Outlook of the security appliance market
Technavio’s market research analyst predicts the global security appliance market to grow impressively at a CAGR of more than 11% during the forecast period. The increasing domestic and international security threats is a primary driver of the growth of the security appliance market size. Since 2010, there’s been a significant rise in criminal activities and data theft worldwide. The loss of data from organizations can be detrimental as they contain confidential information. Therefore, surveillance devices are used to track the individuals involved in such criminal activities. This market is expected to witness an augmented adoption of monitoring and surveillance devices to prevent the unauthorized access to information and property,
Technavio anticipates the increasing adoption of IP-based video surveillance solutions to aid market growth in the coming years. IP surveillance systems include video recorders, cameras, and storage devices. Moreover, private and public financial institutions have started using HD cameras, as they have high-quality imaging and provide up to 180 days’ worth of video storage. With various institutions adopting IP cameras for surveillance, this market’s growth has a positive outlook until the end of 2020.
Segmentation by end-users and analysis of the security appliance market
- SMEs
- Government organizations
- Large enterprises
The large enterprises segment accounted for more than 43% of the market share during 2015 and is expected to retain its market leadership until the end of 2020. An important factor contributing to the growth of this market segment is the rising concern for physical and network security in organizations around the world. Technological advancements and recent changes in corporate culture have led to employees using their devices such as iPhones, Android phones, and tablets for professional work. This has raised the need to secure corporate data and valuable business information from getting leaked and misused. Moreover, the increasing use of mobile banking among end-users has also increased the need for network security appliances. Additionally, the rising number of criminal activities in organizations will lead to an augmented demand for physical security devices in the forecast period.
Geographical segmentation and analysis of the security appliance market
- Americas
- APAC
- EMEA
During 2015, the Americas dominated the market, accounting for more than 42% of the market share. As the dependency on the Internet and wireless technologies is very high in this region, the governments of countries like Brazil, Peru, Chile, and Columbia are making substantial investments on network security appliances to prevent data theft in organizations. Moreover, with the adoption of BYOD (bring your device) policy in organizations, the need for network security appliances has increased. The US is the largest market in North America, but many organizations in South America are also adopting physical security appliances. Such developments will drive the market in this region during the forecast period.
Competitive landscape and key vendors
The global security appliance market is highly fragmented owing to the presence of many multinational and regional vendors. Security appliance companies often acquire small vendors to increase their product portfolio and increase their market presence. The competition in the market will increase due to solution extensions, technological innovations, and mergers and acquisitions.
The key vendors in the security appliance market are -
- Bosch Security Solutions
- Honeywell Security
- Tyco
- Check Point Software Technologies
- Fortinet
- Jupiter Networks
Other prominent vendors in the security appliance market include ALL-TAG, Arecont Vision, Assa Abloy, Avigilon, Axis Communications, Check Point Software Technologies, Checkpoint Systems, Future Fibre Technology, Genetec, Gunnebo, H3C Technologies, Hewlett-Packard Enterprise, Hikvision Digital, Kaba Holding, Ketec, Magal Security Systems, March Networks, MOBOTIX, NAPCO Security Systems, Nedap, Panasonic, Qognify, Safran, Samsung Techwin, Siemens, Skybox Security, Sophos, and videoNEX.
Key questions answered in the report include
- What will the security appliance market size and the growth rate be in 2020?
- What are the key factors driving the global security appliance market?
- What are the key market trends impacting the growth of the security appliance market?
- What are the challenges to the security appliance market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global security appliance market?
- What are the trending factors influencing the security appliance market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the security appliance market?
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