Forecast: Production in Security Systems Service Activities Sector in Portugal

The Security Systems Service Activities sector in Portugal has shown a robust growth trajectory, increasing from €82.7 million in 2013 to €178.0 million in 2023. The most notable increases were observed between 2017 and 2019, with year-on-year growth rates of 11.76% and 11.25%, respectively. The sector continued its upward momentum through 2023, albeit at a slowing pace, with an annual growth rate of 6.02%. Over the last five years leading up to 2023, the sector's compound annual growth rate (CAGR) stood at 7.88%.

Looking forward, the forecast from 2024 to 2028 suggests a more moderate growth trajectory, with a forecasted 5-year CAGR of 3.52%, amounting to an 18.86% growth over this period.

Future trends to watch for in the sector include:

• Increased integration of advanced technologies such as artificial intelligence and machine learning.
• Growing importance of cybersecurity services.
• Potential regulatory changes impacting service protocols and compliance requirements.
• Expanding market demand driven by rising security concerns across both residential and commercial segments.