Education Security Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Education Security Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Education Security Market revenue is expected to grow at a CAGR of 8.23% over the next five years. The rise in attacks on educational institutions primarily drives the education security market. Universities and institutions have technologically sophisticated security systems to offer suitable protection measures.

Key Highlights

• The structure of educational institutes across different nations varies considerably, and these variances affect the approach to and support for violence prevention and intervention. Significant variation exists in educational standards between students and teachers, quality of teaching, teacher support, and infrastructure among developed, developing, and underdeveloped nations. In addition, different security systems and services drive growth in the education security market. The security systems protect students and teachers from disease, fire, harassment, theft, aggression, and attack from internal and external forces.
• Advanced technological innovation in education facilities needs greater security spending. Video surveillance equipment is affordable and provides real-time insights. This equipment is used to protect students and staff during major security incidents and to deal with routine disciplinary issues. Deployments of such electrical equipment will drive new growth opportunities for the education security market.
• When implementing any hardware or software safety product, the faculty must be trained to use those hardware and software tools. This is the most important step that needs to be considered by hardware (electrical and mechanical security products) and service providers. The educational security market can expect to grow further by providing additional support services.
• The worldwide concern for school safety has evolved. For Instance, In May last year, A teenage gunman shot 19 children and two teachers in a Texas elementary school. Further, to avoid such crime incidents, the educational institutes need to install security and provide electronic products (e.g., alarms, access controls, video surveillance, contraband detection), mechanical products (e.g., locks, security storage equipment, door security hardware), and services (e.g., guarding, alarm monitoring, systems integration, security consulting, pre-employment screening).
• During the COVID-19 pandemic worldwide, governments began implementing measures to limit the spread of the coronavirus by closing education institutes (schools and other educational institutes) and moved online. Since the educational institutes were closed, spending on security-related products and services declined. In the post-COVID-19 scenario, security-related concerns are growing significantly. Education institutes are increasingly investing in security-related products (electrical and mechanical security) and services.

Education Security Market Trends

Increasing Building Construction Drives the Market Growth

• Increasing education security spending will benefit from a rebound in educational building construction expenditures. For Instance, India and Nepal plan to construct a new building for Shree Bal Mandir Secondary School in Udayapur District. For this project, the government of India has allocated USD 0.38 million. New school construction increases the demand for safety and security systems and thus creates new growth opportunities for the education security market.
• Higher education institutions are large, multi-building campuses often constructed with dorms, labs, and large assembly halls. Therefore, security needs to be extensive. Sensors and alarm systems are used in higher secondary facilities to detect chemical, biological, and radiological/nuclear hazards in the lab. For Instance, China is constructing a new building for two schools. Alibandeng's comprehensive school project can accommodate about 2,000 primary and middle school students, and the Cap Esterias Middle School program can accommodate about 700 middle school students.
• Furthermore, ongoing infrastructure development activities are expected to create growth opportunities for the market. For Instance, Ireka Corporation Bhd and GAINS Education Group Sdn Bhd signed a Memorandum of Understanding (MoU) to develop education campuses in Terengganu, Kuala Lumpur, Penang, Sarawak, and the Klang Valley. The campuses will cater to both national and international K-12 group programs.
• According to CHDS, nine active shooter incidents were recorded in the previous year. The required facility systems, such as electrical and mechanical security, must be installed during construction to avoid such incidents while constructing schools.

North America is Expected to Register Significant Market Growth

• In North America construction of new schools and institutes is growing. Higher education institutions generally include residential facilities and laboratories with costly and sensitive equipment. Therefore, their security needs are relatively extensive and involve more expensive systems. Primary and secondary institutions generally need single-building campuses. Security products such as access control systems, video surveillance equipment, alarms, and door lock systems must be installed in the building during construction to protect the students during the day. Other institutions, such as daycare centers, tutoring facilities, and non-degree-granting schools, need access control and door lock systems installed during the construction.
• According to FMI Corporation, education construction is expected to grow in the United States with a CAGR of 3.15% from 2021 to the current year. Such construction activities will increase the demand for the education security market across the region.
• Higher education institutions are large, multi-building campuses often constructed with dorms and labs. The United States (U.S.) and Canada have experienced the highest growth in the region's campus and school security market, primarily because of rising education security spending caused by high construction costs for educational facilities and increased cutting-edge products like I.P. video surveillance cameras.
• According to the Honeywell report, 93% of surveyed facility managers within the education vertical say they have experienced at least one emergency incident stemming from infrastructure malfunction during the last 12 months, and 43% report a physical site or cybersecurity breach in that time. Nearly half (45%) say they rank site security (video surveillance and campus access control) or fire and life safety systems as a top priority over the next 12 to 18 months. This indicates that security and safety are the top priorities for educational institutes and school campuses.
• Key players in the education security market provide security systems and services for various schools and institutes. Electronic access control systems are rapidly changing as a result of advances in technology. New capabilities, such as biometric reader locks, provide more robust school safety capabilities. For Instance, Honeywell installed a Honeywell NetAXS-123 access control system in St. Eugene School, located in ox Point, Wisconsin, U.S., for security purposes.

Education Security Industry Overview

The Education Security market is highly competitive. Key players in the market dominate the market in terms of market share. Moreover, the variables are involved in various mergers and acquisitions and product innovation, among others, to gain a competitive edge over others.

In July 2022, Cisco introduced the next-generation hybrid-cloud-enabled scalable video surveillance management solution.

In July 2022, Allegion PLC acquired Stanley Access Technologies LLC (Access Technologies). Through this acquisition, the company aims to become an expert in providing safety and security services.

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