Growing Trends in Physical Security Market 2017 – 2023

North America dominates the global physical security market pertaining to increased terrorism incidence and enhanced security measures across diverse verticals including commercial; transportation, banking, financial services, and insurance (BFSI); residential; and others. Furthermore, growth in Asia-Pacific is expected to be the fastest among other regions, owing to prominent initiatives from the governments for enhancing safety and security standards.

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Physical Security Market was valued at $78 billion in 2016 and is projected to reach at $153 billion by 2023, supported with a CAGR of 10.3%. The advent of Internet of Things (IOT) has transformed the outlook of the global physical security market. Physical security comprises three essential elements, which include access control, surveillance, and testing. The physical sites are secured against attacks, accidents, or environmental disasters using locks, fencing, biometric access control systems, access control cards, and fire suppression systems. Physical locations are monitored by surveillance cameras and notification systems, including heat sensors, intrusion detection sensors, and smoke detectors. Disaster recovery procedures and policies requires periodic scrutiny to ensure better safety and reduce the time taken for recovering from disasters.

The Asia-Pacific physical security market is poised to grow at a significant rate during the forecast period. Physical security services segment dominated the global market in 2016, and is expected to maintain its dominance in the near future. Furthermore, the other industry verticals including education, healthcare, retail, energy & utilities, and manufacturing, and industrial have dominated the global market, as these are the major prime end users of physical security.

The report focuses on the growth prospects and restraints of the market based on the analysis of regional trends. The study provides Porter’s five forces analysis of the industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the growth of the market.

Physical security includes protection of hardware, software, data, personnel, and networks against physical events and actions, which could potentially cause damage or loss to an organization. It safeguards organizations from natural disasters, fire, theft, vandalism, and terrorism. It uses multiple layers of interdependent systems, which include security guards, CCTV surveillance, locks, protective barriers, access control protocols, and other similar techniques.

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Physical Security Market Key Segments:

The physical security market is segmented on the basis of type, industry vertical, and geography.

By Type

• System

○ Video Surveillance
○ Access & Entrance Control
○ Perimeter Intrusion & Detection

• Services

○ Remote Monitoring
○ Security Systems Integration

By Industry Vertical

• BFSI
• Commercial
• Government
• Residential
• Transportation

Key Market Players

• Anixter International Inc.
• Tyco International PLC.
• Cisco Systems, Inc.
• Genetec Inc.
• ADT Corporation
• Honeywell International, Inc.
• Bosch Security Systems, Inc.
• Stanley Security
• Senstar Corporation

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