Research Report Explores the Physical Security Market Size, Share, Growth and Forecast, 2021 to 2030

WILMINGTON, DE, UNITED STATES, February 13, 2024 /EINPresswire.com/ — According to the report, the global Physical Security Market Size was valued at $104.6 billion in 2020, and is estimated to reach $192.9 billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030.

The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape. Based on region, North America is the largest supplier of physical security solutions across the world, and the U.S. leads the global market as compared to other countries.

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Physical security is a component of a wider security strategy. Security experts agree that the three most important components of a physical security plan are access control, surveillance, and security testing, which work together to make any space more secure. Access control may start at the outer edge of a security perimeter, which one should establish early in the process. Users can use fencing and video surveillance to monitor access to the facility and secure the outdoor area, especially if they have on-site parking or other outside resources. Furthermore, growth in the number in terror attacks and growing awareness boost the growth of the global physical security market. In addition, growth in technological advancements also positively impacts the growth of the market. However, privacy concerns and lack of physical and logical security integration hamper the market growth. On the contrary, increase in demand for physical security in smart cities is expected to offer remunerative opportunities for expansion of the market during the forecast period.

The physical security information management segment is expected to experience fastest growth in the coming years, as it collects and correlates events from existing disparate security devices and information systems (video, access control, sensors, analytics, networks, building systems, etc.) to empower personnel to identify and proactively resolve situations.

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Impact of COVID-19 Pandemic on Physical Security Market:

• The Covid-19 pandemic provided new growth opportunities as security measures have been implemented across various verticals to ensure business continuity during the post-lockdown period. The thermal cameras have been installed to detect the temperature of visitors and employees in commercial, industrial, and banking spaces.

• In residential spaces, building operators have been installing “Building Wellness” systems and various products to meet the new standards of safety for its residents.

• The demand for ACaaS and VSaaS services has grown significantly as customers want more value from their investments in the times of economic turbulence and investing less upfront capital expenditure.

Based on region, North America is the largest supplier of physical security solutions across the world, and the U.S. leads the global market as compared to other countries. However, Asia-Pacific is expected to register a considerable growth throughout the forecast period. China leads the market in Asia-Pacific.

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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.

Table of Content:
Chapter 1 : INTRODUCTION
Chapter 2 : EXECUTIVE SUMMARY
Chapter 3 : MARKET OVERVIEW
Chapter 4 : PHYSICAL SECURITY MARKET, BY COMPONENT
Chapter 5 : PHYSICAL SECURITY MARKET, BY SYSTEMS TYPE
Chapter 6 : PHYSICAL SECURITY MARKET, BY SERVICE TYPE
Chapter 7 : PHYSICAL SECURITY MARKET, BY ENTERPRISE SIZE
Chapter 8 : PHYSICAL SECURITY MARKET, BY INDUSTRY VERTICAL
Chapter 9 : PHYSICAL SECURITY MARKET, BY REGION
Chapter 10 : COMPANY LANDSCAPE
Chapter 11 : COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES

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