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World Security Services Market
Frost & Sullivan, Dec 2010, Pages: 95
The World Security Services Market study quantifies the total market for security services related to electronic security. The market was valued at €49.76 billion in 2009 and is expected to reach €70.95 billion by 2015, with a compound annual growth rate (CAGR) of 6.1 per cent from 2009 to 2015. The study also identifies the impact of selected emerging technologies in the physical security space, such as SaaS and PSIM. Further geographic segmentation and vertical market contributions are provided.
Research Overview
This Frost & Sullivan research service titled World Security Services Market provides market revenues by region and selected countries, overview of the hosted-services market drivers and restraints, and competitive analysis of the main tier-1 participants. In this research, Frost & Sullivan's expert analysts thoroughly examine the following: security systems such as video surveillance, access control, intrusion detection and fire detection; security services such as installation/integration, maintenance, remote maintenance and SaaS/VSaaS. Verticals include residential, commercial, industrial, government and CIP, healthcare, mass transit, hospitality and education. Among the regions included in the research are North America, Latin America, Asia Pacific (excluding Japan), and Europe, Middle East and Africa.
Market Overview
Traditional Security Services to Steal March over Emerging Technological Equivalents
Emerging security technologies will have a limited impact on the overall services market because of limited end-user demand, immature technologies and distribution channels’ lack of competency in delivery. However, traditional services will still show growth, especially in Latin America and Asia. At the vertical market level, mass transit, government and critical infrastructure will offer the strongest growth prospects, particularly in Western Europe and North America.
“The move to convergence and the consequent need for integrated systems, coupled with technology improvements and migration to IP, are driving the demand for more complex service/solution delivery,” notes the analyst of this research. “In many green field deployments, convergence of physical security with other building control and logical security is becoming the standard and this is driving adoption of SaaS/hosted-based models.” The growing demand for automated and low-latency analysis of physical events and real-time access to distributed information sources, coupled with the need for security, end-to-end identity management and catastrophe resiliency will motivate demand for a solution-based approach. “Many large and medium systems integrators are positioning themselves as solution providers and are building/ acquiring competencies to be able to deliver on their promises therefore providing real value to the end-users,” states the analyst.
Market Needs to Move toward Hosted/Managed Services with Outsourcing to Third-party Provider
Privacy and data protection concerns, together with uncertain economic recovery, are the main restraints for the market. Moreover, the limited penetration of IP systems in many mature and developing markets, coupled with limited end-user demand, are expected to hinder the uptake of hosted-based and, in general, advanced solutions.
“The market for security services needs to move away from product centric offering and move towards hosted/managed services in which operations and maintenance of the systems is totally outsourced to a trusted 3rd party provider,” advises the analyst. “Vendors need to provide return on investment and/or total cost of ownership to end-users and educate them on the advantages that new service delivery platforms could bring to the market.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following security systems in this research:
- Video surveillance
- Access control
- Intrusion detection
- Fire detection
- Integrated systems
By Security Services
- Installation/integration
- Maintenance
- Remote maintenance/SaaS
By Verticals
- Residential
- Commercial
- Industrial
- Government and CIP
- Healthcare
- Mass transit
- Hospitality
- Education
By Geographic Region
- North America
- Latin America
- Asia Pacific (excluding Japan)
- Europe, Middle East and Africa
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