Commercial Security System Market Forecast to grow at a CAGR of 8.9% by 2026


Posted April 13, 2022 by avinashgogawale14

The Global Commercial Security System Market Size is projected to grow USD 223.9 billion in 2021 to USD 342.6 billion by 2026; it is estimated to grow at a CAGR of 8.9% during the forecast period.
 
The Commercial Security System Market includes different sets of security measures to protect a person, community, organization, and other valuables from various threats such as theft, burglary, and other unethical practices in non-residential verticals. Major security systems deployed to avoid these threats include fire protection systems, video surveillance systems, access control systems, and entrance control equipment.

The Commercial Security System Market is fragmented, with APAC being the leading region in this market. The major players operating in Commercial Security System Market are Johnson Controls (Ireland), Hikvision (China), Carrier (US), Honeywell International (US), and Dahua Technology (China). Strong distribution networks, diverse product portfolios, and a strong brand image are some of the reasons for the large shares of these companies in the overall Commercial Security System Market. The Global Commercial Security System Market Size is projected to grow from USD 223.9 billion in 2021 to USD 342.6 billion by 2026.

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Johnson Controls (Ireland), Hikvision (China), Carrier (US), Honeywell International (US), and Dahua Technology (China) are the leading players in the Commercial Security System Market.

Johnson Controls (Ireland)

Johnson Controls offers security, fire detection, suppression, and life safety products and services. Its products are sold under the following brand names: Tyco, Simplex, Grinnell, Sensormatic, Ansul, Simplex, Scott and ADT, Software House, Visonic, Chemguard, and Exacq. Johnson Controls operates through 4 major segments—Building Solutions North America, Global Products, Building Solutions EMEA/LA, and Building Solutions Asia Pacific. The company sells its commercial security products through all of its 4 business segments. With a diversified market presence and global reach, Johnson Controls is driving sales growth by introducing competitive and differentiated products and services. To accomplish this, the company invests heavily in enhancing its R&D capabilities. It has R&D centers in many countries, which allows it to serve customers with innovative solutions and products.

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Hikvision (China)

Hikvision is one of the world’s leading suppliers of video surveillance products and solutions. The company has state-of-the-art manufacturing facilities for innovative CCTV and video surveillance products. Hikvision’s product portfolio includes smart IP cameras, HD analog cameras, speed domes, NVRs, DVRs, video management software, access control and alarm systems, encoders, decoders, and other elements of sophisticated security systems. Hikvision has years of experience in manufacturing and marketing products and has developed several innovative products. To maintain its leadership position in the market, the company is focusing on investing in products and solutions related to the security business. Hikvision is one of the important players offering AI-based products for video surveillance, such as the DeepView series.

Carrier (US)

Carrier is a leading provider of heating, ventilating, air conditioning (HVAC), refrigeration, fire, security, and building automation products, solutions, and services. Carrier used to operate as a part of United Technologies Corporation; however, in March 2020, it was set up as an independent company. Carrier operates through 3 business segments—HVAC, Refrigeration, and Fire & Security. It provides a wide range of fire and security products, including fire, flame, gas, and smoke detection, portable fire extinguishers, fire suppression, intruder alarms, access control systems, video surveillance, and building control systems. It focuses on enhancing its technology business through product launches, partnerships, and acquisitions. The company aims to improve its production of fire suppression and detection solutions.

Other companies involved in the Commercial Security System Market are Honeywell International (US), Dahua Technology (China), dormakaba Holding (Switzerland), Bosch Security Systems (Germany), ADT (US), Axis Communications (Sweden), SECOM (Japan), and ASS ABLOY (Sweden).

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Last Updated April 13, 2022