTI ONE Platform, protects corporate data on mobile devices through a suite of services.
In February 2023, Industrial control system (ICS) has announced the launch of its latest iteration of the platform for Operational Technology (OT) asset management. and Industrial Defender 7.5 offers several new capabilities to enhance industrial control systems’ protection against cyber threats and compliance with industry standards the company said. It secures industrial systems by delivering comprehensive data, deep-level information about critical assets, policy compliance, and vulnerability management.
Key Target Audience
Industrial Security System Manufacturers, End-Use Market Participants of Different Segments of Industrial Security System, Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.