The security control room market is expected to grow from USD 7.20 Billion in 2018 to USD 10.00 Billion by 2023, at a CAGR of 6.80% between 2018 and 2023. Government initiatives, modernized policies, and regulations to increase public security and safety worldwide, as well as the increasing need to keep an eye on criminal activities and forecast natural disasters to avoid huge losses, are the major drivers for the security control room market.
The security control room market in APAC is expected to grow at the highest CAGR between 2018 and 2023. Owing to the growing population in APAC, it is expected to be the fastest-growing market for security control room technologies in the near future. Increasing developments in the field of transportation, communication, public infrastructure, and construction are expected to create demand for public safety and control rooms.
Control room technology has different types of offerings including displays/video walls, KVM switches, software, and services. Service offerings include installation, managed services, and maintenance and support services. Efficient services are an integral part of a control room as well as being able to work effectively in a critical working environment.
The market for utilities and telecom vertical is expected to grow at the highest CAGR between 2018 and 2023. The growth of this segment is mainly driven because control rooms help utilities and telecom segment for monitoring and tracking dispatch units as these industries require time-critical material to be delivered for proper execution of various tasks.
The market for industrial safety applications is expected to grow at the highest CAGR between 2018 and 2023. Industrial safety applications are evolving at a high rate as these are mainly used in manufacturing plants such as oil & gas and nuclear plants. Along with the growing industrialization worldwide, the need for industrial safety systems is increasing to protect human resources, industrial machinery, and manufacturing plants, in case any process goes beyond the allowed control margins. A control room in industrial safety plays a critical role as it deals with critical operations taking place in a controlled environment.
Security Control Room Market by Offering (Display, KVM Switch, Software, Services), Application (Public, Corporate, Industrial Safety), Vertical (Transportation, Utilities & Telecom, Defense, Healthcare), and Region - Global Forecast to 2023
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