Physical Security Market Reach USD 192.9 Billion By 2030 Growing with 6.5% CAGR

Allied Market Research published a new report, titled, "Physical Security Market Reach USD 192.9 Billion By 2030 Growing with 6.5% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global physical security market size was valued at USD 104.6 billion in 2020, and is projected to reach USD 192.9 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030.

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The rise in security breaches and malicious attacks in areas like transportation, healthcare, government, and commercial buildings is increasing the need for stronger physical security. Organizations are now focusing on real-time protection, from controlling access to preventing threats across their facilities. The threat landscape is becoming more complex, with attackers using a combination of physical intrusions and cyber techniques, along with insider threats, unauthorized drone activity, and coordinated break-ins at sensitive locations like hospitals and airports. To address these risks, businesses are investing in modern solutions such as integrated access control systems, smart sensors, and AI-powered surveillance that enhance safety without disrupting operations.

The physical security market is segmented on the basis of component, system type, service type, enterprise size, industry vertical, and geography. On the basis of component, it is classified into system, and services. On the basis of systems type, it is bifurcated into physical access system, video surveillance system, perimeter intrusion and detection, physical security information management, and others. On the basis of service type, it is segregated into access control as a service, video surveillance as a service, remote monitoring services, security system integration services, and others. On the basis of enterprise size, it is categorized into large enterprises, and SMEs. On the basis of industry vertical, it is divided into BFSI, government, retail, transportation, residential, IT and Telecom, and others. On the basis of region, the physical security market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players that operate in the physical security market analysis are ADT Inc., BAE Systems, Cisco system Inc., Genetec Inc., HONEYWELL INTERNATIONAL, INC., Johnson Controls, PELCO corporation, Robert Bosch GmbH, STANLEY CONVERGENT SECURITY SOLUTIONS, INC., and Senstar Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the physical security industry.

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What are the Top Impacting Factors in the Market

Surge in Terror Attacks

● Governments of various countries have increased their spendings on physical security due to rise in terrorism and increase in security concerns, globally. Key government institutions, such as embassies, parliaments, courts, and government offices focus on installing advanced video surveillance and access control systems. Newer technologies, such as drones, smart fence sensors, and mass notification systems (MNS) are used for surveillance at major events or assemblies in tier I cities.

● Moreover, several government agencies have implemented strict policies and guidelines for the installation of physical security systems. For instance, the U.S. Government enacted various laws, regulations, and industry guidelines, such as Federal Information Security Act of 2002, Payment Card Industry Data Security Standard (PCI DSS), Privacy Act (5 U.S.C. 552a), and Integrated Physical Security Standards & Procedures (IPSSP) for security requirements. This helps to boost the physical security software market towards growth.

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Region-wise, the physical security market was dominated by North America in 2020 and is the home to major players offering advanced solutions in the physical security market. In addition, increase in security measures across various industry verticals, such as commercial, transportation, government, and others owing to high terrorism incidences in the region, are expected to drive the growth of the market during the forecast period. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to the prominent government and police initiatives to enhance physical security software owing to the increase in crime rate. Factors such as increase in insider threats and physical attacks pose great risks on critical infrastructure zones, particularly in developing countries, such as China and India.

On the basis of component, the service segment holds the largest physical security market share and is expected to grow at the highest rate during the forecast period, owing to the rise in awareness of automated security solutions, such as door locking, intrusion detection, and fire detection systems by households and organizations had a huge positive impact on the physical security services market.

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