Physical Security Global Market Expected to Witness $165.94 Billion with Impressive Growth at a 7.3% CAGR By 2028 | Allied Universal, SECOM Co Ltd., ADT LLC, Cisco Systems Inc., Dahua Tech

"The new report published by The Business Research Company, titled Physical Security Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the physical security market size has grown strongly in recent years. It will grow from $117.43 billion in 2023 to $125.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The physical security market size is expected to see strong growth in the next few years. It will grow to $165.94 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.

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The Rise In Terrorist Activities Propels The Physical Security Market Growth
The increasing incidents of terrorist attacks are expected to boost the growth of the physical security market going forward. A terrorist attack refers to the use of violence or threats to instill fear among a large audience. Physical security provides robust security by preventing the unauthorized access of terrorists and will help in minimizing terror attacks, as a result, increasing incidents of terrorist attacks are expected to boost the physical security market. For instance, in 2021, according to the Institute for Economics and Peace, a Sydney-based organization dedicated to the study of peace, 5,226 terrorist attacks occurred globally, an increase of 17% from previous years. Therefore, the increasing incidents of terrorist attacks are driving the growth of the physical security market.

Technological Innovations Drive Advancements In The Physical Security Market
Technological advancement is the key trend gaining popularity in the physical security market. Major companies operating in the physical security market are focusing on developing technologically advanced security systems to sustain their position in the market. For instance, in February 2022, Tuchware, an India-based electronics company launched the Smart Lock vendor, XS series which comes with a hotel management software hotel-XS. The unique feature includes an integrated door lock card management interface in addition to other hotel administration functions such as booking management, personnel management, inventory management, and invoicing. The smart lock is specially created with a single body of stainless steel 304 grade as opposed to mild steel or aluminum alloys, making it the most durable option on the Indian market.

The physical security market covered in this report is segmented -
1) By Component: Systems, Services
2) By Organization Size: Small And Medium-Sized Enterprises(SMEs), Large Enterprises
3) By End-User: Transportation, Government , Banking And Finance, Utility And Energy, Residential, Industrial, Retail, Commercial, Hospitality, Other End Users

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Major companies operating in the physical security market report are Hangzhou Hikvision Digital Technology Co., Ltd, Allied Universal, SECOM Co Ltd, WESCO International, Inc, ADT LLC, Cisco Systems Inc,Axis Communications AB, Honeywell International, Inc., Dahua Tech, Stanley Convergent, Zicom Electronic Security Systems, Godrej Security Solutions, Samsung Techwin, Sony Corporation, Panasonic Corporation, Safety Systems, Genetec, Bosch Security, Milestone Systems, Vanderbilt Industries, Nedap Security Management, Avigilon, G4S Secure Solutions, Prosegur Compañía de Seguridad, S.A, Securitas AB, Salto Systems, Paxton Access, ABAX Systems Sp. z o.o, SATEL S.A., ELDES Sp. z o.o, MICRONIX s.r.o, CETIN a.s, 2N Telekomunikace a.s, AxxonSoft, Intelligent Security System, Beward Co, Securitas Romania, Rheinmetall Automotive AG, SSC Security Services Corp, Paragon Security Verkada Inc, Ajax Systems, Ava Security, Cloudvue, Evolv Technology, Securiguard, Farnek Services LLC, Aqua Security, Safeway Security Services, Grupo GR, Brink's, Sodexo, VIPSEG, Grupo Forteseg, Fidelity Services Group, Halogen Security Company Limited, Bemil Nigeria Limited, Proton Security Services, Securex Agencies Limited

Contents of the report:
1. Executive Summary
2. Physical Security Market Report Structure
3. Physical Security Market Trends And Strategies
4. Physical Security Market - Macro Economic Scenario
5. Physical Security Market Size And Growth
…..
27. Physical Security Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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