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Global Physical Security Market – Industry Trends and Forecast to 2029

  • ICT
  • Upcoming Report
  • Aug 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Physical Security Market, By Component (Systems, Services), Systems Type (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), Service Type (Access Control as a Service (ACaaS), Video Surveillance as a Service (VSaaS), Remote Monitoring Services, Security Systems Integration Services), organization size (SMEs, Large Enterprises), Vertical (Banking, Financial Services and Insurance (BFSI), Government, Retail, Transportation, Residential, Telecom and Information Technology (I.T.), Others) – Industry Trends and Forecast to 2029.

Physical Security Market

Physical Security Market Analysis and Size

Physical security methods are used to protect equipment and structures. To keep technology and data secure, physical security breaches and dangers must also be avoided in addition to network and cyber security. The workers and professors who have access to the building likewise hold this to be true.

Global physical security market was valued at USD 112.20 billion in 2021 and is expected to reach USD 202.05 billion by 2029, registering a CAGR of 7.63% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Physical Security Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Component (Systems, Services), Systems Type (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), Service Type (Access Control as a Service (ACaaS), Video Surveillance as a Service (VSaaS), Remote Monitoring Services, Security Systems Integration Services), organization size (SMEs, Large Enterprises), Vertical (Banking, Financial Services and Insurance (BFSI), Government, Retail, Transportation, Residential, Telecom and Information Technology (I.T.), Others)

Countries Covered

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

Market Players Covered

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), HID Global (U.S.), Pelco, Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Arthur J. Gallagher & Co. (New Zealand), SECOM CO., LTD. (Japan), Allied Universal  (U.S.), Dahua Technology USA Inc. (U.S.), STANLEY CONVERGENT SECURITY SOLUTIONS, INC. (U.S.), Axis Communications AB. (Sweden), Hanwha Techwin America. (U.S.), Teledyne FLIR LLC (U.K.), Hexagon AB (Sweden)

Market Opportunities

  • Growing number of end user industries
  • Rising number of small and medium scale enterprises
  • Increasing awareness about physical security solutions

Market Definition

Physical security refers to the kind of security service that helps safeguard information, hardware, software, people, and networks from physical attacks and other incidents that could seriously hurt any business or government organization. The structure is guarded against terrorism, fire, robbery, natural calamities, and vandalism. The system comprises several interconnected layers including CCTV cameras, security guards, locks, access control protocols, barriers, and other similar tools.  

Physical Security Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Violation of privacy

Any surveillance systems are frequently considered an invasion of privacy and are opposed by various civil liberties groups and activists at locations such as roads, parking lots, parks, transportation modes, retail establishments, financial institutions, and offices. Since consumers expect their personal information to be used exclusively for legal and defined purposes, there have been concerns about who views the video and how it might be used or exploited.

  • Increased demand for effective security solutions

The number of data breaches are increasing rapidly all across organizations. Large scale organizations are heavily investing in centralized data safety and security solutions. This has widened the scope of growth for the market. Growing shift towards cloud-based data platforms to manage and mitigate data theft and cyber security issues is bolstering the growth rate of the market in a sharp upward direction.

Furthermore, the factors such as rising urbanization, industrialization and mounting need to extract in-depth insights from growing volumes of data and achieve benchmarking during the forecast period are some other important market drivers. Additionally, rising investment by the enterprises for data storage centers and rising demand for simplified access to organizational data from departmental silos are anticipated to drive the market's growth rate.

Opportunities

  • Rising adoption of advanced technologies

Internet of things or connected devices technology will truly benefit the market in the long run. Internet of things technology allows the data collection through more ways and improves the operational efficiency with respect to cost and the data analytics. IOT even offers greater degree of ease in running analytics.

  • Increasing trend of digitalization

Additionally, the increasing trend of digitalization further offers numerous growth opportunities within the market. Rising number of data processing activities and complete digitization of operations will also work in favor of the market.

Restraints/Challenges

  • Budgetary concerns and issues

The deployment of data storage solutions and systems is quite costly. Budgetary restraints in small scale organizations can hamper the growth rate of the market. Also, slow onboarding process, high data upkeep costs and complexities of legacy data will also impede the market growth rate. Lack of data privacy, transparency and no real-time visibility into vulnerabilities will further worsen the situation.

  • Integration and installation challenges

Integrating security systems has many advantages, but it is a difficult procedure. One difficulty is having to purchase everything from the same source in order to integrate security systems. Customers may be forced to use a system that is inadequate if the vendor offers only limited support or decides to close shop. This obstacle might be addressed in the future, though, as more physical security providers enter the market.

  • Lack of technical expertise

Dearth of expert knowledge and technical expertise and lack of awareness especially in the underdeveloped economies will create hurdles for the market in regards to the smooth growth in the market value. Further, lack of skilled professionals in data science in combination with slow adoption rate in the developing economies will yet again hamper the market growth rate.

This physical security market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the physical security market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Physical Security Market

There was a considerable demand for contact-based biometric and access control systems following the COVID-19 epidemic. However, because of the COVID-19 problem, contactless access control and biometric technologies have gained significant popularity since more people are aware of the need to avoid physical touch in public spaces. The primary drivers of the market growth are the rapid acceptance of contactless biometric systems in the pandemic and the growing demand for video surveillance solutions, particularly for remote monitoring activities.

Recent Developments

  • With the purchase of SunPro Solar in November 2021, ADT entered the rooftop solar industry. ADT will rebrand SunPro solar as "ADT Solar" and provide safe and linked solar energy to ADT customers.
  • In April 2021, Honeywell entered into a partnership with the Florida-based Jacksonville Jaguars, a professional football team. In accordance with the agreement, Honeywell will offer the stadium air quality monitoring services as well as PPE kits for the Jaguars players and crew.

Physical Security Market Scope

The physical security market is segmented on the basis of component, systems type, service type, organization size and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

  • Systems
  • Services

System Type

  • 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

Service Type

  • Access Control as a Service (ACaaS)
  • Video Surveillance as a Service (VSaaS)
  • Remote Monitoring Services
  • Security Systems Integration Services

Organization Size

  • SMEs
  • Large Enterprises

Vertical

  • Banking, Financial Services and Insurance (BFSI)
  • Government
  • Retail
  • Transportation
  • Residential
  • Telecom and Information Technology (I.T.)
  • Others

Physical Security Market Regional Analysis/Insights

The physical security market is analyzed and market size insights and trends are provided by country, component, systems type, service type, organization size and vertical as referenced above.

The countries covered in the 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.

North America dominates the physical security market due to the presence of established economies such as U.S. and Canada and strong economic growth, regulatory reforms, and rising investments by SMEs within the region. Prevalence of advanced I.T. infrastructure is another important factor determining the dominance of this region.

Asia-Pacific region is showing a promising potential and therefore, is set to grow with the highest growth rate during the forecast period. This is because of the increasing demand for smart security solutions across India and China and growing number of small and medium scale enterprises.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Physical Security Market Share Analysis

The physical security market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to physical security market.

Some of the major players operating in the 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)
  • HID Global (U.S.)
  • Pelco, Inc. (U.S.)
  • Hangzhou Hikvision Digital Technology Co., Ltd. (China)
  • Arthur J. Gallagher & Co. (New Zealand)
  • SECOM CO., LTD. (Japan)
  • Allied Universal  (U.S.)
  • Dahua Technology USA Inc. (U.S.)
  • STANLEY CONVERGENT SECURITY SOLUTIONS, INC. (U.S.)
  • Axis Communications AB. (Sweden)
  • Hanwha Techwin America. (U.S.)
  • Teledyne FLIR LLC (U.K.)
  • Hexagon AB (Sweden)

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 estimated 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 an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The global physical security market is expected to show a value of USD 202.05 billion by 2029.
The physical security market is estimated to register a CAGR of 7.63% within the forecast period.
The major players operating in the 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), HID Global (U.S.), Pelco, Inc. (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Arthur J. Gallagher & Co. (New Zealand), SECOM CO., LTD. (Japan), Allied Universal (U.S.), Dahua Technology USA Inc. (U.S.), STANLEY CONVERGENT SECURITY SOLUTIONS, INC. (U.S.), Axis Communications AB. (Sweden), Hanwha Techwin America. (U.S.), Teledyne FLIR LLC (U.K.), Hexagon AB (Sweden).
The major countries covered in the Physical Security Market 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.