Asia-Pacific Physical Security Market Growing Demand to Boost the Market Growth | Honeywell International, Huawei, NEC Corporation, Johnson Controls

Physical security involves protection of hardware, software, data, personnel, and networks against physical events and actions, which could potentially cause damage or loss to an organization. It provides safety from natural disasters, fire, theft, vandalism, and terrorism. It includes multiple layers containing interdependent systems, including security guards, CCTV surveillance, locks, protective barriers, access control protocols, and other similar techniques. Physical security devices can be broadly classified into three major components, namely, access control, surveillance, and security testing, which work together to make user space more secure. A comprehensive access control system and strategy also includes use of advanced locks, access control cards, mobile phones, or biometric authentication and authorization. Surveillance is another important component to consider within the space. Modern security systems can take advantage of multiple types of sensors, including those that detect motion, heat, and smoke for protection against intrusion and accidents.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

Rise in importance for physical security for organizations and identifying potential threats are the key drivers for market growth. Rapid adoption of contact less biometric systems in the pandemic and high demand for video surveillance solutions, specifically for remote monitoring activities are the major factors that propel the market growth. However, rise in issue of data privacy is expected to restrain the market growth. In addition, rapid growth of IoT network and emergence of advanced technologies such as AI and security analytics is estimated to be a game changer for the market.

The Asia-Pacific physical security market is primarily segmented on the basis of component, enterprise size, industry verticals, and country. On the basis of component, the market is bifurcated into system and services. The system segment is further divided into physical access system, video surveillance system, perimeter intrusion & detection, physical security information management, and others. In addition, the services segment is divided into access control-as-a-service, video surveillance-as-a-service, remote monitoring services, security systems integration services and others.

KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the physical security market along with current trends and future estimations to elucidate imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of physical security market for the period 2020-2027 is provided to determine the market potential.

KEY MARKET PLAYERS
- Cisco Systems
- Honeywell International
- Huawei
- NEC Corporation
- Johnson Controls
- Anixter
- Genetec
- ADT Corporation
- Axis Communication AB
- Bosch Security
- Computer Sciences Corporations
- DELL EMC Corporation

KEY MARKET SEGMENTS
BY COMPONENT
- System Type
- Service Type

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BY System Type
- Physical Access System
- Video Surveillance System
- Perimeter Intrusion and Detection
- Physical Security Information Management
- Others

BY Service Type

- Access Control-as-a-Service
- Video Surveillance-as-a-Service
- Remote Monitoring Services
- Security Systems Integration Services
- Others

BY ENTERPRISE SIZE

- Large Enterprises
- Small & Medium Enterprises

BY INDUSTRY VERTICAL

- BFSI
- Government
- Retail
- Transportation
- Residential
- IT and Telecom
- Others

BY COUNTRY
o China
o India
o Japan
o India
o Australia
o Indonesia
o Thailand
o Singapore
o Malaysia
o South Korea
o Vietnam
o Myanmar
o Rest of Asia-Pacific

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