Global Education Security Market 2024

Global Education Security Market 2024

Security systems within educational environments are intricately designed to safeguard students and educators from a myriad of threats, including diseases, fires, harassment, theft, aggression, and potential assaults by both internal and external adversaries. There exists an imperative need for increased investment in security spending aimed at fostering technological innovation within educational facilities. Video surveillance systems stand out as both cost-effective and efficacious, offering real-time data. In the event of significant security breaches, these systems are pivotal in promptly alerting nearby law enforcement agencies, thereby ensuring the protection of students and staff, in addition to managing routine disciplinary issues.

The market for alarm monitoring services is projected to undergo substantial growth, with estimates indicating a valuation of USD 206 million in 2023. This figure is forecasted to nearly double, reaching USD 399 million by 2029, which corresponds to a Compound Annual Growth Rate (CAGR) of 9.9% throughout the forecast period. Alarm Monitoring Services are instrumental in bolstering the security framework of educational institutions across all levels, ranging from primary and secondary schools to tertiary education facilities. These services encompass the remote supervision of various security alarms and systems, such as intrusion and fire alarms, alongside environmental sensors, to identify any anomalies or emergency situations. The essence of these services lies in the continuous, remote oversight of security apparatus to detect, evaluate, and address security lapses, emergencies, and potential hazards effectively.

Focusing on higher education facilities, the education security market was appraised at USD 315 million in 2023, with anticipations of growth to USD 634 million by 2029. This represents a CAGR of 10.5% for the period spanning from 2024 to 2029. The burgeoning demand for systems such as identity access management and visitor management within higher education campuses is propelling market growth opportunities. Market vendors, including Identisys, Honeywell, and Pelco Products Inc., are at the forefront of providing tailored solutions that cater to the distinctive requirements of universities and colleges. This customization is a significant driver for the adoption of education security solutions in the market.

In the global context, the North America segment of the education security market was valued at USD 233 million in 2023, with projections indicating an ascent to USD 477 million by 2029. This growth trajectory translates to a CAGR of 10.8% during the forecast period of 2024-2029. The surge in demand for education security solutions in the North American region can be attributed to several factors, including the rise in school shooting incidents in recent years, the construction of new educational facilities at both primary and tertiary levels, an increase in education budgets, and the introduction of innovative solutions by market vendors. Furthermore, the presence of leading industry players, such as Cisco Systems Inc. and Honeywell Security Group, significantly contributes to the expansion of the education security market in this region.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the service, facility type, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

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The global market for education security can be segmented by service: guarding, pre-employment screening, security consulting, systems integration and management, alarm monitoring services, others. Alarm monitoring services held the highest share in the global education security market. However, the pre-employment screening segment is forecast to register the highest CAGR during the forecast period 2024 - 2030.

Education security market is further segmented by facility type: primary and secondary facilities, higher education facilities, others. According to the research, the higher education facilities segment had the largest share in the global education security market, representing more than 45.6% of the total market.

Based on region, the education security market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America held the highest share in the global education security market. However, Asia-Pacific is forecast to register the highest CAGR during the forecast period 2024 - 2030.

The report also provides analysis of the key companies of the industry and their detailed company profiles including Hangzhou Hikvision Digital Technology Co., Ltd., Axis Communications AB, Honeywell International Inc., Siemens AG, Robert Bosch GmbH, Zhejiang Dahua Technology Co., Ltd., Panasonic Holdings Corporation, Cisco Systems Inc., Pelco Incorporated, Securitas AB, Costar Technologies, Inc., Verkada Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global Education Security Industry Analysis:

i.) Service

• Guarding
• Pre-employment screening
• Security consulting
• Systems integration and management
• Alarm monitoring services
• Others

ii.) Facility type

• Primary and secondary facilities
• Higher education facilities
• Others

iii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America