Forecast: Turnover in Security Systems Service Activities Sector in Portugal

The Security Systems Service Activities sector in Portugal has shown steady growth from 2013 to 2023, where it reached a turnover of 214.4 million Euros. The sector saw mild fluctuations in the early years but exhibited strong growth from 2017 onwards, particularly from 2018 to 2023, with the highest growth observed in 2017 (12.26%). The Compound Annual Growth Rate (CAGR) over the last five years stands at 9.12%, reflecting consistent upward trends post-2017.

For the forthcoming period from 2024 to 2028, the projected CAGR is 4.83%, with an overall growth rate of 26.59%. This indicates continued expansion but at a moderate pace compared to the recent past.

Future trends to watch for:

• Increased adoption of advanced security technologies such as AI and IoT.
• Rising demand for integrated security systems in both residential and business sectors.
• Potential market consolidation as bigger players may acquire smaller firms to expand their market share.
• Potential impacts of regulatory changes and cybersecurity concerns on market dynamics.