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Physical Security Market Key Players - Anixter, EMC, Genetec, Honeywell, Hewlett Packard Enterprise, IBM and Cisco; Market Revenue and Demand by 2023
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Growth in smart cities, reduction in the use of analog cameras and rise in IP based cameras, and rise of digital systems provide increased opportunities to the physical security market. Increasing global security concerns and growing budget distributions for physical security by governments to prevent crime activities and terrorism are the major factors driving the demand for physical security.
The physical security market can be segmented on the basis of services, software, hardware and end-users. On the basis of services, the global physical security market can be divided into system integration, maintenance and support and designing and consulting. On the software basis, the market can be segmented into physical security information management (PSIM) and management, and analytics and modeling software.
Asia-Pacific region is anticipated to emerge as a significant factor for the growth of physical security market in the coming years as a result of continued investments in infrastructure and increasing criminal activities. North America is expected to experience a significant rise during the forecast period owing to favorable regulatory measures for the adoption of physical security solutions in the region. Lack of awareness and limited infrastructure are the major factors hindering the growth of the global physical security market.
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Major competitors in the global physical security market include Anixter Inc., Computer Sciences Corp, EMC Corporation, Genetec Inc., Honeywell International Inc., Hewlett-Packard Development Company, L.P., International Business Machines Corp, Cisco Systems Inc. and Schneider Electric, McAfee, Inc., Axis Communications Inc., Tyco, Robert Bosch GmbH and Morpho.
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