Security Market Size, Share & Trends Analysis Report By System (Video Surveillance, Access Control Systems), By End-use (Commercial, Industrial), By Service, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the security market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for security market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of security market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Security Market Categorization:

The security market was categorized into four segments, namely system (Access Control Systems, Alarms & Notification Systems, Intrusion Detection Systems, Video Surveillance Systems, Barrier Systems), service (System Integration & Consulting, Risk Assessment & Analysis, Managed Security Services, Maintenance and Support), end-use (Government, Military & Defence, Transportation, Commercial, Industrial), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The security market was segmented into system,service, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The security market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eleven countries, namely, the U.S.; Canada; Germany; the UK.; Australia; New Zealand; China; India; Japan; Brazil; and Mexico.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Security market companies & financials:

The security market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include: 

• Came Urbaco - Came Urbaco is primarily involved in manufacturing retractable bollards and access control systems. The company’s product profile comprises high-security products, including retractable bollards, removable bollards, fixed bollards, and road blockers. The products are compliant with IWA14-1:2013, PAS68:2013, DOS, and ASTM standards that are recognized globally. The company has been operating as a subsidiary of Empeiria Capital Partners, LLC since February 2018.

• B&B Roadway and Security Solutions - B&B Roadway and Security Solutions is a provider of perimeter security solutions. The company provides perimeter protection and anti-terrorist products. It is engaged in the manufacturing, distribution, and servicing of bollards, barriers, crash-rated and engineered wedge barriers, crash beams, and gates to critical standards issued by the Department of State (DOS) and Department of Defense (DOD). The company was founded as B&B Electromatic in 1925 and entered into the perimeter security gate market in 1988.

• Barrier1 Systems, Inc. - Barrier1 Systems, Inc. is a privately-held company offering net barrier vehicle arrestors, electric drop arms, mobile electric drop arms, drop & swing crash beams, ground retractable beams, wedge barriers, bollards, quick connect cable barriers, crowd protection barriers, gate barriers, waterway barriers, projectile barriers, and robust engineered nets, among other products. The company offers maintenance, installation, worldwide shipping, fabrication, submittals, designing, engineering, and testing services for its products and solutions.

• Axis Communications AB - Axis Communications AB manufactures network cameras for video surveillance and security purposes. The company provides end-to-end solutions for small, midsized, and large-scale security systems. The company’s product portfolio includes network cameras, video encoders, network video recorders, audio systems, video management software, physical access control system, system devices, and video analytics products, among others. The company has adopted technologies, such as Zipstream, Lightfinder, HD 4K, Wide Dynamic Range, OptimizedIR, and Electronic Image Stabilization, for product development.

• Avon Barrier Corporation Ltd. - Avon Barrier Corporation Ltd. specializes in perimeter security solutions. Its product portfolio includes road blockers, security barriers, security bollards, turnstiles, sliding automatic gates, and access systems. The company also offers a vast portfolio of parking accessories, including height restrictors, parking barriers, edge protection, lane closure gates, and crash barriers, among others. The company manufactures and distributes its products across the globe.

• ATG Access Ltd. - ATG Access Ltd. is primarily involved in the manufacturing and distribution of perimeter security products. The company’s product portfolio includes telescopic & fixed bollards, automatic bollards, speed gates, blockers & barriers, high-security bollards, and temporary event security systems.

• APT Controls Limited - APT Controls Limited is primarily involved in offering traffic management systems and vehicle access control solutions. The company’s products include hostile vehicle mitigation, parking barriers, bollards, and rising blockers, among others. The company also delivers costeffective and practical perimeter security solutions. The company’s products are tested for reliability and safety as per the industry standards.

• Apex Perimeter Protection - Apex Perimeter Protection manufactures perimeter security products for both commercial and residential applications. The company’s perimeter security solutions include Crimsafe security screens, flood and hurricane protection, ACE window laminates, fencing and railings, gate barrier products, impact windows and doors, and perimeter lighting.

• Apex Fabrication and Design, Inc.- Apex Fabrication and Design, Inc. is a privately-held company engaged in fabricating heavy-duty transportation infrastructure, and designing and manufacturing of custom vehicle access barriers required to protect assets and valuable infrastructure. The company manufactures specialized traffic control products, such as Pointguard, M530, LT Wedge, M30 Bollard, Camera Bollard, and Surface Mount Bollard.

• Ameristar Perimeter Security - Ameristar Perimeter Security provides perimeter security solutions for commercial, residential, and high-end security applications. The company’s perimeter security product portfolio consists of fixed bollards, active barriers, retractable bollards, quick deploy barriers, and fence & gates. The company manufactures fence products and gate products, chain-link fencing frameworks, galvanized steel chain-link frameworks, ornamental fence hardware products, wood gate hardware products, and high-security steel barbed tapes.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Security Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Security Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.