The new report by Expert Market Research titled, ‘United States Security Market Size, Report and Forecast 2022-2027’, gives an in-depth analysis of the United States security market, assessing the market based on its segments like systems, services, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 4.8 Billion
• Forecast CAGR (2022-2027): 11.20%
• Forecast Market Size (2027): USD 8.8 Billion
The security industry of the United States is being driven by increasing crimes, such as intrusion, vandalism, and theft over the years in the region. As per estimates, the region witnessed the highest reporting of credit card fraud, government document fraud and loan fraud in 2020 compared to the last four years. The rising purchasing power is enabling many commercial institutions to set up security systems, thus bolstering the market. Moreover, the efficiency of security systems, such as video surveillance, access control systems, alarms and notification systems are also resulting in their growing adoption, which is propelling the security industry’s growth. The strong foothold of several industry players is also providing impetus to the market growth in the United States.
Industry Definition and Major Segments
Security is the protection from any unwanted harm caused by others. The security is ensured using a security system that is electronic devices working together with a central control panel. It safeguards a building from its entry and exit points.
The security industry, by system is divided into:
• Access Control System
• Alarms and Notification System
• Intrusion Detection System
• Video Surveillance System
• Barrier System
Based on service, the market is segmented into:
• System Integration and Consulting
• Risk Assessment and Analysis
• Managed Security Services
• Maintenance and Support
On the basis of application, the market is categorised into:
• Military and Defence
The stringent government regulations against the depredation of any property (Section 1361) and any other illegal activities are significantly catalysing the security industry’s growth in the United States. The United States General Services Administration offers professional security, facility management, and guard services, among others. The efforts taken by the leading industry players to expand their product portfolio by launching security solutions and products are also playing a critical role in the development of the security industry. For instance: Ameristar Perimeter Security offers different engineered gate solutions, such as residential entrance gates, cantilever sliding gates and sliding roll gates. Further, the evolution of new and improved system technologies and the investments in research activities are also expected to augment the security industry of the United States in the forecast period.
Key Market Players
The major players in the market are Ameristar Perimeter Security, Barrier1 Systems, LLC., Delta Scientific Corporation, EL-Go Team, and Teledyne FLIR LLC, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.