According to Barnes, video surveillance leads this charge with 16%-plus growth that continues accelerating. Current market structure shows national-scope companies controlling approximately 48% market share when measured by recurring monthly revenue (RMR), with regional players holding 12% and local companies maintaining 23% of the market. That said, over the past decade, smaller companies’ market share has declined from roughly 50% to 35%, representing a fundamental shift rather than cyclical acquisition activity. The total number of security companies appears to be declining as smaller players exit the industry, citing increased complexity and difficulty maintaining competitiveness; however, data indicate market share stabilization around 25% for smaller players rather than continued decline to single digits. Even with the decline in market share, the smaller companies that remain often maintain significant competitive advantages.