Global Physical Security Market Forecast Key Players By 2024: EMC Corporation, McAfee, Genetec, NICE, Cisco Systems, Honeywell Security Group, Morpho S.A., Pelco, Axis Communications, Bosch Security Systems, IBM Corporation
The physical security market is expected to witness technological innovations such as the transition from analog to built-in IP network system. Such technological advancements comprise ubiquitous sensors, video analytics & displays, power access systems, and smart devices with built-in distributed public-address environment. Increasing safety issues of personal network and hardware infrastructure will further have a positive impact on the physical security market demand.
Physical Security Market is set to witness a high growth over the forecast timeline owing to the growing security concerns and rising terror activities across the globe. Technological advancements, such as the adoption of access control systems along with the availability of cost-efficient systems, are expected to increase the demand for physical security market in the coming years.
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Top Key Players: -
The industry players participating in the physical security market include EMC Corporation, McAfee, Inc., Genetec, Inc. NICE Systems Ltd., Cisco Systems, Inc., Honeywell Security Group, Morpho S.A., Pelco, Inc., Axis Communications, Bosch Security Systems, IBM Corporation, Siemens AG, and Tyco International Ltd.
Market share calculation in this report is not done based on companies covered in it. The calculation of physical security market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
sia Pacific is predicted to account for the highest market share in the physical security market owing to the growing deployment of security devices by the government in the countries, such as China and India, in public safety and transportation sectors. Furthermore, the growing IT industry and rapid industrialization in these countries will have a positive impact on the physical security market growth in this region.
North America is predicted to grow at a significant CAGR over the forecast time frame owing to the growing demand for the use of access control systems in various verticals such as retail, government, and banking sectors. In addition, support and maintenance activities for the current systems are predicted to drive the physical security market growth in this region.
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The growing implementation of advanced technologies, such as cloud, intelligence, and analytics-based safety systems, is expected to improve the safety landscape. In addition, increasing investments in hybrid solutions for real-time monitoring are anticipated to boost the physical security market growth over the forecast time frame. The emerging necessity to safeguard business assets, customers, and employees against growing frequencies of attack has led to a significant market growth.
Based on application, the physical security market can be segmented into logistics, retail, transportation, utilities, government, public, chemical, telecom & IT, defense & military, and banking sectors. The transportation & logistics sector is predicted to be the fastest growing segment over the forecast timeline owing to the increasing safety threats and technological advancements such as cloud-based data storage & data analytics.
On the basis of service type, the physical security market can be segmented into Public Safety Answering Point (PSAP), technical support, Video Surveillance as a Service (VSaaS), public alert & warning system, and remote management services. The VSaaS market is expected to grow at the highest rate owing to the increased government spending for safety monitoring at airports, railway stations, and streets.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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