Wednesday, 21 October 2015

Homeland Security Market Outlook and Shares up to 2020

The global homeland security market is expected to grow at a CAGR of 5.6% during the forecast period from 2014 to 2020 and reach a market size of $364.44 billion by 2020. The market was once valued at $245.72 billion in 2013.

Browse the full Homeland Security Market report at http://www.transparencymarketresearch.com/homeland-security-market.html

Homeland Security Market Overview

The array of homeland security technologies and equipment is as varied as the perceived risks and threats to national security. The threat of piracy, cross border terrorism, human trafficking, drug trade, cybercrime, separatist movements, internal dissent – are some of the most critical driving factors of the homeland security sector.

The homeland security products include equipment used for protecting the nation from threats by terrorists and other anti-social organizations. These products provide recovery options and resilience in case of any unprecedented and unforeseen attacks. The homeland security market is highly competitive with number of key participants vying for contracts and financial condition that would increase competition in the global market.

Western countries are spending more on surveillance systems, cyber security, General IT modernization equipment, and other communications systems that has effectively improved the record keeping across various internal security departments. Such aspects have gained wide acceptance across different sectors of the world, and are yet seen as growth drivers in the homeland security segment.

The market study on homeland security market recognizes various drivers and restraints affecting the industry in the years to come.

Major Growth Factors

One of the major growth factor driving the market is the initiatives taken by several governments to restrict the increasing terrorist activities and cross border insurgency. The initiatives undertaken by governments are bolstering the market for homeland security products. Moreover, drug smuggling, rising cases of illegal immigration, and human trafficking are certain added significant factors compelling the worldwide governments to invest in procurement of homeland security products.

Illegitimate activities such as, drug trafficking, illegal trading of arms and ammunitions, and immigration has led to installing security solutions at geographic borders and seaports. Other private and public places have also highlighted an increase in demand for body scanners, explosive detection systems, and baggage screening systems to avert any terrorist attacks on the homeland. Also, adoption of UAVs (unmanned aerial vehicles) by global armies and military forces for border surveillance has influenced the growth of this market.

Major demands for security solutions and products to safeguard increasing cyber-attacks are significant factors to the growth of this market.

Speaking of the government initiatives undertaken to enhance homeland security services these include TECS Mod program undertaken by the U.S., Sisfron program undertaken by Brazil, and Project Cytoon undertaken by South Africa, among many others.

Market Segmentation – By Type

Considering the market for homeland security based on the security type, the overall sector is categorized into eight major parts. They are maritime security, border security, cyber security, CBRN security, critical infrastructure security, aviation security, mass transit security, and others (C3I, public safety, and counter terror intelligence).

Amongst them, the cyber security segment accounted for 39.31% (largest) market share globally in 2013. The segment is expected to rise at a CAGR of 5.8% in the forecast.

Regional Analysis

The homeland security market is fragmented and some of the most renowned tier-1 players are from the U.S. and European regions. North America is the commanding regional market because of its technological advancements and effective spending capacity in the defense sector. This region is closely followed by the Asia Pacific which includes countries such as China and India. Owing to considerable investments in military technologies all these countries are contributing to the overall growth of this market.

Furthermore, the European region is another promising market that has shown a rapid expansion for security products in order to counter terrorist threats. Meanwhile, growth in the rest of the world (RoW) is largely driven by countries such as, Brazil, UAE and Turkey.

The aforementioned geographic regions have acquired the respective technology and know-how of homeland security services and therefore, hold major shares and have an active presence across the globe.

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