Campus Security Market to Reach $2.54 Billion by 2023
The campus security market is expected to grow due to the increasing threats schools face.
- By Sydny Shepard
- December 12, 2018
According to Market Research Future Analysis, the school and campus security market is expected to grow to $2.54 billion by the year 2023.
The school and campus security market is primarily driven by the growing number of attacks in schools. The increasing criminal actives within school and campuses has leg to the increasing adoption of technologically innovative security systems so that risks such as active shooters can be reduced and proper security systems can be provided.
the security systems used in schools and campuses are cost effective which is boosting the market. The increase in investments from the campus security infrastructure is expected to boost the market over the entire forecast period, from 2018-2023. Government regulations regarding the enhancement of security leaves are also impacting the growth of the market.
The implementation of various access control solutions such as tracker, biometric and card based authentication within the premises are expected to propel the growth of the market. However, privacy concerns are hindering the growth of the school and campus security system market.
Geographically, North-America accounted for the largest market share in the global school and security market, whereas Asia-Pacific is expected to grow at a fast pace over the forecast period, 2017-2023. The global school and campus security market is expected to reach approximately 2.54 billion by the end of 2023 with a 19.7 percent CAGR.
Sydny Shepard is the Executive Editor of Campus Security & Life Safety.