Physical Security Market Global Trends, Market Share, Industry Size, GrowthGlobal physical security market is predicted to value over USD 270 billion by 2026 end and grow at a CAGR of over 7.5% during the forecast period 2019 to 2026.
Increased initiatives by various governments to safeguard and protect national security, including its citizens, economy and institutions, this has created a need for advanced physical security. Additionally, there has been a number of breaches and physical incidences being reported in leading industries like commercial, transportation, finance& banking. Security plays a vital role in protecting domestic and international threats. Due to the introduction of cameras with Internet Protocol (IP) for surveillance and adoption of security systems based on Internet of Things (IoT) using cloud computing platforms, the physical security market has been booming in recent years. For instance, the advent of automated drones used for the purpose of security patrolling, used IoT-based sensors and cameras so that there is a live data feed to the end user and due to such advancements, the physical security market has experienced a rapid growth and is expected to be consistently growing during the forecast period as well.
Insights on Global Physical Security Market:
Asia Pacific is anticipated to possess the largest market share in the global physical security market due to integration of advanced security devices along with the traditional systems by the governments of countries like India and China. Also, a rapid industrialization and growth in the IT industry will result in driving the market in the positive direction. North America is also expected to gain a significant amount of traction during the forecast period as the access control security system is been implemented by various industries like banking, retail, etc. which will be the driving force for the physical security market worldwide.
Large companies prefer security system integration service as it provides an integrated security solution using a multi-layered security system. The major advantage of using this service is its efficiency due to its optimized technological performance thus deriving maximum value for their investment in technology. Its centralized implementation is a time-saving process which makes the investment more fruitful from the end-user organization’s point of view. It is therefore expected that this service segment will perform well in the market during the forecast period. Video surveillance and access control services are also used widely by not only by bigger organizations but also SME’s. The implementation of biometric entries has been the new norm of security and these factor is helping these segments gain more traction currently and will do the same during the forecast period.
Residential segment is expected to drive the physical security market due to a rise in population which has expanded the construction business at a rapid rate. This population rise has thus resulted in an increase in the demand for security to protect from theft or other attacks. Remote monitoring through CCTV is primarily used in residential areas along with access control services like biometric and RFID entries.
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Physical Security Market Segmentation:
By Service Type
• Security Systems Integration Services
• Video Surveillance Service
• Access Control Service
• Remote Monitoring Service
By System Type
• Fire & Life Safety
• Video Surveillance System
• Physical Identity & Access Management
• Perimeter Intrusion Detection & Prevention
• Physical Security Information Management
• Security Scanning Imaging & Metal Detection
• Physical Access Control System
By Industry Type
• Residential
• Banking & Financial industry
• Transportation
• Telecom and IT industry
• Retail
By Region
• Asia Pacific
• North America
• Europe
• Rest of the World
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Competitive Landscape:
• ADT Inc.
• Bosch Building Technologies
• Cisco Systems
• Honeywell International
• Genetec
• Johnson Controls International plc.
• Secom Co. Ltd.
FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global physical security market by region, by service type, by industry type, by system type
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific and rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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