Key Market Indicators
RIGA—The Latvian security systems market is poised for steady growth, with revenue projected to climb to approximately €127 million by 2028, up from €118 million in 2023. This marks an average annual growth rate of 1.1%. Since 2013, the sector has seen an average yearly increase of 2.3%, reflecting consistent expansion in the Latvian market. In 2023, Latvia ranked 18th in Europe for security systems revenue, with Romania narrowly ahead, also posting €118 million. Leading the European rankings were Spain, Germany, and Sweden, occupying the second, third, and fourth positions respectively.
