Security Market To Hit a Revenue of US$ 217.2 Billion by 2028 | Exclusive Report by IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The global security market size reached US$ 124.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 217.2 Billion by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.

What is Security Market?

Security encompasses a variety of cybersecurity strategies designed to thwart unauthorized access to an organization's resources, including computers, networks, and data. It encompasses various aspects of information technology (IT) security, including network, internet, endpoint, cloud, user, and application security. The primary goal of security is to protect sensitive information by preventing hackers from gaining access, thereby playing a vital role in contemporary business strategies. Neglecting security measures can result in adverse consequences, such as theft and a loss of customer trust and loyalty.

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What are the growth prospects and trends in the Security Industry?

Moreover, there is a growing need to safeguard electronic information and assets from unauthorized access, use, and disclosure, which is bolstering market growth. The logistics sector is increasingly utilizing information and communication technology (ICT) for transparency, cost-efficiency, and real-time asset tracking, but this has also resulted in a higher risk of data theft, acting as another significant driver for the market. Additionally, the rising demand for security systems to detect potential threats and breaches and protect the confidential information of suppliers and customers due to the popularity of online shopping apps is expected to drive the security market in the coming years.

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Who are the key players operating in the industry?

• Ameristar Perimeter Security (Assa Abloy AB)
• ATG Access Ltd.
• Avon Barrier Corporation Ltd. (Perimeter Protection Group)
• Barrier1 Systems LLC
• CIAS Elettronica Srl
• Delta Scientific Corporation
• EL-Go Team, Frontier Pitts Ltd.
• Honeywell International Inc.
• Johnson Controls International PLC
• Senstar Corporation (Senstar Technologies Ltd.)
• Teledyne FLIR LLC (Teledyne Technologies Incorporated).

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by System:
• Access Control Systems
• Alarms and Notification Systems
• Intrusion Detection Systems
• Video Surveillance Systems
• Barrier Systems
• Others

Breakup by Service:
• System Integration and Consulting
• Risk Assessment and Analysis
• Managed Services
• Maintenance and Support

Breakup by End User:
• Government
• Military and Defense
• Transportation
• Commercial
• Industrial
• Others

Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

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