Increasing Hospital Visits for Wound Treatments in North America Physical Security Market

The rising number of hospital visits for wound treatments in North America has significant implications for the physical security market. As healthcare facilities see an influx of patients seeking wound care, ensuring the safety and security of patients, staff, and sensitive medical information becomes paramount. The demand for robust physical security solutions, including access control, video surveillance, and visitor management systems, is expected to grow. Healthcare providers will prioritize investments in physical security to create secure environments and protect patient privacy, driving market growth in the region.

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Data Bridge Market Research analyses that the North America Physical Security Market is expected to reach USD 544.19 million by 2030, which is USD 212.09 million in 2022, at a CAGR of 12.50% during the forecast period of 2023 to 2030. The increasing investments in infrastructure, including commercial buildings, transportation infrastructure, and smart city initiatives, drive the demand for physical security solutions. As new infrastructure projects emerge, the need for robust security measures presents opportunities for the North America Physical Security Market to expand and provide comprehensive security solutions.

Key Findings of the Study

Increasing the increasing cybersecurity concerns in the convergence of physical and digital security is expected to drive the market's growth rate

The increasing cybersecurity concerns in the convergence of physical and digital security play a significant role as a driver in the North America physical security market. The need to protect physical security systems from cyber threats has become crucial. This drives the adoption of integrated cybersecurity measures in the physical security infrastructure. Organizations and institutions prioritize the implementation of robust cybersecurity protocols to ensure the integrity and resilience of their physical security systems, leading to market growth.

Report Scope and Market Segmentation

Segment Analysis:

The physical security market is segmented on the component, systems type, service type, organization size, and vertical.

• On the basis of component, the physical security market is segmented into systems, services.

Services segment is dominating in the component segment with the CAGR of 11.3 % due to the increasing demand for professional installation, maintenance, and support services. As organizations prioritize robust security measures, they seek expert assistance for the implementation and management of physical security solutions during the forecast period of 2023-2030.

In 2023, the services segment is dominating the component segment in component segment the physical security market

In 2023, the services segment is dominating the component segment with a CAGR of 11.3 % due to the increasing demand for professional installation, maintenance, and support services. As organizations prioritize robust security measures, they seek expert assistance for the implementation and management of physical security solutions during the forecast period of 2023-2030.

• On the basis of systems type, the physical security market is segmented into physical access control system (PACS), video surveillance system, perimeter intrusion detection and prevention, physical security information management (PSIM), physical identity and access management (PIAM), security scanning, imaging, and metal detection, fire, and life safety. The dominating segment in the system type category is the video surveillance system segment because video surveillance systems play a critical role in monitoring and recording activities, providing real-time situational awareness, and deterring potential threats, during the forecast period of 2023-2030.
• On the basis of service type, the physical security market is segmented into access control as a service (ACAAS), video surveillance as a service (VSAAS), remote monitoring services, and security systems integration services. The dominating segment in the service type category is access control as a service (ACAAS), owing to ACAAS offers the convenience of cloud-based access control solutions, providing scalability, flexibility, and cost-effectiveness, during the forecast period of 2023-2030.
• On the basis of organization size, the physical security market is segmented into SMES, large enterprises. The large Organization segment is dominating the organization size segment with the CAGR of 11.1% due to larger organizations having larger physical footprints, more assets to protect, and higher security budgets, leading to a greater demand for comprehensive physical security solutions, during the forecast period of 2023-2030.

In 2023, the large organization segment is dominating the organization size segment in the physical security market

In 2023, the large organization segment is dominating the organization size segment in the physical security market with a CAGR of 11.1% owing to physical security systems form the backbone of the overall security infrastructure. These systems include access control systems, video surveillance systems, intruder detection systems, perimeter security systems, and alarm systems, during the forecast period of 2023-2030.

• On the basis of vertical, the physical security market is segmented into banking, financial services and insurance (BFSI), government, retail, transportation, residential, telecom and information technology (IT), others. Government Segment is dominating the vertical category with the CAGR of 39.4% due to the significant investments made by government entities in securing critical infrastructure, public facilities, and sensitive data. Government organizations prioritize the implementation of comprehensive physical security solutions to protect assets and ensure public safety, during the forecast period of 2023-2030.

Major Players

Data Bridge Market Research recognizes the following companies as the major North America physical security market players in North America physical security market are ADT (U.S.), Cisco Systems Inc. (U.S.), Honeywell International Inc. (U.S.), Johnson Controls (Ireland), TELUS (Canada), Anixter Inc. (U.S.), Genetec Inc. (Canada), Bosch Sicherheitssysteme GmbH (Germany).

Market Development

• In 2021, ADT acquired SunPro Solar and ventured into the rooftop solar industry. Following the acquisition, SunPro Solar will be rebranded as "ADT Solar." ADT aims to offer secure and interconnected solar energy solutions to its customers.
• In 2021, Honeywell established a partnership with the Jacksonville Jaguars, a professional football team based in Florida. As part of this agreement, Honeywell will provide air quality monitoring services for the stadium. Additionally, Honeywell will supply personal protective equipment (PPE) kits to ensure the safety of the Jaguars players.
• In March 2022, Ouster Inc., a company specializing in LIDAR technology, collaborated with Hexagon AB, a leading producer and manufacturer of security systems, to introduce a joint security solution called Ouster×Accur8vision. This solution aims to enhance the protection and monitoring of critical infrastructures using advanced video surveillance software.

Regional Analysis

Geographically, the countries covered in the North America Physical Security Market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America..

As per Data Bridge Market Research analysis:

United State is the dominant country in North America physical security market during the forecast period 2023 - 2030

During the forecast period of 2023 to 2030, the United States is expected to continue dominating the market. This is primarily due to the presence of numerous vendors that provide comprehensive physical security services and systems in the region. The early adoption of physical security solutions by businesses and organizations within the country also contributes to its strong market position. As a result, the United States is projected to maintain its significant role in the market throughout the forecast period.

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