Market Research Future published a research report on “Global Physical Security Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
— Market Overview:
Physical security refers to various security measures undertaken and designed to protect a property from any potential attacks and to prevent any unauthorized access. It is a broad concept that includes protective barriers, locks, CCTV surveillance, metal detection, security guards, access control protocols, security scanning, and other techniques.
The global Physical Security Market was analyzed by Market Research Future (MRFR) and it was projected that a noteworthy CAGR of 10% will be attained by the market over the forecast period of 2016 to 2022. The valuation of the physical security market was further stated to surpass its previous valuation to reach a projected figure of USD 120 Billion by the end of the forecast period.
The global physical security market is on a constant rise and is expected to remain the same in the coming years as per MRFR. The global market is driven by the rising demand for security measures and techniques against prevalent terrorist attacks and for controlling the assets of business. The study of the market reveals that the increasing adoption of IoT and the development of various smart transportation systems for tracking down the location of automobiles is also pushing the global market towards a positive direction. Additionally, technologically advancements are also majorly contributing to the overall development of cost-effective security systems. On the flip side, it was reported that the combination of physical and logical components of security can pose to be a major challenge for the global physical security market.
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The prominent players in the physical security market are – Cisco Systems, Inc. (U.S.), Anixter International Inc. (U.S.), Tyco International Plc (Ireland), Bosch Security Systems, Inc. (Germany), ADT Corporation (U.S.), Genetec Inc. (Canada), Honeywell International, Inc. (U.S.), Pelco (U.S.), Stanley Security (U.S.), Senstar Corporation (Canada), among others
The global physical security market has been segmented in terms of type and industry.
• By type, the market divides into systems and services. The systems segment is broken down into locks, access control protocols, video surveillance, biometrics systems, metal detection, metal detection, fire & life safety, security scanning, and others. The services segment is narrowed down into Designing & Consulting, Maintenance & Support, and System integration.
• By Industry, the market includes government, IT & telecom, defense & public sector, retail, transportation & logistics, oil, gas & energy, hospitality, education, BFSI, and others.
The global physical security market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The North American region led the global physical security market back in 2018. The region is projected to maintain its stay at the top over the forecast period as well. This is because MSPs are allowing companies to outsource their security services, thereby enabling companies to reduce their operation costs spent in security measures. Additoonally, the presence of a vast pool of companies in North America is also pushing the growth of the market in this region. Also, needless to mention that the increasing efforts from the government herein to curb down and prevent terrorist attacks and illegal immigration is also accelerating the overall growth of the regional market.
Elsewhere, Asia Pacific is expected to grow at a decent pace to be one of the key regions in the global physical security market. The growth of the regional market is due to the rising investments in security solutions and services by SMEs and large enterprises, regulatory reforms, and surging economic growth. Herein, countries like China and India are majorly contributing to the welfare of the Asia Pacific physical security market.
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• Software investors
• Security solution vendors
• Physical Security service providers
• Value-added Resellers
• Investors and Venture Capitalist
• Security Management Service Provider
• Security Equipment Providers
• Security Agencies
• System Integrators
• Research/Consultancy firms
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Source URL: https://marketersmedia.com/physical-security-market-2019-global-industry-size-trends-sales-revenue-competitive-landscape-business-growth-opportunity-assessment-and-regional-forecast-2022/88908551
Release ID: 88908551