- IoT-based security systems powered by cloud computing platforms, implementation of stringent fire protection-related regulations, expanding adoption of IP cameras, growing construction industry and organized crimes are factors driving this market
JERSEY CITY, N.J., March 24, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Commercial Security System Market" By Product (Smart Locks, Security Cameras, Security Alarms, And Sensors), By Solution (Surveillance System, Access Control Management, And Intruder Alarms), By End-Users (Retail, Banking, Healthcare, And others), and by Geography. According to Verified Market Research, the Global Commercial Security System Market was valued at USD 195.32 Billion in 2020 and is projected to reach USD 376.34 Billion by 2028, growing at a CAGR of 8.54 % from 2021 to 2028.
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Browse in-depth TOC on "Commercial Security System Market"
202 - Pages
126 - Tables
37 - Figures
Global Commercial Security System Market Overview
The rising number of terrorist attacks and organized crimes across the world and the growing construction industry are some of the major factors driving the growth of the commercial security system market. Moreover, expanding adoption of IP cameras and accelerating the implementation of stringent fire protection-related regulations are some of the other factors anticipated to boost the growth of the market. The security market is anticipated to grow in the government and law enforcement end-use segments due to the increased crime rates. Governments across various nations are undertaking initiatives to reduce the crime rate. For instance, the reduction of manpower involved in performing critical jobs at perilous locations, and replacing them with surveillance systems, is expected to fuel the growth.
The major players in the market are Siemens Healthcare; ADT Security Services, Bosch Security Systems, Allegion, Godrej & Boyce Manufacturing Company Limited, United Technologies Corporation, ASSA ABLOY AB, Nortek Security and Control, Honeywell International, Inc., UTC Fire & Security, and Control4.
Verified Market Research has segmented the Global Commercial Security System Market On the basis of Product, Solution, End-Users, and Geography.
- Commercial Security System Market by Product
- Smart Locks
- Sensors
- Security Cameras
- Security Alarms
- Commercial Security System Market by Solution
- Surveillance System
- Intruder Alarms
- Access Control Management
- Commercial Security System Market by End-Users
- Retail
- Healthcare
- Banking
- Other
- Commercial Security System Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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