In recent years, there has been a growing focus on developing a secure economy. The focus has helped in augmenting the demand for high end security solutions. The global security solutions market has thus been thriving in the wake of growing defense budgets. In addition to this, the market has benefitted from rising investments in the research and development activities and increasing need for safeguarding the IT industry. In the coming years, it is projected that the growing use of sensor based security systems and biometric based security systems will play a key role in the overall development of the global market. Furthermore, increasing use of IoT and cloud services will also have a key influence on defining the growth trajectory of the global security solutions market.
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Rise of Sophisticated Attacks to Drive Market Growth
Security solutions are mainly developed for variety of end users such as housing developers, investors, research organizations, network providers, system integrators, software solution providers, trade distributors, and product manufacturers among others. An increasing need for security solutions to safeguard rights, individuals, and property is projected to fuel the overall development of the global security solutions market. An increasing number of developments in the field of technology, IoT, defense, construction, and others are also expected to help in the development of the global market in the near future. The growing sophistication in the nature of attacks and malicious attempts both internal and external have also helped in driving the market growth in recent years.
Some of the leading players operating in the global security solutions market are Zhejiang Dahua Technology Co., Ltd., Control4, ASSA ABLOY AB, Honeywell International, Inc., Bosch Security Systems, Tyco International Ltd (U.S.), UTC Fire & Security, ADT Corp, Alarm.com, Allegion, Godrej & Boyce Manufacturing Company Limited, Ingersoll Rand Solutions, Nortek Security & Control LLC, SECOM Co., Ltd, Hikvision Digital Technology Co. Ltd, Stanley Security Solutions, and Axis Communications AB.
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