Global Physical Security Market: mainly propelled by rising expenditure on security of major organization

SAN FRANCISCO, Apr. 30, 2018 According to the latest report published by Variant Market Research, the global physical security market size is projected to reach $148 billion by 2024 from $69.4 billion in 2016. In this report, global physical security market forecast says that the global market is growing at 9.9% CAGR from 2016 to 2024. On the basis of geography, Asia-Pacific is expected to grow at a CAGR of 12.1% and North America at 10.1%, throughout the forecast period.
Physical Security Market (By Type: Systems and Services; By industry vertical: Government, Defense & Public Sector, BFSI, Education, Retail, Telecom & IT, Oil, Gas & Energy, Transportation & Logistics, Hospitality & Residential, and Others; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024

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Rising terror attacks fuels, the global physical security market

Better utilization of internet of Things (IoT), rising expenses on security of important organization such as airports, trade centers, government headquarters, banks, data centers, & enterprise facilities, and physical security new technology along with price effective security systems are the global physical security market trends. Though, lack of synergy between security solutions, and restricted use of advanced technologies are the restraints of the global physical security market growth. Moreover, technological advancements in video surveillance, and current development of smart cities, and physical security in information security would generate profitable opportunities for the global packaging robots market.

Market Segmentation

Type, industry vertical and geography are the segmentation of global physical security market. Type segment comprises systems and services. The system segment is further sub segmented into video surveillance, access control, physical security information management, security scanning, perimeter intrusion detection and prevention, imaging & metal detection, and fire & life safety. Services are further bifurcated into system integration, designing & consulting, and maintenance & support. Industry vertical comprises government, defense & public sector, gas & energy, BFSI, education, transportation & logistics, retail, telecom & IT, oil, hospitality & residential, and others.

On the basis of geography, global physical security market is categorized into North America, Europe, Asia- Pacific, and Rest of the World (RoW). North America is further segmented into U.S., Canada, and Mexico whereas Europe segment includes of UK, Germany, France, Italy, and others. Asia-Pacific is bifurcated into India, China, Japan, South Korea, and others while Rest of World segment consist South America, Middle East, and Africa.

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System, by type occupied the maximum global physical security market share in the year 2016

In the year 2016, system segment dominated the type segment with largest market share during the forecast period and is anticipated to continue its dominance throughout the forecast period 2017 – 2025 owing to the rapidly growing deployment of security strategies in organizations of all sizes in regions worldwide. And services segment is anticipated to grow at the fastest CAGR throughout the forecast period 2016 – 2024

Government, defense & public sector, by industry vertical projected to held around 25% market share throughout the forecast period.

In the industry vertical segment, government, defense & public sector will attain largest global physical security market share throughout the forecast period 2016 – 2024 due to rising demand to improve security measures to protect the assets of organizations.

North America and Europe dominated the leading share in the global physical security market

In the year 2016, North America and Europe generated the highest market share with about 37.4% and 26.3%, respectively. Moreover, in terms of growth, Asia-Pacific is anticipated to grow with quickest CAGR of 12.1% throughout the forecast period 2016 to 2024, owing to improved consumption of internet of Things (IoT), and high rate of terror attacks. Moreover, countries like Ghana, Uganda, Nepal, Singapore, are witnessing a high demand in the global physical security market.

Competitive Landscape

Key players profiled in the report include Honeywell International, Inc., Cisco Systems, Bosch Security Systems, Inc., ADT Corporation, Tyco International Plc., Pelco, Genetec Inc., Stanley Security Solutions Limited, Anixter International Inc., Senstar Corporation, among others.

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Scope of the Global Physical Security Market

Type Segments

• Systems
o Access Control
 Biometrics
 Face Recognition
 Fingerprint Recognition
 Other Biometric
 Locks
 Electronic Locks
 Mechanical Locks
 Smart Card and Readers
 ACaaS
o Video surveillance
 CCTV
 VSaaS
 Video Analytics
 IP Video Surveillance
o Physical Security Information Management
o Perimeter Intrusion Detection & Prevention
o Security Scanning, Imaging & Metal Detection
 Metal Detectors
 X-ray Screening
 Electronic Inspection Tools
o Fire & life Safety
• Services
o System Integration
o Maintenance & Support
o Designing & Consulting

Industry Vertical Segments

• Government, Defense & Public Sector
• BFSI
• Education
• Retail
• Telecom & IT
• Oil, Gas & Energy
• Transportation & Logistics
• Hospitality & Residential
• Other Industry Verticals

Geography Segments

• North America
o U.S.
o Canada
o Mexico

• Europe
o UK
o Germany
o France
o Italy
o Others

• Asia-Pacific
o China
o Japan
o India
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.

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