High growth potential in the security systems market
The security systems market has considerable growth potential in the coming years, in a scenario characterised by the rapid development of new solutions based on technological innovation, especially in the field of artificial intelligence, and their increasing role as a substitute for face-to-face surveillance services, according to the DBK Sector Observatory.
According to the DBK Sector Observatory of INFORMA (a subsidiary of Cesce), after a slowdown in growth in 2020 due to the impact of the health crisis, the value of the security systems market increased by 6.1% in 2021 and 4.2% in 2022, reaching 2.71 billion Euro in the last year. Thus, the activity of installation, maintenance and connection to alarm receiving centres of electronic systems continues to act as the main driver of growth in the private security business.
The new security protocols implemented in the wake of the Covid-19 pandemic have accelerated the trend of replacing face-to-face surveillance services with electronic security systems, supported by technological development, which allows the marketing of equipment with increasingly advanced features.
Furthermore, the accumulated savings of families, the recovery of home sales and the intense technological and commercial efforts of the leading companies explain the positive performance of the demand for ARC connection services by households in 2022, in addition to the dynamism of the demand associated with the logistics sector thanks to the expansion of online commerce.
More than 1,200 companies
The number of companies authorised to provide installation and maintenance services for security devices, appliances and systems stood at 1,269 at the end of 2021, accounting for 81% of all private security companies. The number of companies registered to operate in the alarm receiving centre (ARC) market stood at 131 at that date.
The security systems market has considerable growth potential in the coming years, in a scenario characterised by the rapid development of new solutions based on technological innovation, especially in the field of artificial intelligence, and its increasing role as a substitute for face-to-face surveillance services. However, the decline in economic activity is expected to slow down the pace of growth in turnover in 2023.