Press release
Burgeoning Physical Security Market: Projected Growth to $182.34 Billion by 2029 Driven by Advanced Tech and Terror Threats
Burgeoning Physical Security Market
Rapid growth in the global physical security market fueled by technological advancements and increasing incidents of terror attacks.
What Is The Projected Market Size Of The Global Physical Security Market And Its Growth Rate?
• Projected market size for the Physical Security Market in 2024: $122.5 billion
• Growth to $129.36 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%
• Expected to reach $182.34 billion by 2029 showing a compound annual growth rate (CAGR) of 9.0%
What Is Driving The Growth In The Physical Security Market?
The increase in incidents of terrorist attacks is a major driver of the physical security market. As the use of violence or threats to instill fear among large audiences continues to rise, more emphasis has been placed on physical security. It provides robust protection, preventing unauthorized access, and minimizing terror attacks, which in turn boosts the physical security market. For example, alarming increases in fatalities during attacks as reported by ReliefWeb have heightened concerns about security, thereby driving the growth of the physical security market.
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Who Are the Key Players Driving Physical Security Market Growth?
• Hangzhou Hikvision Digital Technology Co., Ltd
• Allied Universal
• SECOM Co Ltd
• ADT LLC
• 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
What Are The Key Trends In The Physical Security Market?
• Focus on new technologies such as 3D digital light detection and ranging (lidar) technology
• Development of new product solutions to strengthen the market position
• Emphasis on cloud-based security solutions to centralize security operations and management and provide real-time monitoring
• Push towards product innovations with a focus on access management and touchless technology
• Utilization of artificial intelligence (AI)
• Collaborations and acquisitions to improve financial strength, product portfolio, and geographical presence
• Focus on the expansion of the Internet of Things (IoT) for real-time security alerts
What Are The Segments Of The Global Physical Security Market?
The Physical Security Market is segmented by:
• Component: Systems, Services
• Organization Size: Small And Medium-Sized Enterprises(SMEs), Large Enterprises
• End-User: Transportation, Government, Banking And Finance, Utility And Energy, Residential, Industrial, Retail, Commercial, Hospitality, Other End Users
Which Region Leads The Physical Security Market?
North America was the leading region in the Physical Security Market in 2024. The report also covers regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Physical Security Market Global Market Report?
- Market Size Analysis: Analyze the Physical Security Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Physical Security Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Physical Security Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Physical Security Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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