DUBAI, UAE, Oct. 25, 2023 /PRNewswire/ — As per the latest report released by Kings Research, the global Security Solutions Market size was recorded at USD 301.62 million in 2022 and is estimated to reach USD 564.53 million by 2030, exhibiting a CAGR of 8.15% over the forecast period of 2023-2030. The market is experiencing rapid expansion due to the rising implementation of security solutions by businesses in various sectors. Additionally, increased public awareness of security issues, driven by a rise in criminal and terrorist activities worldwide, has contributed to market growth.
The demand for effective security solutions has increased due to the mounting reliance on digital technologies worldwide. The security solutions market encompasses a diverse range of products and services aimed at protecting against various online threats, including malware, phishing schemes, hacking endeavors, and data breaches. Within this market, there is significant competition from both prominent technology companies and specialized security firms.
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Key participants in the global security solutions market are prioritizing partnerships as their prominent strategy to enhance their market share. For instance, in April 2023, Versa Networks and Lumen joined forces to enhance Lumen’s range of network services and security solutions. The firms aimed to tackle various network and application-related attacks, including advanced threat prevention, Zero Trust Network Access, Firewall as a Service, and SD-WAN. Lumen integrated Versa’s SASE software into its expansive network and cloud platform.
Prominent players in the global security solutions market include:
Atos SEAxis Communications ABBosch Sicherheitssysteme GmbHCisco Systems, Inc.Honeywell International Inc.Ingersoll RandLumen TechnologiesPalo Alto NetworksIBMVERSA NETWORKS, INCInquire Before Buying This Report: https://www.kingsresearch.com/enquiry/security-solutions-market-280
Trending now: Innovative Security Solutions Take Center Stage at SDC23 by Samsung
On August 8, 2023, Kamai Technologies, Inc. (NASDAQ: AKAM), a prominent cloud company focused on enhancing and securing online experiences, partnered with World Wide Technology (WWT), a global technology solutions provider. This collaboration aims to deliver Akamai’s state-of-the-art security solutions to WWT’s wide-ranging customer base across the globe.
WWT will seamlessly integrate Akamai’s security offerings into its services for enterprises, service providers, and public sector clients on a global scale. The pivotal aspect of this collaboration is Akamai’s integration into WWT’s Advanced Technology Center (ATC). With a global presence, the ATC serves as a hub for a wide range of technologies, providing customers access to an ecosystem of innovation, research, and forward-thinking insights. Within the ATC, Akamai’s API Security and Guardicore Segmentation solutions are actively deployed to streamline the process of conducting Akamai proofs of concept, labs, demos, and testing for maximum efficiency.
The global Security Solutions Market is segmented as:
ProductsServicesGrowing Adoption of Security Solutions for Diverse Range of Products to Boost Market Development
In terms of type, the products segment led the global security solutions market in 2022 due to the growing adoption of these solutions for a range of products such as wireless systems, wireless fire protection, intruder alarms, access control, and video surveillance. Rapid digitalization has significantly influenced the usage of security software, analytics software, and IoT platforms. These tools are utilized for safeguarding various services such as access control, video surveillance, remote monitoring, fire prevention, and security system integration within the service industry.
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Data Security & PrivacyPhysical SecurityNetwork & CybersecurityApplication SecurityRising Integration of Security Solutions in Physical Security Products to Bolster Market Growth
On the basis of application, the physical security segment holds a prominent position in the global market for security solutions, primarily due to the widespread utilization of these solutions for sprinklers, fire alarms, and extinguishers. The increasing adoption of these solutions in residential and industrial structures is anticipated to positively impact the market landscape. These systems offer cost-effective security measures, along with features such as visible presence, GPRS tracking, rapid response, and active patrolling.
Technological Advancements to Drive Security Solutions Market Expansion
The market for security solutions is being fueled by the increasing use of wireless technology and is further growing due to the development of new technologies including big data and cloud computing. These innovations have made it possible to devise advanced wireless security systems, such as fire detection systems and wireless access control. A more advanced security architecture is being adopted frequently as smart cities emerge and home automation gains popularity. Furthermore, advanced home automation systems are becoming more prevalent due to emerging technologies such as 5G and Al.
The utilization of advanced technologies allows users to remotely control various household devices using mobile devices, thereby promoting home security and preventing unforeseen incidents. The implementation of wireless security systems has significantly enhanced the effectiveness of security solutions. Furthermore, the expansion of smart cities through the construction of commercial and government buildings, motorways, industrial areas, and airports has propelled market growth.
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North America Leads Security Solutions Market Due to Early Adoption of Technologies
North America is the leading region in the global security solutions market and is slated to observe notable progress driven by the early adoption of technologies such as access control, video surveillance, and fire prevention systems. The widespread use of access control for enhanced safety measures is expected to drive market growth. Additionally, mandatory fire protection regulations have led to the incorporation of fire prevention systems in most US buildings. Prevalent utilization of video monitoring for public safety is further augmenting industry revenue. Moreover, the regional market growth is expected to be boosted by the increasing number of security system original equipment manufacturers (OEMs) and service providers.
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Major Points from TOC:
1 Introduction of the Global Security Solutions Market 2 Executive Summary
3 Research Methodology4 Global Security Solutions Market Outlook5 Impact of Russia-Ukraine War
6 Global Security Solutions Market, By Type7 Global Security Solutions Market, By Application8 Global Security Solutions Market, By End-User9 Global Security Solutions Market, By Geography10 North America 11 Europe 12 Asia Pacific 13 Middle East & Africa 14 Latin America 15 Global Security Solutions Market Competitive Landscape16 Company Profiles
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Kings Research stands as a renowned global market research firm. With a collaborative approach, we work closely with industry leaders, conducting thorough assessments of trends and developments. Our primary objective is to provide decision-makers with tailored research reports that align with their unique business objectives. Through our comprehensive research studies, we strive to empower leaders to make informed decisions.
Our team comprises individuals with diverse backgrounds and a wealth of knowledge in various industries. At Kings Research, we offer a comprehensive range of services aimed at assisting you in formulating efficient strategies to achieve your desired outcomes. Our objective is to significantly enhance your long-term progress through these tailored solutions.
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Zetrix and Beitou Launch Digital ID & Driver’s Licence Services on Blockchain
Service is the first global W3C-compliant Verifiable Credential implementation and will be initially used by China domestic users travelling abroad
KUALA LUMPUR, Malaysia, Dec. 10, 2023 /PRNewswire/ — Zetrix, a layer 1 public blockchain platform, today announced the launch of its groundbreaking Digital Credentials platform, ushering in a new era of secure, convenient, and interoperable credentials verification. This innovative solution addresses the challenges of traditional paper-based credentials, offering a range of benefits that will transform the way individuals, organisations, and governments interact in the digital realm.
The launch marks the commercialisation of the collaboration announced on 18th September 2023 between Malaysia’s MY E.G. Services Berhad and China’s state-owned Guangxi Beitou IT Innovation Technology Investment Group Co Ltd (“Beitou”), the IT arm of Guangxi Beibu Gulf Investment Group listed as one of China’s Top 500 enterprises.
The launch was held on 9th December 2023 at Ritz-Carlton Hotel Kuala Lumpur and officiated by Malaysia’s Deputy Prime Minister, Datuk Seri Dr Ahmad Zahid Hamidi.
The service initially will be offered to domestic China nationals who can choose to digitise their National ID or driving licence as a Verifiable Credential (“VC”) on Xinghuo International, the international gateway for China’s national Public Blockchain. Through Zetrix, which is integrated with Xinghuo, the National ID or driving licence VC can then be presented abroad to be authenticated by any verifier wishing to verify the relevant identity or driving licence data according to their needs.
Beitou IT’s integration to China’s nationwide police and transport department databases ensures seamless authentication and digitisation of the documents into VCs.
Furthermore, in view of the immutability of blockchain, verifiers will have the assurance of knowing that the VCs and all data contained in the document are true and genuine.
It is foreseen that besides IDs and driving licences, other important credential documents held by individuals or businesses would also be digitised as VCs in the near future.
Enhancing Security and Combating Breach of Data
The use of digital credentials, with the initial pilot of driving licences based on blockchain technology will significantly enhance security and combat counterfeiting of electronic licences. By leveraging on the Self Sovereign Identity (“SSI”) framework, Zetrix’s Digital Credentials platform enables the real time verification of documents digitised as Verifiable Credentials, providing a robust defence against fraud and forgery.
“In addition to ensuring authenticity, documents digitised as Verifiable Credentials offer the ability for selective disclosure or confirmation of data. For instance, document holders can have their age or their home location verified without actually having to provide their date of birth or full address. This is extremely useful as it protects raw user data from being shared unless absolutely necessary, thus reducing the possibilities of cyber attacks,” explained TS Wong, founder of Zetrix.
Lai Shuiping, Chairman of the Board of Guangxi Beitou IT Innovation Investment Group Co.,Ltd, Lai Shuiping, said: “The China-ASEAN digital driving license cross-border verification platform is jointly developed by Beitou IT and MYEG. The platform will continue to expand into providing more convenient services for communication between citizens of China and ASEAN countries, and promote economic development across the entire region.”
“In future, Beitou IT will further strengthen cooperation with Malaysian enterprises in the field of transportation digitalisation, and promote continuous improvement of intelligent transportation in ASEAN countries,” Lai added.
Multi-Chain e-Wallet for International Travelers
Zetrix’s Digital Credentials platform also leverages a multi-chain e-wallet that is able to store Zetrix’s native tokens as well as VCs from Xinghuo International and Ethereum. This feature facilitates seamless cross chain transactions and simplifies identity and document verification across multiple scenarios, enhancing the experience for travelling individuals.
The digital credentials service exemplifies the World Wide Web Consortium (W3C) standards of Verifiable Credentials and Decentralised Identifiers as Self-Sovereign Identity. This will be a key catalyst to enable a greater interoperability across blockchains and decentralised applications.
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
About Guangxi Beitou IT Innovation Technology Investment Group Co Ltd
Guangxi Beitou IT Innovation Investment Group Co. (Beitou IT) stands as a wholly owned subsidiary of Beibu Gulf Investment Group (Beitou Group), boasting total assets exceeding 300 billion RMB. Established in October 2020 with a registered capital of 1 billion RMB, Beitou IT has emerged as the foremost digital company in Southwest China. Beitou IT strategically concentrates on four primary business domains: ITAI project implementation and operation, IT product R&D, integration and sales, and the development of New Infrastructure. Over the past three years, Beitou IT has successfully undertaken numerous government and enterprise-level projects encompassing digital government, digital transportation, digital port, smart court, and enterprise digitalization.
With a workforce exceeding 400 employees, Beitou IT houses a team of hardware and software engineers, where over 50% hold master’s degrees from esteemed universities. The team includes 2 State Council-subsidized experts, numerous district industrial authorized experts, and a Fin-Tech expert from the ‘Hong Kong, Macao, and Taiwan Talent Project.’ This robust talent pool positions Beitou IT as one of the rare state-owned digital companies capable of independent R&D.
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Sustainability Empowerment, Brand Upgrade VIVOTEK among Taiwan’s Best Global Brands
TAIPEI, Dec. 10, 2023 /PRNewswire/ — VIVOTEK (3454TW), the global leading IP surveillance solution provider, has been selected to the Best Taiwan Global Brands, and consistently earned market recognition. The three development engines of operational excellence, comprehensive brand management, and active promotion of sustainable actions, have elevated the brand above competition to display outstanding brand value.
Best Taiwan Global Brands is organized by the Industrial Development Bureau, MOEA, and valuation is carried out by Interbrand, a global authority on brand valuation; this year, ESG was also included as key standards of valuation. In 2022, VIVOTEK set a record high in revenue with annual consolidated revenue reaching USD $332 million, achieving a growth rate of 82% compared to the same period in 2021. In addition to displaying operational strengths, VIVOTEK also advocated several sustainable actions, while also encouraging its employees to practice environmental protection both at work and in daily life, further earning the approval of the organizer.
“Being selected to Taiwan’s Best Global Brands is a recognition of the company’s strengths,” pointed out Allen Hsieh, VIVOTEK Spokesperson and Director of Global Marketing Division. “Brand power is not just manifested through the technical aspect of products, but also through the CSR aspect. By embedding ESG into our brand’s DNA, we not only adopt sustainable thinking, but also create a differentiated brand image. In the future, VIVOTEK will continue to empower our brand through ESG, while also constantly promoting smart and green innovations of security and protection technology, steering the brand towards greater value of sustainable development.”
Evolution of the brand is the firm starting point of VIVOTEK’s brand management. Through redefining identity and slogan, “We Get The Picture,” VIVOTEK breaks the limitations of the industry to redefine its brand value, establishing its unique status within the security and protection industry. By grasping the opportunity of technical innovation, VIVOTEK combines its hardware advantage and software capability to expand its deployment of security and protection solutions, becoming a leading solution provider, while also actively exploring the market of AI security and protection, such as: successfully launching innovative VORTEX smart cloud surveillance service that focuses on customer needs and accumulating many successful cases around the world. Recently, VIVOTEK was ranked number 12 among a&s Security 50, reaching the highest spot ever, and this is the very manifestation of the brand’s continued improvement of brand competitiveness.
VIVOTEK is a leading surveillance brand that strives for sustainability and began deploying ESG strategy many years ago. Key measures include voluntary publication of sustainability report for six consecutive years, participation in the RE100 global corporate renewable energy initiative, and promotion of renewable energy applications. More recently, VIVOTEK has incorporated the principle of sustainability into its product box design, reutilizing packaging of its products to create eco-friendly smartphone holders. This marks the first time the brand’s innovative sustainability principle has been extended through its products. VIVOTEK also plans to launch a product carbon footprint project in 2024 to facilitate formulation of comprehensive carbon reduction strategy, further strengthening brand development and upgrading sustainable operations.
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Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research
BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.
Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.”
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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- Zetrix and Beitou Launch Digital ID & Driver’s Licence Services on Blockchain
- Sustainability Empowerment, Brand Upgrade VIVOTEK among Taiwan’s Best Global Brands
- Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research
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