The global physical security market size reached US$ 124.3 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 211.4 Billion by 2032, exhibiting a growth rate (CAGR) of 6.1% during 2023-2032.
Physical security protects physical assets, personnel, software, hardware, networks, and property from physical actions and events that could cause profound loss or damage. Some of these instances include natural disasters, burglary, fire, floods, robbery, vandalism, terrorism, and theft. It involves the use of multiple layers of interdependent systems, including perimeter intrusion detection, access control, security systems, locks, deterrent systems, fire protection, CCTV surveillance, and security guards. Physical security assists in tracking security breaches, preventing unauthorized access to facilities, and maintaining trust and confidence. As a result, physical security finds extensive applications across the transportation, retail, information technology (IT), telecommunications and banking, financial services, and insurance (BFSI) industries.
2. What is the expected growth rate of the global physical security market during 2024-2032?
3. What are the key factors driving the global physical security market?
4. What has been the impact of COVID-19 on the global physical security market?
5. What is the breakup of the global physical security market based on the component?
6. What is the breakup of the global physical security market based on enterprise size?
7. What is the breakup of the global physical security market based on the industry vertical?
8. What are the key regions in the global physical security market?
9. Who are the key players/companies in the global physical security market?
Physical security protects physical assets, personnel, software, hardware, networks, and property from physical actions and events that could cause profound loss or damage. Some of these instances include natural disasters, burglary, fire, floods, robbery, vandalism, terrorism, and theft. It involves the use of multiple layers of interdependent systems, including perimeter intrusion detection, access control, security systems, locks, deterrent systems, fire protection, CCTV surveillance, and security guards. Physical security assists in tracking security breaches, preventing unauthorized access to facilities, and maintaining trust and confidence. As a result, physical security finds extensive applications across the transportation, retail, information technology (IT), telecommunications and banking, financial services, and insurance (BFSI) industries.
Physical Security Market Trends:
Increasing security concerns and a surge in terror attacks across the globe are creating a positive outlook for the market. Governments of various countries are focusing on installing advanced video surveillance and access control systems to prevent terrorism, crime incidents, and severe damage to infrastructure and people. Additionally, the growing utilization of drones, smart fence sensors, and mass notification systems (MNS) for surveillance at major events or assemblies is favoring the market growth. Apart from this, the integration of artificial intelligence (AI) to identify potential areas of compromise while analyzing images, videos, and other data to differentiate threats from standard activities are providing an impetus to the market growth. Moreover, the increasing awareness about physical security solutions in residential spaces owing to the increasing theft and robbery incidences is acting as another growth-inducing factor. Furthermore, the installation of automated home security solutions for door locking and intruder, fire, and LPG gas leakage detections are positively influencing the market growth. Other factors, including increasing digitization, widespread adoption of cloud-based data storage, and the rising demand for video surveillance solutions for efficient monitoring of large areas, are supporting the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global physical security market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, enterprise size and industry vertical.Breakup by Component:
- System
- Services
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- Retail
- Transportation
- Residential
- IT and Telecom
- BFSI
- Government
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The competitive landscape of the industry has also been examined along with the profiles of the key players being ADT LLC, Assa Abloy AB, Axis Communications AB (Canon Inc.), Cisco Systems Inc., Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd. (China Electronics Technology Group Corporation), Honeywell International Inc., Johnson Controls International, Pelco Incorporated (Motorola Solutions Inc.), Robert Bosch GmbH (Robert Bosch Stiftung GmbH), Senstar Corporation, Siemens AG and STANLEY Convergent Security Solutions Inc. (Stanley Black & Decker Inc.).
Key Questions Answered in This Report
1. What was the size of the global physical security market in 2023?2. What is the expected growth rate of the global physical security market during 2024-2032?
3. What are the key factors driving the global physical security market?
4. What has been the impact of COVID-19 on the global physical security market?
5. What is the breakup of the global physical security market based on the component?
6. What is the breakup of the global physical security market based on enterprise size?
7. What is the breakup of the global physical security market based on the industry vertical?
8. What are the key regions in the global physical security market?
9. Who are the key players/companies in the global physical security market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Physical Security Market
6 Market Breakup by Component
7 Market Breakup by Enterprise Size
8 Market Breakup by Industry Vertical
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- ADT LLC
- Assa Abloy AB
- Axis Communications AB (Canon Inc.)
- Cisco Systems Inc.
- Genetec Inc.
- Hangzhou Hikvision Digital Technology Co. Ltd. (China Electronics Technology Group Corporation)
- Honeywell International Inc.
- Johnson Controls International
- Pelco Incorporated (Motorola Solutions Inc.)
- Robert Bosch GmbH (Robert Bosch Stiftung GmbH)
- Senstar Corporation
- Siemens AG and STANLEY Convergent Security Solutions Inc. (Stanley Black & Decker Inc.)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 139 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 124.3 Billion |
| Forecasted Market Value ( USD | $ 211.4 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
