At 6.1% CAGR, Global Physical Security Market Size Projected to Grow US $137.99 Billion by 2028: Statistics Report by Polaris Market Research

Polaris Market Research

The global physical security market size is expected to reach USD 137.99 billion by 2028 according to a new study by Polaris Market Research. The report Physical Security Market Share, Size, Trends, Industry Analysis Report, By Component (Systems, Services), By Service (System Integration, Remote Monitoring, Others), By Systems, By End-Use, By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Physical security is safeguarding hardware, personnel, software, data, and networks from physical action and circumstances that could lead to critical loss or injury to an enterprise, institution, and agency. Physical security includes safeguarding from flood, fire, burglary, natural disaster, terrorism, and vandalism. While most of these are concealed by insurance, physical security's management of prevention of damage prevents the time, resources, and money off-tracked because of these events. Also, numerous companies are dependent on the Internet of Things (IoT), along with the need for digital and physical security which is expected to open up opportunities in the market. 

Due to the covid-19 pandemic, various prominent manufacturers of physical security systems worldwide have stopped their functions because of disruption in the supply chain of the components. The physical security request will soar during the pandemic for remote monitoring of the covid-19 containment zones for the successful execution of lockdown. The demand for access control security systems and video surveillance is expected to rise amidst lockdown because of a covid-19 pandemic prohibiting invasion, burglary, and unwarranted access in commercial and residential spaces.

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Important Questions Answered By The Market Report:

• What are the market size and prediction of the global physical security market?
• What are the discouraging factors and influence of covid-19?
• What are the key segments to invest in over the forecast period from 2021-2028?
• What is the aggressive strategy for opportunities?
• What are regulatory frameworks and technology trends in the global physical security market?
• What is the market share of the principal vendors in the global physical security market?

Top Manufacturers in the Market

• ADT
• Anixter Inc.
• Axis Communications AB
• Cisco Systems, Inc.
• Dahua Technology Co., Ltd
• G4S Limited
• Genetec Inc.
• Hangzhou Hikvision Digital Technology Co., Ltd
• Johnson Controls
• Honeywell International Inc.
• Kastle Systems International LLC
• Pelco
• Robert Bosch GmbH
• SECOM CO., LTD
• STANLEY CONVERGENT SECURITY SOLUTIONS, INC.
• Dahua Technology Co., Ltd

An additional list of key players can be available on request: https://www.polarismarketresearch.com/industry-analysis/physical-security-market/request-for-customization

The Physical Security Market: Growth Leading Factors

The growth in activities by terrorists and growing crime rates globally have intensified concerns about the wellbeing of people, processes, and assets. The increase in condemnation in several countries has caused damage to multiple lives and serious damage to the framework spotlighting the requirement for physical security solutions. The growing number of terror attacks speedily ensues soaring demand for physical security solutions.

The market growth is accelerated by the concentration of physical security for the organizations recognizing possible threats and increasing usage in several end-use industries like banks, retail, hospitality, and transportation for different security purposes. The growth in advancements such as technological and disposition of wireless technology in security systems and the IP-based cameras for video monitoring further impacts the market. Additionally, using AI to encourage monitoring and acquisition of the "as a service" model to extend commercial occasions to the market players.

Physical Security Market Report Scope : 

Insight by ComponentGlobal Physical Security Market: Key Segmentation

The global physical security markets have been fragmented into systems and services depending on the components. The physical security system is applied to establish and observe the environment and ascertain trespassing. The physical security system entails video surveillance, intrusion detection, and gaining control. The development is predominantly because of the upheaval of video surveillance systems in the housing sector.

• Insight by System

Based on systems, the global physical security market has been divided into video surveillance, intrusion detection, access control, and external systems. The largest market share was grabbed by the video surveillance system. It comprises multiple video cameras on a network that administers the captivated audio or video data to a specific place. The photographed pictures are passed on to a primary location for storage and recording of live supervision. The usage of video surveillance systems applies to crime prevention, traffic management, and processes monitoring.

• Insight by Service

The global physical security market is divided into system integration, remote monitoring services, and others depending on the service. The growing demand for security monitoring commodity because of criminal activities, cost reduction in benefitting several cloud storage solutions, and ultimatums to demand video surveillance as a service in the global physical security market.

• Insight by End-Use

The residential sector is considered the speedily growing region because of the extensive damages generated by assets and resources all over attacks and threats. User experience is enhanced by residential properties together safeguarding holdings for any possible probabilities. The development is attributed to the development of smart homes in connection with improvised usage of physical security like growing video surveillance and entrance control systems.

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Regional Analysis: Physical Security Market

North America gained the largest market share in the global physical security market. However, in North America, the United States comes to light as the leading market owing to the increasing usage of advanced technology and systems for better safety in business and public spaces. In addition, the significant increase in security breaches, fraud, and data identity thefts in the United States are some of the additional factors responsible for the growth of the region.

Global physical security market report is segmented based on components, system, service, end-use, and region.

Physical Security Market: By Component Outlook

• Systems
• Services

Physical Security Market: By System Outlook

• Video Surveillance
• Intrusion Detection
• Access Control
• Exterior Systems

Physical Security Market: By Service Outlook

• System Integration
• Remote Monitoring
• Others

Physical Security Market: By End-Use Outlook

• Transportation
• Government
• Banking & Finance
• Utility & Energy
• Residential
• Industrial
• Retail
• Commercial
• Hospitality
• Others

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers

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