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According to the latest report by IMARC Group, titled “Homeland Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global homeland security market size reached US$ 353.1 Billion in 2020. Homeland security assists in safeguarding a nation against illegal immigration, terrorism, smuggling, cyber frauds, and natural and human-made calamities. It relies on cameras, radars, weapons, explosives and detectors, and thermal imaging devices to identify anti-social threats. At present, there is a rise in the adoption of homeland security solutions worldwide to ensure trade and economic security, protect speech and protests, and prevent terrorizing tactics by domestic terrorists and violent extremists.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Homeland Security Market Trends:
With the increasing terrorist activities and subsequently growing concerns for cyber, maritime, aviation and border security, there is a widespread rise in the adoption of homeland security solutions across the globe. These solutions help public and private organizations in protecting their operations and preventing criminal and illegal activities. The market is further driven by the implementation of stringent government policies to minimize cross-border insurgencies. Apart from this, there is an increase in the deployment of homeland security forces to control riots, political unrest, and domestic tensions, which, in turn, is fueling the market growth. Furthermore, numerous players are introducing technologically advanced weapons and security solutions, which are integrated with machine learning (ML), cloud, and the Internet of Things (IoT) for identifying threats and taking actions timely. This, in confluence with the extensive research and development (R&D) activities, is anticipated to contribute to the market growth. Looking forward, the market value is projected to reach US$ 503.2 Billion by 2026, expanding at a CAGR of 6.1% during the forecast period (2021-2026).
Market Summary:
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