Global security products market was valued at 218 Billion US$ in 2018 and is projected to reach 333 Billion US$ by 2024
Tuesday, 02 Aug, 2022
With the continuous development of politics, economy and society in various countries around the world, the demand for security products in various countries is also getting higher and higher. The security industry has become an industry closely related to social economy and people's lives.

Global security products market was valued at 218 Billion US$ in 2018 and is projected to reach 333 Billion US$ by 2024, at a CAGR of 7.35% during the forecast period

Security products can be divided into video surveillance, access control, anti-theft alarm, physical protection, building intercom, and others. As an important part of security products, video surveillance products account for about 50% of the market share of security products, as digital and high-definition video equipment gradually replaces traditional analog video equipment, , the number of IoT devices is increasing, video surveillance equipment is increasingly integrated with the Internet and the Internet of things, which further promotes the digital and network process of the video surveillance industry, these factors have become the main driving force for the growth of the video surveillance product industry. Access control products accounted for about 14% of the market share, anti-theft alarm products accounted for about 8% of the market share, building intercom products accounted for about 10% of the market share and physical protection products accounted for about 13% of the market share of the whole security products.

In the past few years, the global security demand has been increasing, and people's security awareness has been continuously improved, technology upgrades and advancements in network cameras have become the leading factors in the development of the security industry. The security products are widely used in many industries, transportation, safe city, finance, civil, energy, education and other industries. Transportation, safe city, finance, civilian, energy, education accounted for about 17%, 17%, 12%, 6%, 9%, 8% of the market share, among them, transportation and safe city are the two largest industries in the security product market.

Key players in global security products market include: Hikvision, Dahua, Honeywell, Bosch, ASSA ABLOY, Axis Communications, FLIR Systems, Allegion, Hanwha Security, Tiandy Technologies, Avigilon, AIPHONE, Optec, Vivotek, Infinova, ADT, Securitas, Samsung etc.