A MarketsandMarkets report projects the industrial security systems market to hit $38 billion by 2020 from $25 billion in 2014.
The report indicates that the market will achieve an 8.69 percent compound annual growth rate over the six-year forecast period, ASDReports said Wednesday.
The analysis covers the industrial security systems market for the North America, Europe, Asia-Pacific and Middle East regions.
MarketsandMarkets calculates the total spend by region on video surveillance, access control and intrusion detection systems.
The report also highlights industrial, technological and market trends as well as drivers and restraints that affect the security systems market.
Company profiles from key market players Honeywell International, Bosch Group, Cisco Systems, L-3 Communications Holdings, Securitas AG, Johnson Controls, Schneider Electric, Tyco International and Alliance Systems Integrators are included in the study.