The global security room control market is expected to grow at a compound annual growth rate of 10.27% over the forecast period to reach a market size of US$12.513 billion in 2027, from US$6.313 billion in 2020.
Security room control is a special facility that consists of security analysts and managers that build up the information security team. This team monitors and handles the security of an organization on a regular, 24/7 basis. The facility uses both hardware and software devices like CCTVs, computer systems, standard alarm technology, electronic systems, laser Sonics, wired mics, perimeter intruder detection system, etc., to monitor and enhance the security of the organization. The security control rooms are widely used in industries such as healthcare, defense, power plants, etc., that usually require a high level of security monitoring. Increasing thefts, online attacks, attacks, and crimes are the primary reason for spreading awareness about the security room controls driving its market. Growing advancement technologies are expected to play a key role in developing the market in the coming years.
Increasing crime activities is the major driver of the market:
With the increasing crime rate across the economies, including thefts, burglary, and attacks, the awareness about the installation of security control rooms has increased among the people, which is the primary factor that is driving up the demand for security control rooms. For instance, as per United Nations, in 2017, 4,64,000 people were the victims of homicide, with an average homicidal rate of 6.1 victims per 1,00,000. The homicide rate was recorded highest in America, standing at 17.2, with Africa following it at 13.0. With such a rate, the need for global security control rooms cannot be unnoticed. The increasing government initiatives on adopting security systems are also an important driving factor for the industry.
Technological advancements are expected to play a crucial role in developing this industry. With Artificial Intelligence being adopted in every sector and the Internet of Things that has enhanced connectivity, global security room control is expected to be adopted at a wider stage in the coming years. The increasing investments in 4G and 5G technology and the growing use of smartphones and tablets have had a considerable impact on the market growth over the years. Increased technological advancements have paved the way for Security Operations Centers (SOC) and Network Operation Centers (NOC) that provide an integrated technology of sensors and analytics software. It uses a cloud-based service suitable for data monitoring and asset management. For instance, large-scale adoption of LED Video Walls along with Big Data Base Management Systems that use Storage Area Networks (SANs) and Media Asset Management (MAM) software has become increasingly popular in security operation centers.
Huge installation cost remains a major challenge:
The major restraint to the global security room control market is the considerable investment cost associated with it. The equipment and components that comprise the whole system make it expensive to be installed by every organization and body, which has restricted its use to government bodies, defense organizations, and large firms. This factor has also restricted the market's growth in underdeveloped countries, thus restricting the expansion of the market in these areas.
Impact of COVID-19 Pandemic on the Security Room Control Market:
With the onset of COVID 19, along with the lockdown, lack of labor, curfew, social distancing, etc., the global security room control market witnessed a negative impact. Due to the shutting down of organizations and lack of labor, the demand to keep a security check on the security of the organization went down. With no industry allowed to function with full labor, the supply of global security room control market hardware also went down. However, with the operations back on track, the market is expected to drive again in the coming years due to the increasing demand for control rooms and growing technology.
|Market size value in 2020||US$6.313 billion|
|Market size value in 2027||US$12.513 billion|
|Growth Rate||CAGR of 10.27% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product, Application, Industry Vertical, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Hexagon Safety & Infrastructure, ABB, SPF Specialized Furniture, Barco, Codan, Motorola Solutions, Christie Digital Systems U.S.A, INC., Eizo Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the security room control market size by 2027?
A1. The global security room control market is expected to reach a market size of US$12.513 billion by 2027.
Q2. What is the size of the global security room control market?
A2. Security Room Control Market was valued at US$6.313 billion in 2020.
Q3. What are the growth prospects for the security room control market?
A3. The security room control market is expected to grow at a CAGR of 10.27% over the forecast period.
Q4. How is the global security room control market segmented?
A4. The security room control market has been segmented by product, application, industry vertical, and geography.
Q5. What factors are anticipated to drive the security room control market growth?
A5. Increasing thefts, online attacks, attacks, and crimes are the primary reason for the increasing awareness about the security room controls that are driving its market.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL SECURITY ROOM CONTROL MARKET ANALYSIS, BY PRODUCT
6. GLOBAL SECURITY ROOM CONTROL MARKET ANALYSIS, BY APPLICATION
6.2. Industrial Safety
6.3. Public Safety
7. GLOBAL SECURITY ROOM CONTROL MARKET ANALYSIS, BY INDUSTRY VERTICAL
7.2. Oil and Gas
8. GLOBAL SECURITY ROOM CONTROL MARKET ANALYSIS, BY GEOGRAPHY
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.2. South Africa
8.5.4. Saudi Arabia
8.6. Asia Pacific
8.6.6. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Hexagon Safety & Infrastructure
10.3. SPF Specialized Furniture
10.6. Motorola Solutions
10.7. Christie Digital Systems U.S.A, INC.
10.8. Eizo Inc.
Hexagon Safety & Infrastructure
Christie Digital Systems U.S.A, INC.
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