Market Size And Forecast: Building Security Technology 2022-2028 (Global)
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Executive Summary
The need to protect properties and their occupants continues unabated. This report helps security and facilities operations technology suppliers, professionals and investors understand the current state and size of three global physical security technology markets – access management, surveillance and centralized security management – and the trends and drivers that will shape the market into 2028. The Verdantix market size and forecast model factors an analysis of macro-economic and industry drivers, disclosed and calculated supplier revenue figures, and customer insights from primary and secondary research. Combined, Verdantix valued these three markets at $36 billion at the close of 2022, and forecasts them to grow at an aggregate CAGR of 9.3%, reaching $60 billion by 2028. A sizing and forecast for each functional market by geographic region are provided, along with a size breakdown by building asset categories, and software versus equipment revenues.
Table of contents
Digital advances, shifting business models, and enlightened value propositions spark spending on physical security technologySecurity is a vast and mature market, yet continuously evolving
Access, surveillance and centralized security management software and equipment sales amounted to $36 billion globally in 2022
Technical innovations are helping to spawn a wave of security technology upgrades
Economic factors impact regional spend across functional security markets
Shifting industry and building asset category dynamics are broadening opportunities in the security technology market
Physical security technology value propositions continue to rise
Access, surveillance and centralized security management markets combined will reach $60 billion by 2028
The world of physical security will increasingly emphasize themes of convergence
Table of figures
Figure 1. Functional security technology market category definitionsFigure 2. Security market size and forecast model: geographic composition
Figure 3. Building asset category definitions
Figure 4. Verdantix market size and forecast methodology
Figure 5. Security technology spending by primary functional market and region, 2022
Figure 6a. Percentage spend by primary security market and building type, 2022
Figure 6b. Percentage spend by primary security market and building type, 2022
Figure 6c. Percentage spend by primary security market and building type, 2022
Figure 7. Global security technology forecast by primary functional market, 2022-2028
Figure 8. Access management technology by region, 2022-2028
Figure 9. Surveillance technology by region, 2022-2028
Figure 10. Centralized security management by region, 2022-2028
Figure 11. Composition of the primary market: software and equipment, 2022 and 2028
Organisations mentioned
ACRE (Triton), Alarm.com, Alcatraz AI, Alert Enterprise, AlertMedia, Allegion, Allied Universal, AMAG Technology, American Civil Liberties Union (ACLU), Apple, Avigilon (formerly Ava and Openpath), Axis Communications, Bosch, Brivo, Canon, Cisco Meraki, Cloudvue, Cogniac Corporation, Cohesion, Dahua, dormakaba Group, Eagle Eye Networks, Envoy, Everbridge, Feenics, Genetec, Hexagon, HID Global, Hikvision, Honeywell, Identiv, iLobby, Johnson Controls (JCI), LenelS2, Les Roches Marbella, Motorola, NAPCO Security Technologies, ProdataKey (PDK), Quanergy, Salient Systems, Sharry, Siemens, Sine Group, Soloinsight, Stanford University, Tempered Networks, Thales, University of Hull, US Institute of Education Sciences (IES), Verkada, Vitaprotech, WaveLynxAbout the authors
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