According to the new market research report from Markets and Media, “Security Solutions Market by Systems (Video Surveillance, Access Control, Thermal Imaging, Fire Protection, Entrance Control, Intruder Alarm), Services (Security Systems Integration, Remote Monitoring, VSaaS, ACaaS), Vertical – Global Forecast to 2029”, The global security solutions Industry size is expected to be valued at USD 354.7 billion in 2024 and is projected to reach USD 502.1 billion by 2029; growing at a CAGR of 7.2% from 2024 to 2029.

The proliferation of smart cities, critical infrastructure projects, and the escalating emphasis on data protection and privacy further propel the demand for innovative security solutions, fostering continuous market expansion.

Major players in the market are:

• Johnson Controls (Ireland)
• Honeywell International Inc. (US)
• Robert Bosch GmbH (Germany)
• ADT (US)
• Hangzhou Hikvision Digital Technology Co., Ltd. (China)

The security solutions Industry for video surveillance services is experiencing robust growth due to increasing concerns about security and safety across various sectors, including commercial, residential, and public spaces, drive the demand for advanced surveillance technologies. As incidents of security breaches and criminal activities rise, organizations and individuals are investing in comprehensive video surveillance systems to deter potential threats and enhance overall security. Advanced technologies, such as high-resolution cameras, intelligent video analytics, and cloud-based storage, enhance surveillance capabilities.

The security solutions Industry for the residential vertical is experiencing significant growth due to the increasing awareness of the importance of home security, which has driven homeowners to invest in advanced technologies to protect their properties and loved ones. The rise in crime rates and security concerns has heightened the demand for robust residential security solutions. The integration of smart home features, such as surveillance cameras, smart locks, and sensors, allows homeowners to monitor and control their security systems remotely. This convenience and ease of use contribute to the market’s growth as more households adopt these advanced solutions.

The security solutions Industry in the Asia Pacific region is witnessing substantial growth driven by the increasing awareness of the importance of security measures in both public and private domains has led to a surge in demand for advanced security solutions. Rising concerns about terrorism, cyber threats, and geopolitical tensions have heightened the need for sophisticated surveillance and protection systems. Rapid urbanization and economic development in many APAC countries have resulted in a proliferation of critical infrastructure projects, smart cities, and commercial hubs. This expansion creates a substantial demand for comprehensive security solutions to safeguard assets, people and information.