Consolidation accelerates in European security integration
Newsletter I Security & Safety I November 2026
A new era begins
The European market for security systems integration is entering a new phase of growth. Demand is being driven by the protection of critical infrastructure, stricter regulations and the modernization of installed systems. At the same time, cameras, access control, sensors, alarms and software are becoming increasingly interconnected. This is increasing the importance of technical expertise, scale and long-term customer relationships.
A €4.3 billion market continues to grow
The European security systems integration market is valued at approximately €4.3 billion in 2026. It is expected to grow at a CAGR of 7.1% through 2035. Geopolitical uncertainty, regulation and the protection of critical infrastructure provide a structural foundation for long-term demand.
Integrated technology increases strategic value
The sector is shifting from standalone products towards integrated solutions that combine video analytics, access control, perimeter security, alarms and software. Cloud technology and AI are accelerating this development, including through anomaly detection and automated monitoring. This is also increasing the need for specialist knowledge and investment capacity.
Recurring services strengthen business models
Every new installation expands the base for additional services, such as inspection, maintenance, monitoring and upgrades. These recurring revenues make business models more resilient and customer relationships more durable. For investors, it is precisely this predictability and the potential for cross-selling that are attractive.
A fragmented market creates room for buy-and-build
The European fire safety and security industry comprises thousands of companies, including many local and regional specialists. This fragmentation creates room for platform building, geographic densification and the expansion of technical capabilities. Recent transactions show that both private equity platforms and strategic buyers are actively pursuing these opportunities.
Scale alone is not enough
Stock market valuations underline investor interest in the sector. As of 21 September 2026, median LTM EV/EBITDA multiples stood at 13.2x for Access Solutions, 15.5x for Monitoring & Video Surveillance and 19.8x for Safety & Fire. At the same time, Varna CEO Robin Boheman emphasizes that financial performance is not the only consideration in an acquisition: entrepreneurship, reputation, technical expertise and cultural fit are equally important.
Read the full newsletter for an in-depth market analysis, an overview of European consolidation platforms, recent transactions and valuation developments. It also features an interview with Varna CEO Robin Boheman and several Oaklins case studies, including the sale of Dan Group Alarm Syd to Varna.
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