The production value of security systems services in Sweden has shown a positive growth trend from 2013 to 2023, increasing from 776.7 million Euros to 960.5 million Euros in 2023. The sector experienced notable growth, especially between 2014 and 2016, but faced a downturn in 2018 and 2019. The value rebounded in 2020, with a steady growth trajectory observed in the following years. The year-on-year growth rate for 2023 was 1.8%, and the compound annual growth rate (CAGR) for the last five years stood at 1.51%.
Going forward, the market is projected to continue its upward trend, with the forecasted production value reaching 1,010.0 million Euros by 2027 and 1,030.0 million Euros by 2028. The forecasted 5-year CAGR is 0.99%, with a cumulative growth rate of 5.06% between 2024 and 2028.
Future trends to watch for:
- Advancements in smart security technology and integration with IoT.
- Increased demand for cybersecurity services alongside traditional security systems.
- Potential impact of economic fluctuations and regulatory changes on the industry.
- Shift towards comprehensive security solutions combining physical and digital security.
