Integrated Security Services Market Expected to Reach $55.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Integrated Security Services Market, By Type (Compliance Management, Identity And Access Management, Theft Management, Others), By Deployment Mode (On-Premise, Cloud), By Enterprise Size (Large Enterprise, Small And Medium Enterprise), By Industry Vertical (BFSI, Healthcare, IT And Telecom, Retail, Energy And Utilities, Manufacturing, Others): Global Opportunity Analysis And Industry Forecast, 2022-2031". The integrated security services market size was valued at $15.8 billion in 2021, and is estimated to reach $55.5 billion by 2031, growing at a CAGR of 13.7% from 2022 to 2031.

Integrated security services offer a wide range of products and solutions to meet the security requirements of the customers. It focuses on emerging technologies that enable to design and build security systems that are scalable and integrated to accommodate any technological situation. Furthermore, the objectives of integrated security services are to identify unauthorized activities and thefts with more reliability and delay them until an effective response/engagement can be accomplished. Moreover, it offers a multi-layered security system and integrates them into one solution. It plays a major role in the business environment empowering companies to accomplish their growth initiatives and set targeted benchmarks.

For instance, Integrated Security Services (ISS) through partnerships with Lenel Systems International, Exacq Technologies, Salient Management Company, OnSSI, Axis Communications, Panasonic and Sony, provide user-friendly open architecture solutions that drive industry standards. To provide a broad range of customers with unlimited muscle power to deal with safety and security risks, it offers the most advanced open architecture platform on the market with which to address defense-centric concerns such as mobile access operations, SCIF installations, advanced mustering, absolute intrusion detection control from command keypads, and advanced smart card and biometrics credentialing.

By enterprise size, the large enterprises segment dominated the global market in 2021, and is expected to continue this trend during the forecast period as cloud integrated security technology offers numerous benefits for large enterprises, boosting growth of the integrated security services market in large enterprises. Conversely, the small- & medium-sized enterprises segment is expected to grow at the highest CAGR during the forecast period for integrated security services market, owing to surge in adoption of cloud-based services, as it provides cost-effective and efficient solution for SMEs. In addition, increasing investement in adavnced technologies such articficial intelligence (AI), IoT and others and growing demand of digitalization are expected to provide lucrative opportunities for the market growth.

Region wise, the integrated security services market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its higher expenditure on advanced technological solutions and growing demand for the cloud based services propel the growth of the market in the region. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the growth in number of startups and the expanding infrastructure in the region, which is expected to fuel the growth of the integrated security services industry in the region during the forecast period.

The COVID-19 pandemic caused a significant change in consumer preferences toward integrated security services. As several banks and fintech providers were implementing integrated security services to their institutions. Moreover, integrated security services can support accessibility to financial services and deliver a high-quality security experience. In addition, the COVID-19 pandemic has been the major catalyst in the acceleration of the take-up of integrated security services among various end users such as healthcare and retail for enhanced security of the all the systems. 

Key findings of the study

• By type, the identity and access management segment led the integrated security services industry in terms of revenue in 2021.
• By enterprise size, SMEs registered highest growth rate in integrated security services market analysis.
• By deployment mode, the on-premises segment accounted for the highest integrated security services market share in 2021.
• By region, Asia-Pacific generated the highest revenue in 2021.

The report analyzes the profiles of key players operating in the integrated security services market such as Broadcom, CGI Inc., Cisco Systems, Inc., DynTek, Inc., Honeywell International Inc., IBM Corporation, Microsoft, Optiv Security Inc., Sophos Ltd., and Trend Micro Incorporated. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.