Physical Security Market Poised to Hit $177.59 Billion by 2029 with Accelerating Growth Trends

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Physical Security Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been a progressive growth in the physical security market size. This market is projected to increase from $122.5 billion in 2024 to $128.43 billion in 2025, at a compound annual growth rate (CAGR) of 4.8%. The historic period growth can be credited to robust economic expansion in emerging markets, greater utilization of mobile surveillance technology systems, heightened occurrences of terror attacks, and the increased adoption of Internet protocol (IP)-based cameras for video surveillance.

How Will the Physical Security Market Size Evolve and Grow by 2029?
Anticipations are high for a robust growth in the physical security market in the forthcoming years, expanding to a size of $177.59 billion by 2029, marking a Compound Annual Growth Rate (CAGR) of 8.4%. The projected growth during this period could be credited to the increasing global population and urbanization. Prominent features for this growth include the amalgamation of video surveillance systems with access control systems, and the low-cost investment of video surveillance as a service (VSaaS). Key trends over the next few years point towards an emphasis on novel technologies like 3D digital light detection and ranging (lidar) technology, coupled with the creation of new product solutions to consolidate market position. There's also attention being paid to cloud-based security solutions to enhance workplace safety by centralizing security operations, management, and ensuring adaptability with real-time monitoring. Product innovation, specifically in access management and touchless technology is another focal point, aimed at enhancing the product portfolio. Artificial Intelligence (AI) utilization, strategic collaborations, and mergers to boost financial resilience, product range, and geographical footprint are other key aspects. Further, the growing emphasis on the Internet of Things (IoT) to provide real-time security notifications may transform the conventional norms of physical security.

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What Drivers Are Propelling the Growth of Physical Security Market Forward?
The surge in terrorist incidents is projected to stimulate the expansion of the physical security market. The concept of a terrorist attack involves leveraging violence or threats to generate fear in a significant group of people. Physical security functions by thwarting unofficial entries by terrorists, hence controlling potential terror attacks. As a consequence, the rising frequency of these events should foster the success of the physical security market. For instance, ReliefWeb, a non-governmental organization based in the US, reported in March 2023 that compared to 2021 where the average fatality rate was 1.3 per terrorist attack, this increased to 1.7 per occurrence in 2022. This marks the first instance of a rise in the fatality rate in half a decade. Thus, the escalating occurrence of terrorist incidents is prompting the physical security market's growth.

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Which Emerging Trends Are Transforming the Physical Security Market in 2025?
The primary trend that's quickly rising in prominence within the physical security market is technological innovation. Major players in this market are focusing their efforts on creating technologically elevated security systems to maintain their competitive edge. For example, Tuchware, an electronics company based in India, unveiled its Smart Lock vendor, the XS series, in February 2022. This product is paired with a distinctive hotel management software named hotel-XS. This unique offering integrates a door lock card management interface, along with other administrative functions related to hotel management, such as booking, personnel, inventory management, and billing. The smart lock has been exclusively designed with a single body of stainless steel 304 grade instead of mild steel or aluminum alloys, making it the most resilient choice available on the Indian market.

What Are the Key Segments in the Physical Security Market?
The physical securitymarket 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

Subsegments:
1) By Systems: Video Surveillance Systems, CCTV Cameras, IP Cameras, Video Management Software, Access Control Systems, Card-Based Systems, Biometric Systems, Electronic Locks, Intrusion Detection Systems, Alarm Systems, Motion Sensors, Perimeter Security Systems, Fire Safety Systems, Fire Alarms, Fire Suppression Systems, Integrated Security Systems, Unified Security Platforms
2) By Services: Consultation Services, Security Assessment And Planning, Risk Analysis, Installation Services, Equipment Installation, System Configuration, Monitoring Services, Remote Monitoring, Alarm Response Services, Maintenance Services, Routine Inspections, Repair Services, Training Services, User Training On Security Systems, Emergency Response Training

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Who Are the Key Players Shaping the Physical Security Market's Competitive Landscape?
Major companies operating in the physical security market include 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, 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, 2N Telekomunikace a.s, AxxonSoft, Intelligent Security System, Beward Co, Securitas Romania, SSC Security Services Corp, Paragon Security Verkada Inc, Ajax Systems, Ava Security, Cloudvue, Evolv Technology, Securiguard, Farnek Services LLC, Safeway Security Services, Grupo GR, Brink's, VIPSEG, Grupo Forteseg, Fidelity Services Group, Halogen Security Company Limited, Bemil Nigeria Limited, Proton Security Services, Securex Agencies Limited

What Geographic Markets Are Powering Growth in the Physical Security Market?
North America was the largest region in the physical security market in 2024. The regions covered in the physical security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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