Global Homeland Security Market is Estimated to Reach $479.3 Billion by 2024, Says Accurize Market Research
Global homeland security market report published byAccurize Market Research forecast that the global market is expected to reach $479.3 billion by 2024; growing at a CAGR of 6.4% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Growing risk of terrorist attack, increasing IT modernization and practice of technology in defenseacross the globe to drive the growth of the market
Growing risk of terrorist attack, increasing IT modernization and practice of technology in defensefuels the demand for the global homeland security market. Moreover,increasing cases of cybercrime and cyber scam also boost the growth of the market.
The global homeland security market has been bifurcated on the basis of type, and geography. By type segment, the market is categorized into aviation security, maritime security, border security, critical infrastructure security, cyber security, CBRN security, mass transit security and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World covers South America, Middle East, and Africa.
“Cyber Security accounted for the largest market share in the type segment ", says Accurize
By type segment, cyber Security accounted for the major market share in 2017 and is estimated to continue its dominance during the forecast period 2017-2025. The general IT transformation has significantly enhanced record keeping and management of cases across the internal safety unit and has gained wide approval, increasing the need for actual knowledge, control and intelligence apparatus for the first responders led to the need for effective security systems.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted the largest market share of 27.9%, owning to well-developed economy.Asia-Pacific is anticipated to achieve the fastest CAGR of 7% during the forecast period 2017-2025, driven by the expanding needs for cybercrime control and also due to increasing focus on security services in the region.
Top players in the market
The key market players include FinmeccanicaspA, Harris Corporation, IBM Corporation, General Dynamics Corporation, Northrop Grumman Corporation, Unisys Corporation, L-3 Communications Holdings, Inc., and SAIC among others.
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