Global Physical Security Market (2021-2027) byComponents, Systems, Services, Organization Size, Vertical, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Global Physical Security Market (2021-2027) byComponents, Systems, Services, Organization Size, Vertical, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Introduction

The Global Physical Security Market is estimated to be USD 106 Bn in 2021 and is expected to reach USD 154.67 Bn by 2027, growing at a CAGR of 6%.

Key factors such as rising terror attacks, technological advancements in security systems and solutions, increasing use of IP based cameras for video surveillance, and rising adoption of IoT based security systems using cloud computing platforms are fuelling the growth of the physical security market. Shifting focus from traditional solutions such as badge readers, alarm systems, and door locks to advanced physical security solutions of several organizations and government agencies would support market growth.

The privacy concerns against the installation and interoperability issues related to physical security systems are likely to hamper the market's growth. Integration issues of logical and physical components of security systems pose a challenge for market growth.

Market Dynamics

DriversRising Incidents of Terror AttacksTechnological Advancements and Deployment of Wireless Technology in Security SystemsIncreasing Use of IP-Based Cameras for Video SurveillanceImplementation of Mobile-Based Access ControlAdoption of IoT-Based Security Systems with Cloud Computing PlatformsRestraintsViolation of PrivacyChallengesIntegration of Logical and Physical Components of Security SystemsDevice Vulnerability and Chances of Systems Being HackedNeed for High Bandwidth to Transfer DataNeed for High-Capacity Storage for High-Resolution Images/Videos and RecordingsOpportunitiesAdoption of “As A Service” ModelUse of AI to Boost SurveillanceTrendsThe Introduction of 5G NetworksSegments Covered

By Component, the Services hold the highest market share. Physical security services integrate digital video surveillance with network and IT systems; thus, enhances the existing video surveillance system. This integration enhances safety and reduces loss from thefts.

By Systems, the Video Surveillance System segment holds the highest market share during the forecast period. Technological advancements such as UHD, coupled with the decreasing cost of equipment, have led to increased adoption of video surveillance systems. Also, the rapid development of commercial and institutional infrastructure across several regions has driven the demand for video surveillance.

By Services, System Integration holds the highest market share. Emerging technologies, shifting approach of customers toward security operations, growing demand for cost-effective physical security hardware, stringent regulatory compliance favors the growth of the segment. An increase in the usage of cloud computing solutions in various organizations, increasing automation, and an integrated approach in business processes are projected to drive the system integration segment.

By Organization Size, Large Enterprises hold the highest market share. It is mainly due to the increasing applications of Physical Security for safety purposes. The affordability and high economies of scale of large enterprises leverage them to adopt physical security solutions and services.

By Vertical, the Residential segment holds the highest market share. The growth of this segment is due to the development of smart homes, coupled with the increased use of advanced video surveillance and access control systems. The high number of damages caused to assets and resources during thefts and other attacks is also contributing to the growth of the market.

By Geography, North America is anticipated to lead the market. The major factor attributed to the growth of the market is the high technological advancement resulting in further advancements in Physical Security, the need for safety against terrorist activities, and the requirement to reduce the cost of the security workforce. APAC is likely to hold lucrative growth opportunities during the forecast period due to significant investments by the Government in safe city projects and other smart security solutions.

The Global Physical Security Market is segmented further based on Components, Systems, Services, Organization Size, Vertical, and Geography.Global Physical Security Market, By ComponentIntroductionSystemsServicesGlobal Physical Security Market, By SystemsIntroductionVideo SurveillanceIntrusion DetectionAccess ControlExterior Security SystemsGlobal Physical Security Market, By ServicesIntroductionSystem IntegrationRemote MonitoringOthersGlobal Physical Security Market, By Organization SizeIntroductionLarge EnterprisesSmall and Medium-Sized EnterprisesGlobal Physical Security Market, By VerticalIntroductionTransportationGovernmentBanking & FinanceUtility & EnergyResidentialManufacturing & IndustrialIndustrialRetailCommercialHospitalityOthersGlobal Physical Security Market, By GeographyIntroductionNorth AmericaSouth AmericaEuropeAsia PacificRest of the WorldCompany Profiles

Some of the companies covered in this report are Anixter International Inc., Tyco International PLC., Cisco Systems, Inc., Genetec Inc., ADT Corporation, Honeywell International, Inc., Bosch Security Systems, Inc, Johnson Controls, Schneider Electric, Axis Communications AB, KBR inc, G4S Plc, etc.

IGR Competitive Quadrant

The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

The report offers a comprehensive evaluation of the Global Physical Security Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence’s Proprietary competitive positioning tool.

Report Highlights:A complete analysis of the market including parent industryImportant market dynamics and trendsMarket segmentationHistorical, current, and projected size of the market based on value and volumeMarket shares and strategies of key playersRecommendations to companies for strengthening their foothold in the market