The new research report –created specifically for SIA and ASIS members– shares critical insights on the macroeconomic importance of the security market, examines how technology is changing the market and offers assessments of the industry by technology, geographic region and vertical market

ASIS International and the Security Industry Association have released ”Complexities in the Global Security Market: 2024 Through 2026”, a new research report that provides insights into the equipment, technologies, and employment of the global security industry, including regional market breakouts. SIA and ASIS partnered with global analytics and advisory firm Omdia to complete the research.

This exclusive report –produced for SIA and ASIS members– provides new global market statistics for the security equipment and service markets, including the entire route to market from the equipment and software companies manufacturing the technologies to the service providers deploying them through to the end users using the security and life safety solutions in their daily roles. The publication was designed for practitioners in corporate, organizational and private security roles, as well as security solutions providers and equipment manufacturers, and is also relevant for others interested in the security market, including investors, academics and government officials.

Key research findings include:

• The global physical security equipment market is expected to be worth $60.1 billion in 2024, as the industry continues to recover following the COVID-19 pandemic and grow to $70 billion by 2026.
• The overall physical security equipment and services market is much larger, totaling $405 billion in 2023 and projected to grow to nearly $500 billion by 2026.
• The physical security market employs more than 30 million people worldwide, with 210,000 of those being in the equipment market, about 7.87 million in the services market and 22.6 million working as security end users.

“The Complexities in the Global Security Market report presents critical economic insights on the importance of the global security industry and offers a valuable snapshot of where we are moving over the next three years,” said SIA CEO Don Erickson.

“Through a collaborative effort between SIA and ASIS, we are pleased to present new and useful data and trend insights on the direction of the physical security market, employment and the influence of technological change to our members. We hope that our members will leverage this report to shape their future business strategies.” 

The report also includes analyses of regional demand, solution requirements, economic conditions, service and equipment preferences, and political challenges, as well as the impact of technology trends like artificial intelligence and cloud computing.

“The industry has long needed a study to understand the scope and breadth of the security sector, which is important economically just as it is vital to ensure we have secure and safe workplaces around the world,” said Peter O’Neil, FASAE, CAE, CEO, ASIS International.

“We are proud to have worked with the Security Industry Association on this groundbreaking research. The strength, vitality, and importance of the security industry has never been more apparent.”

ASIS is recognized as the premier source for learning, networking, standards, and research. Through its board certifications, award-winning Security Management magazine, and Global Security Exchange (formerly the Annual Seminar and Exhibits)—the most influential event in the profession—ASIS ensures its members and the security community have access to the intelligence and resources necessary to protect their people, property, and information assets. visit: asisonline.org.

SIA protects and advances its members’ interests by advocating pro-industry policies and legislation at the federal and state levels, creating open industry standards that enable integration, advancing industry professionalism through education and training, opening global market opportunities and collaborating with other like-minded organizations. As the premier sponsor of ISC Events, expos and conferences, SIA ensures its members have access to top-level buyers and influencers, as well as unparalleled learning and network opportunities. visit: securityindustry.org

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Source: asisonline.org