01-11-2019 07:10 PM CET - IT, New Media & Software

Physical Security Market 2019-2023 Trends and Opportunities With Key Players - Anixter, EMC, Genetec, Honeywell, Hewlett Packard Enterprise, IBM, Cisco and Schneider Electric

Press release from: P&S Intelligence

The sophisticated access control systems, internet protocol (IP) video, and biometric solutions are anticipated to drive the demand for physical security solutions. Furthermore, the evolving trend of integrated physical security solutions, and increased demand for convergence of logical and physical security are expected to boost the growth of the global physical security market.

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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.

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.

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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