North America Physical Security Market – Industry Trends and Forecast to 2030

North America 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 (IT), Others) – Industry Trends and Forecast to 2030.

North America Physical Security Market Analysis and Size

The need to secure physical environment from activities, such as potential burglaries, theft, crime, vandalism and fire incidences, is an important factor expected to enhance market growth during the forecast period. Furthermore, technological advancements and innovations in integrated video, sensors and access systems for IoT-enabled devices are expected to spur market growth. For instance, Intel Corp. used a software-based internet of things platform to manage its physical security device access in September 2021.

Data Bridge Market Research analyses that the 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. 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.

North America Physical Security Market Scope and Segmentation

Market Definition

Physical security is the protection of hardware, software, networks, personnel and data from physical events and actions that could cause serious damage or loss to an agency, enterprise or institution. This comprises protection from natural disasters, fire, flood, burglary, theft, terrorism and vandalism. The physical security framework is mainly made up of three components such as surveillance, access control and testing.

North America Physical Security Market

Drivers

• Increasing Incidence of Crime and Terrorism

With the increase in terrorist and crime activity, people, processes and assets have become more concerned regarding safety and security. As a result of these growing attacks, many infrastructures have been damaged severely and numerous lives have been lost, highlighting the need for physical security solutions. Terrorist activities are on the rise globally, as per the US Department of State. Even though the number of attacks in the United States reduced after 9/11, they have augmented considerably since 2012.

• Growing governments spending on physical security

Governments have augmented spending on physical security in this region owing to a surge in terrorism and security concerns. Most government institutions, including parliaments, embassies, courts and government offices, have installed advanced access control and video surveillance systems. Modern technologies, such as smart fence drones, sensors and mass notification systems (MNS), are used to monitor public assemblies and major events and in tier I and II cities. Thus, the growing governments spending on physical security is expected to drive the market growth rate during the forecast period.

Opportunities

• Shifting focus toward advanced logical security

The shifting focus from legacy solutions, such as alarm systems, badge readers, and door locks to the advanced logical security, which includes threat management, breach detection and intrusion prevention among others, has aided government and organizational agencies to deter crime incidences at a higher success rate. For instance, Honeywell International Inc., a control system and automation company, acquired U.S. Digital, an engineering firm in December 2021, to develop and design dispatches communication and alerting stations solution providers. This acquisition will be incorporated into Honeywell International Inc.’s fire division and life safety systems for giving first responders increased awareness regarding improved life safety. This will also aid securely communicate accurate information regarding the emergency, such as the kind of severity, danger and position within the affected building. Governments are taking up smart city initiatives to increase their infrastructure and deploying improved security systems across different countries and regions.

Restraint

• Challenges associated with Integration and installation

 Integrating security systems has numerous benefits, but it is a difficult process. One difficulty is having to buying everything from the same source to integrate with security systems. Customers may be forced to use an insufficient system if the vendor provides only limited support or decides to close shop. This problem might be addressed in the upcoming years, because more physical security providers will enter in the market.

• Lack of technical expertise

Lack of technical expertise, expert knowledge, and awareness regarding physical security particularly in underdeveloped countries will create obstacles for the market. Furthermore, lack of skilled data science professionals and a slow adoption rate for physical security in developing countries will again hamper the market's 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 North America Physical Security Market

There was a significant demand for the access control systems and contact-based biometric following COVID-19 epidemic. However, due to the COVID-19 problem, biometric and contactless access control technologies have gained substantial popularity since many people are aware of the importance of avoiding physical touch in public places. The major drivers for the market growth are the quick acceptance of contactless biometric systems during pandemic period and the increasing demand for the video surveillance solutions, mainly for remote monitoring activities.

Recent Development

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

North America physical security Market Scope

The physical security market is segmented on the 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 (IT)
• 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.

U.S. is projected to dominate the market during the forecast period of 2023 to 2030 due to the strong presence of several vendors that offer physical security services and systems and early adoption of physical security solutions in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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)