Global Industrial Security Systems Market Size/Share Revenue Will Eventually Exceed $91.71 Billion by 2030, Increasing at a CAGR of 7.52%

New York, NY, April 28, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Industrial Security Systems Market By End-User (Defense, Manufacturing, Educational, Service, And Others), By Offering (Systems And Service), By Technology (Scanning, Imaging, And Sensing), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand for global Industrial Security Systems Market size & share in terms of revenue was valued at USD 51.52 billion in 2022 and it is expected to surpass around USD 91.71 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.52% during the forecast period 2023 to 2030.”

What are Industrial Security Systems? How big is the Industrial Security Systems Industry?

Report Overview:

Industrial security systems are a collection of procedures, technologies, and regulations that are meant to maintain the safety of the physical and digital assets of an industrial facility. Their primary objective is to deter theft and prevent damage to these assets. The protection of assets against a wide variety of security risks, such as thievery, sabotage, espionage, and terrorism, is the primary objective of the systems and methods that are being discussed here.

The production and distribution of a variety of goods and services connected to industrial security systems are included in the definition of the industrial security system market. It incorporates a number of different technologies, including fire and smoke detectors, alarm systems, access control systems, surveillance cameras, and intrusion detection systems. In addition to that, it includes ancillary services including consultancy, design, installation, maintenance, and instruction on its use. The need for such industrial security systems has been on the rise in recent times as a result of an increase in the number of businesses and industrial units that are working towards the goal of assuring the safety of their products, data, and physical assets. The market is anticipated to expand at a rate that is consistent throughout the duration of the projection period.

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Global Industrial Security Systems Market: Growth Factors

Because of the rising number of security breaches that are occurring all over the world and in a variety of business sectors, the global industrial security systems market is anticipated to expand in the next years. Concerns about safety are no longer confined to a single industry because, in today's world, every organization, no matter how big or how small, is vulnerable to a variety of security threats, such as cybercrime and other occurrences that might take place in the area surrounding an industrial plant.

As a consequence of this, businesses and business leaders have been searching for technologically advanced tools, systems, software programmes, surveillance cameras, and any other measure that can be taken to increase the overall security of the organization. For example, according to IBM's Data Breach Report published in 2021, the overall cost of a data breach in 2020 was close to 4.24 million United States Dollars. As a result of labour strikes in 2017, India lost close to 11.7 lakh man-days of production. It is well known that some of these occurrences are more aggressive than others, resulting in the loss of life and other assets owned by the companies.

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Report Scope

Industrial Security Systems Market: Segmentation Analysis

The global industrial security systems market may be broken down into distinct submarkets defined by factors like as end-user, offering, technological advancement, and geographic location.

Defence, manufacturing, educational institutions, service providers, and others make up the end-user categories that divide the global market. The defence sector experienced the highest growth rate across the industry in 2022, and it is anticipated that it will maintain its dominant position throughout the period covered by the forecast. The rising expenditures made by regional governments on various systems and technologies to protect national security is the primary driver of the segment's high revenue. The current global political situation is undergoing tremendous change, and there is a rise in concerns over the possibility of conflict between countries such as the United States of America, China, Taiwan, Japan, and North Korea, amongst others. As a result, the necessity of improving and enhancing activities for the purpose of preventing security breaches has reached new levels in recent times. At the present time, certain countries are being accused of invading the defence facilities of other countries, which has led to an increased demand for these systems. For instance, Russia's allocated funds for its military in 2022 totaled 75 billion USD.

Systems and services make up the two primary sub-segments of the global industrial security systems market, which are divided according to what is being offered.

The global market can be broken down into scanning, imaging, sensing, and other categories, depending on the underlying technology. The scanning segment, which refers to the operations conducted to scan the security of a web-based programme or website together with file systems and networks, had the highest growth rate in 2022. This was the year when the segment reached its peak. This procedure verifies that the platform being accessed does not have any potentially dangerous components attached to it. On the other hand, sensors are instruments that detect environmental elements and transmit alarms to relevant authorities in the event that there are any deviations from the ideal environment or any irregularities in the environment. Companies or other organizational units may utilize access control systems in order to restrict access to critical places. Nearly USD 18.5 billion was spent on research and development by Alphabet in 2020, the parent company of Google. This spending included expenditures in various forms of digital security.

The global Industrial Security Systems market is segmented as follows:

By End-User

• Defense
• Manufacturing
• Educational
• Service
• Others

By Offering

• Systems
• Service

By Technology

• Scanning
• Imaging
• Sensing

Browse the full “Industrial Security Systems Market By End-User (Defense, Manufacturing, Educational, Service, And Others), By Offering (Systems And Service), By Technology (Scanning, Imaging, And Sensing), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"-Report at https://www.zionmarketresearch.com/report/industrial-security-systems-market

Competitive Landscape

Some of the main competitors dominating the global Industrial Security Systems market include - 

• Honeywell International Inc.
• Johnson Controls International PLC
• Siemens AG
• Schneider Electric SE
• ABB Ltd.
• Bosch Security Systems Inc.
• Axis Communications AB
• Cisco Systems Inc.
• Symantec Corporation
• McAfee LLC
• IBM Corporation
• Fortinet Inc.
• Thales Group
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Raytheon Technologies Corporation
• BAE Systems PLC
• Booz Allen Hamilton Inc.
• Accenture PLC
• Deloitte Touche Tohmatsu Limited
• KPMG International Cooperative
• PwC International Ltd.
• Ernst & Young Global Limited
• G4S plc
• Securitas AB.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Industrial Security Systems market is likely to expand at a CAGR of around 7.52% during the forecast period (2023-2030).            
• In terms of revenue, the Industrial Security Systems market size was valued at around US$ 51.52 billion in 2022 and is projected to reach US$ 91.71 billion by 2030.
• The industrial security systems market is projected to grow at a significant rate due to the rising cases of a security breach.
• Based on technology segmentation, scanning was predicted to show maximum market share in the year 2022.
• Based on end-user segmentation, the defense was the leading user in 2022.
• On the basis of region, North America was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Industrial Security Systems industry?
• What are the main driving factors propelling the Industrial Security Systems Market forward?
• What are the leading companies in the Industrial Security Systems Industry?
• What segments does the Industrial Security Systems Market cover?
• How can I receive a free copy of the Industrial Security Systems Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By End-User, By Offering, By Technology, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America to register the highest growth

The global industrial security systems market is expected to witness the highest growth in North America during the forecast period. The US is projected to lead with the largest part of the regional market share. The growth rate is mainly driven by the presence of some of the world’s most dominating companies that deploy industrial security systems worth millions of dollars. In addition to this, the US is home to several companies that have pioneered the development of some of the most acclaimed industrial security systems and are used for military or non-military purposes across the globe.

During the coming years, the US government is expected to invest more in its defense sector to improve its safety protocols protecting data and other assets owned by the regional defense segment. In Asia-Pacific, the growth is expected to be led by the high adoption of the systems in the growing manufacturing segment and the adoption of Industry 4.0 technologies.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

In April 2023, Socura, a UK-based cybersecurity firm, announced the launch of its Secure Access Service Edge (SASE) program. The new launch is in partnership with Palo Alto Networks’ Prisma. The company expects to bring changes to the lesser-explored sector of SASE technology in the coming years. With the new services, the company is expecting to target small and medium enterprises

In March 2022, Hexagon and Ouster announced the launch of a new and advanced light Detection and Ranging (Lidar) solution with a core focus on the multi-billion dollar market of physical security

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/industrial-security-systems-market

FREQUENTLY ASKED QUESTIONS

• What is industrial security systems?
• Which key factors will influence industrial security systems market growth over 2023-2030?
• What will be the value of the industrial security systems market during 2023-2030?
• What will be the CAGR value of the industrial security systems market during 2023-2030?
• Which region will contribute notably towards the industrial security systems market value?
• Which are the major players leveraging the industrial security systems market growth?

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