The latest research study “Physical Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global physical security market size reached US$ 108.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 160.76 Billion by 2027, exhibiting a growth rate (CAGR) of 6.60% during 2022-2027.
Physical security protects physical assets, personnel, software, hardware, networks, and property from physical actions and events that could cause profound loss or damage. Some of these instances comprise natural disasters, burglary, fire, floods, robbery, vandalism, terrorism, theft, etc. Physical security involves the use of numerous layers of interdependent systems, including perimeter intrusion detection, access control, security systems, locks, deterrent systems, fire protection, CCTV surveillance, security guards, etc. It aids in tracking security breaches, preventing unauthorized access to facilities, maintaining trust and confidence, etc. As a result, physical security finds extensive applications across the transportation, information technology (IT), telecommunications, and banking, financial services, and insurance (BFSI) sectors.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Physical Security Market Trends and Drivers:
The rising consumer security concerns and the growing prevalence of terror attacks across countries are among the key factors stimulating the physical security market. Apart from this, government bodies are focusing on installing advanced video surveillance and access control systems to prevent crime incidents and severe damage to infrastructures and individuals, which is acting as another significant growth-inducing factor. Furthermore, the widespread adoption of drones, smart fence sensors, and mass notification systems (MNS) for surveillance at major events or assemblies is positively influencing the global market. Besides this, the increasing integration of artificial intelligence (AI) to identify potential areas of compromise while analyzing images, videos, and other data to differentiate threats from standard activities is also propelling the market growth. Moreover, the introduction of video surveillance solutions for efficient monitoring of large areas and the inflating popularity of cloud-based data storage are expected to fuel the physical security market over the forecasted period.
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Physical Security Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ADT LLC, Assa Abloy AB, Axis Communications AB (Canon Inc.), Cisco Systems Inc., Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd. (China Electronics Technology Group Corporation), Honeywell International Inc., Johnson Controls International, Pelco Incorporated (Motorola Solutions Inc.), Robert Bosch GmbH (Robert Bosch Stiftung GmbH), Senstar Corporation, Siemens AG and STANLEY Convergent Security Solutions Inc. (Stanley Black & Decker Inc.).
The report has segmented the market on the basis of component, enterprise size and industry vertical.
Breakup by Component:
- System
- Services
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- Retail
- Transportation
- Residential
- IT and Telecom
- BFSI
- Government
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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