Global Security Market

GMI Research anticipates that the Global Security Market will witness a significant annual growth rate over the forecast period (2021-2028).

The factor driving the growth of global security market includes rising terrorism activities, fraudulent practices by hackers, emerging need for adopting high quality surveillance and Government’s strict regulations towards security measures.  The integration of automation, artificial intelligence and machine learning in security systems along with increasing defense expenditures by Countries around the world, is expected to propel the global security market in coming years. As per the report from, Stockholm International Peace Research Institute (SIPRI), India's military expenditure was $76.6 billion in 2021, and becomes third largest military spender in the world.

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However, the growth of global security market is hindered due to high cost associated security and surveillance systems such as wireless Cameras, video doorbells, biometrics etc. Moreover, the increasing number cyber security attacks and data theft could restrict the growth of security market in the future. As per the report from IBM Research, the average cost of a data breach in UK went down nearly £2.7 million.

System – Segment Analysis

Based on the system, video surveillance systems segment is projected to hold a significant share in the market owing to the rising demand for spy cameras, IP cameras, and other for the security equipment required in residential buildings, commercial spaces along with its usage in the defense and military sector.

Service – Segment Analysis

Based on the service, the managed services segment is anticipated to grow at a notable CAGR during the forecast period owing to its benefits such as providing cost effective and top-notch security technology, reducing the chances of security breaches. The increasing usage of mobile devices and wireless technology in security systems.

End-User – Segment Analysis

Based on end-user, military and defense segment is estimated to grow at a notable CAGR during the forecast period due to increasing cross-border terrorism, regime change, infiltration etc. The US Government will provide Ukraine with another $40 billion as Military Aid during the on-going war with Russia.  In addition, rising usage of multispectral cameras, automatic plug-and-play cameras, and others is expected to push the market growth.

Regional – Segment Analysis:

Based on region, North America is projected to hold a significant market share during the forecast period owing to rising number of cyber-security breaches, growing consciousness about the relevance of monitoring systems in residential and commercial areas and increasing expenditure in Defense and Military by Government across the world. As per SIPRI, in 2021 world military expenditure exceeded the two trillion US dollar hallmark for the first time, reaching nearly around $2113 billion.

Market Segmentation

Global Gaming Market by Game Type

• Shooting
• Action
• Adventure
• Strategy
• Sports
• Others

Global Gaming Market by Device Type

• PC games
• Smartphone games
• Tablet games
• Console games

Global Commercial Helicopter Market by Region

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

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