Physical Security Market - How COVID19 impacting on the Information Technology Industry?

United States,Washington: Physical security is physical and electronic measures for safeguarding personnel, prevention of unauthorized access to infrastructure, equipment, material, information, and installations against vandalism, sabotage, theft, and terrorism. The two primary concerns of physical security include prevention and protection serving the security interests of people, equipment, and property. The security of individuals, property, and information has become a critical global issue, in the recent past.

The global physical security market is estimated to account for US$ 500.2 Mn in terms of value by the end of 2027.

Global Physical Security Market and Competitive Analysis

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“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The Leading Key Players during this Industry: Axis Communications AB, VidSys Inc., Bosch Security Systems Inc., EMC Corporation, Morpho SA, Tyco International Ltd, HikVision Digital Technology Co., Ltd., Assa AB, Genetec Inc., Honeywell Security Group, Cisco Systems Inc., and Pelco Inc.

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APAC held dominant position in the global physical security market in 2019, accounting for 35.5% share in terms of value, followed by North America, Europe, and RoW respectively.

Safeguarding financial information, intellectual property, and the company’s brand image has become an essential part of business strategy. However, with increasing number of threats and the complexity of attacks, safeguarding the information, personnel and property has become a formidable challenge. As a result of this, companies have started increasing their expenditure on security measures. Moreover, many companies have improved their security budgets particularly for surveillance, access control, and intrusion detection and prevention systems. According to the data from The World Bank, the number of ATMs per 100, 000 adults has been increasing over the years. Such high-security concerns are expected to propel the global physical security market growth over the forecast period.

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Coherent Market Insights: The research report on Physical Security is a deep analysis of the market. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. Experts have studied the historical data and compared it with the changing market situations. The report covers all the necessary information required by new entrants as well as the existing players to gain deeper insight.

This release was published on openPR.