Global Security System Integrators Market to Cross USD 14 Bn Mark through 2022
01 Feb 2018 • by Natalie Aster
LONDON – As of 2017, the global security system integrators market was evaluated at USD 9.76 billion. By 2022, the marketplace is set to amount to USD 14.72 billion, registering a CAGR of 8.6%. Factors that are likely to drive the market growth include shortage of skilled cyber security professionals in companies, growing number of network complexities associated with M&A and third-party application deployment, escalating demand for IoT security, expanding Bring Your Own Device (BYOD) trend, enhancing penetration of cloud-based services, amid others.
Still, the security system integration service providers face certain challenges such as low awareness about advanced cyber threats and obstacles in business expansion globally.
Based on security types, the data security segment is predicted to follow an upward trend, posting the highest CAGR through 2022 due to rising adoption of encryption solutions amid companies.
During 2017-2022, the aerospace and defense vertical is likely to capture the mammoth shares of the market.
Region-wise, the global marketplace is predicted to witness the highest CAGR in APAC through to late 2022, particularly due to development of BYOD trend, rising adoption of web and cloud-based applications in emerging economies like India and China. As of North America, it is set to be the largest regional market for security system integrators in terms of size through 2022.
In-depth analysis of the security system integrators market is provided in “Security System Integrators Market by Security Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022” prepared by MarketsandMarkets (M&M).