Key Market Indicators
Reykjavik, Iceland – Icelander Security Systems is projected to see its revenue climb to approximately €102 million by 2028, up from nearly €94 million in 2023. This represents an average annual growth rate of 1.1%. Since 2019, the Icelandic security market has expanded at an impressive annual rate of 5.2%. Despite this growth, Iceland ranked 20th in the security systems sector in 2023. It was surpassed by Slovakia, which also recorded revenues close to €94 million. In the broader European context, Spain, Germany, and Sweden occupied the second, third, and fourth positions respectively in the security systems market rankings.
