Global Commercial Security System Market Analysis 2022
The Global Commercial Security System Market is expected to reach $479.23 billion by 2028 growing at a CAGR of 10.9% from 2021 to 2028. Commercial security is a system through which properties, and data are secured with an interconnecting device. The devices include sensors and actuators to ensure safety.
Factors such as the rising number of terrorist attacks and organized crimes and the growing construction industry are driving the growth of the market. However, high installation costs are restraining the growth of the market.
Based on service offering, the video surveillance service segment is going to have a lucrative growth during the forecast period due to the increasing importance of VSaaS in various application areas due to benefits such as remote access and management.
The key vendors mentioned are UTC Fire & Security, United Technologies Corporation, Nortek Security and Control, Johnson Controls, Honeywell International, Hikvision, Godrej & Boyce Manufacturing Company Limited, Dahua Technology, Bosch Security Systems, Allegion and ADT Security Services.
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