Physical Security Market Size, Share, Industry Growth Report, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Physical Security Market


The global Physical Security market size is projected to reach US$ 322.63 billion by 2026, from US$ 188.19 billion in 2020, at a CAGR of 9.4% during 2021-2026. Rising need for physical security is one of the crucial factors expected to drive the market. Factors, such as increased spending on security to protect critical assets of organizations and rapid adoption of cloud-based data storages and advanced analytics, and technological developments in access control and video surveillance, are also projected to boost the market growth.

In addition, shifting focus from traditional, such as badge readers, alarm systems, and door locks, to advanced logical security solutions, which include breach detection, threat management, and intrusion prevention, of different organizations and government agencies will support the growth. Physical security environment continues to evolve globally, making it prone to cyber crime. Over the past few years, different industries and sectors, such as BFSI, residential, government, and transportation, have witnessed several cases of security breaches. These factors are expetced tp drive the demand further.

Governments across major regions are continuously working toward strengthening their physical security infrastructure to curb threats. For instance, in October 2017, undercover federal auditors from the U.S. Government Accountability Office (GAO) gained unauthorized access to secured areas in the Colorado and Maryland campuses of the National Institute of Standards and Technology (NIST). Such incidents have triggered the need to take improved measures to secure NISTs buildings or other federal buildings. Additionally, the institute has also created a security advisory board that shall create awareness regarding the importance of security amongst NIST employees.
While technologies, such as Internet-of-Things (IoT), play a key role, they have also created vulnerabilities that could be potentially exploited. Moroever, entry points into the data systems of an IoT-connected ecosystem have widened the scope of cyberattacks. However, IoT security has also widened the scope of opportunities for consumers by enabling data protection through advanced connected networks of the physical security system. Furthermore, innovations and technology advancements in integrated sensors, videos, and access systems for IoT-enabled devices are anticipated to boost market growth.

Market Segmentation, Outlook & Viewpoint: Global Physical Security Market

Component Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Hardware
  
Software
  
Services

Hardware Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Video Surveillance
  
Intrusion Detection
  
Access Control
  
Others

Services Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
System Integration
  
Remote Monitoring
  
Others

End User Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

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

Key Players, Recent Developments & Regional Insights: Global Physical Security Market

Residential is projected to be the fastest-growing segment at a CAGR of 10.3% from 2019 to 2025 due to the high number of damages caused to assets and resources during thefts and other attacks. Advancements in security technology, such as IoT, coupled with the growing awareness about cyber-attacks among consumers will also boost the segment growth.

Moreover, remote monitoring through cloud-based services has made it easier to supervise and control the physical environment. Application in residential properties has enhanced user experience along with the necessary safety of assets from any potential risks. Safety is managed by the integration of comprehensive video surveillance system, smart access control, and rapid intrusion detection system.

Transportation is projected to be the second fastest-growing application segment over the forecast period. There is a high demand for equipment used in surveillance, overseeing traffic congestions, and monitoring crowds. Rising number of incidents, such as accidents and terror attacks, across the globe has led to an increased spending on safety and security.

In an attempt to address such issues, U.S. and several emerging countries in Asia Pacific have been engaged in deploying security solutions to monitor traffic as well as crowds. Many public facilities and transportation system, such as airports, seaports, railways, and bus stations, are focusing on safeguarding the infrastructure through security layers. This is estimated to drive the transportation segment over the forecast period.

Regional Insights

North America was the largest regional market in 2018. It is expected to maintain the dominance throughout the estimate period as managed security services are enabling organizations to outsource security services, allowing them to reduce operational costs associated with maintaining in-house security measures. Moreover, presence of prominent companies in North America is contributing to its high share in the market. Asia Pacific will witness the maximum CAGR of 11.6% from 2019 to 2025. The region offers potential growth opportunities for the market due to the factors, such as rapid economic growth, regulatory reforms, and rising investments by SMEs and large enterprises in security solutions.

Physical Security Market Share Insights

Some of the key companies in this market include Hangzhou Hikvision Digital Technology Co., Ltd.; Honeywell International, Inc.; Johnson Control International Plc; Robert Bosch GmbH; and ADT LLC. In October 2017, Hangzhou Hikvision Digital Technology Co. launched a new range of fixed and portable Under-Vehicle Surveillance Systems (UVSS). This helps end users in establishing a high level of safety at airports, hotels, etc.
In November 2017, Honeywell International Inc. introduced Smart Home Security System, a self-installed, all-in-one security solution. It also features Alexa, an Artificial Intelligence (AI) personal assistance developed by Amazon Inc. Thus, new product development has emerged as a key strategy for companies to strengthen their position in the global market.

Key Insights Covered: Global Physical Security Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Physical Security industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Physical Security industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Physical Security industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Physical Security industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Physical Security industry.

Research Methodology: Global Physical Security Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other