The global physical security market size is expected to reach USD 216.43 billion by 2030, registering a CAGR of 6.8% from 2023 to 2030. Lack of physical security leads to higher rates of burglaries and thefts. Therefore, safeguarding the physical perimeter and individual assets, including expensive technological equipment, has gained importance and is driving the market growth.
Increasing awareness about securing the perimeter in developing economies has led to a rise in deployment of IP-based cameras in residential societies as well as commercial complexes and offices. Furthermore, increasing terror threats, border disputes, and refugee crises drive the adoption of stringent safety measures, thereby driving the market growth.
For instance, in February 2022, Hangzhou Hikvision Digital Technology Co., Ltd, the world's prominent manufacturer of innovative video surveillance systems and solutions, introduced the TandemVu PTZ camera line, which combines PTZ and bullet camera capabilities into a single unit. These cameras can monitor broad regions and zoom in on individual security incidents while simultaneously maintaining attention on both viewpoints. Further, this camera would be deployed in commercial complexes and residential societies to reduce terror threats and adopt more physical security on the premises.
The increasing convergence of IT and OT technologies have potentially increased concern towards inbuilt security operations that are added into a network. As network video recorders (NVRs) and IP-based surveillance camera are network devices, they are vulnerable to become a target vector to get into a system. Furthermore, camera & biometrics offer robust physical security benefits. However, in a growing threat ecosystem, these devices are expected to evolve in order to enable safety for deployment in a critical infrastructure asset’s network.
Thus, securing the converged IT & OT network is emerging as one of the top priorities for several companies. For instance, in November 2021, InsightCyber Group, Inc., a company that offers physical, cyber systems to protect businesses, built an AI-driven physical security device for various industries such as transportation, manufacturing supply chain, and others. The physical security device has a wide range of OT machines and IT hardware technologies which would provide safety and protection to all customers, employees, and assets of the company with more security.
The technological advancement in physical security systems such as video analytics and machine learning are expected to drive the overall market. Moreover, the hardware is also gaining high traction which attributes to significant enhancement to the legacy surveillance camera system. For instance, in April 2022, Matrix Comsec., a prominent security solutions provider, launched a new 8MP dome IP camera. Large organizations and project environments will benefit from Matrix Project Series Dome Cameras. The cameras are suitable for outdoor and indoor monitoring needs, making them ideal for the modern businesses.
Further, the cameras have been designed with technology that improves image quality and provides robust physical security around the surroundings. Besides, in March 2022, Axis Communications AB., a Sweden-based company that offers services to private sectors and governments, launched a lightweight bullet camera- AXIS M2036-LE which offers quad HD 1440p and around 129° horizontal view, which supports machine learning and deep learning. These offerings have enticed customers and enterprises to witness the advantages of multiple connected cameras for security operations, thereby fuelling the market growth.
Leveraging IoT technology to enhance physical security is anticipated to be a potential factor driving the market growth. The IoT offers several ways to improve physical security and access control system. The connected sensors and devices, and automated alert system enhance the effectiveness of the security products and provide robust abilities such as intelligence monitoring, tampering alert, perimeter protection, and automobile tracking among others.
Thus, technological development and its exponential growth are anticipated to positively impact the market dynamics of the physical security market during the forecast period. For instance, in October 2022, Viakoo Inc., an American cybersecurity company, launched Action Platform, an automated IoT device management platform for managing, securing, and updating firmware, ensuring device password compliance, and providing IoT device certificates. The platform enables organizations to identify and resolve security flaws on connected systems and secure these devices' safety and security. Such innovative solutions and their deployment in the region are propelling the growth of the physical security market forward.
Increasing awareness about securing the perimeter in developing economies has led to a rise in deployment of IP-based cameras in residential societies as well as commercial complexes and offices. Furthermore, increasing terror threats, border disputes, and refugee crises drive the adoption of stringent safety measures, thereby driving the market growth.
For instance, in February 2022, Hangzhou Hikvision Digital Technology Co., Ltd, the world's prominent manufacturer of innovative video surveillance systems and solutions, introduced the TandemVu PTZ camera line, which combines PTZ and bullet camera capabilities into a single unit. These cameras can monitor broad regions and zoom in on individual security incidents while simultaneously maintaining attention on both viewpoints. Further, this camera would be deployed in commercial complexes and residential societies to reduce terror threats and adopt more physical security on the premises.
The increasing convergence of IT and OT technologies have potentially increased concern towards inbuilt security operations that are added into a network. As network video recorders (NVRs) and IP-based surveillance camera are network devices, they are vulnerable to become a target vector to get into a system. Furthermore, camera & biometrics offer robust physical security benefits. However, in a growing threat ecosystem, these devices are expected to evolve in order to enable safety for deployment in a critical infrastructure asset’s network.
Thus, securing the converged IT & OT network is emerging as one of the top priorities for several companies. For instance, in November 2021, InsightCyber Group, Inc., a company that offers physical, cyber systems to protect businesses, built an AI-driven physical security device for various industries such as transportation, manufacturing supply chain, and others. The physical security device has a wide range of OT machines and IT hardware technologies which would provide safety and protection to all customers, employees, and assets of the company with more security.
The technological advancement in physical security systems such as video analytics and machine learning are expected to drive the overall market. Moreover, the hardware is also gaining high traction which attributes to significant enhancement to the legacy surveillance camera system. For instance, in April 2022, Matrix Comsec., a prominent security solutions provider, launched a new 8MP dome IP camera. Large organizations and project environments will benefit from Matrix Project Series Dome Cameras. The cameras are suitable for outdoor and indoor monitoring needs, making them ideal for the modern businesses.
Further, the cameras have been designed with technology that improves image quality and provides robust physical security around the surroundings. Besides, in March 2022, Axis Communications AB., a Sweden-based company that offers services to private sectors and governments, launched a lightweight bullet camera- AXIS M2036-LE which offers quad HD 1440p and around 129° horizontal view, which supports machine learning and deep learning. These offerings have enticed customers and enterprises to witness the advantages of multiple connected cameras for security operations, thereby fuelling the market growth.
Leveraging IoT technology to enhance physical security is anticipated to be a potential factor driving the market growth. The IoT offers several ways to improve physical security and access control system. The connected sensors and devices, and automated alert system enhance the effectiveness of the security products and provide robust abilities such as intelligence monitoring, tampering alert, perimeter protection, and automobile tracking among others.
Thus, technological development and its exponential growth are anticipated to positively impact the market dynamics of the physical security market during the forecast period. For instance, in October 2022, Viakoo Inc., an American cybersecurity company, launched Action Platform, an automated IoT device management platform for managing, securing, and updating firmware, ensuring device password compliance, and providing IoT device certificates. The platform enables organizations to identify and resolve security flaws on connected systems and secure these devices' safety and security. Such innovative solutions and their deployment in the region are propelling the growth of the physical security market forward.
Physical Security Market Report Highlights
- Video surveillance system led the market in 2022, as these systems enable real-time continuous monitoring and help lower chances of theft
- System integration is anticipated to dominate the market through the forecast period owing to the factors such as stringent regulations and demand for the cost-effective systems
- The residential segment is predicted to register the highest CAGR during the forecast period owing to the measures taken by the consumers to protect their assets from potential threats
- North America dominated the market in 2022 and is estimated to remain dominant throughout the forecast period. The presence of key physical security market vendors such as Cisco Systems, Inc., Honeywell International, Inc., and Pelco is primarily responsible for the region's market growth. Businesses across the region are increasingly deploying physical security solutions to prevent identity theft, cyber-attacks, and commercial spying, as well as to ensure data security and privacy to facilitate business continuity
Table of Contents
Chapter 1 Methodology and Scope1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Physical Security - Market Snapshot & Key Buying Criteria, 2017 - 2030
2.1.1 Global Physical Security Market, 2017 - 2030
Chapter 3 Physical Security Industry Outlook
3.1 Market Segmentation
3.2 Physical Security - Market Size and Growth Prospects
3.3 Physical Security - Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Increasing Demand For Smart Security Services
3.4.1.2 Government Regulations
3.4.2 Market Restraint Analysis
3.4.2.1 Threat Of Network Vulnerabilities
3.5 Industry Analysis - Porter’s Analysis
3.6 Penetration & Growth Prospect Mapping
3.7 Physical Security - Key Company Analysis, 2022
3.8 Physical Security - PEST Analysis
Chapter 4 Physical Security Market: Component Estimates & Trend Analysis
4.1 Physical Security Market: Component Movement Analysis
4.2 Systems Market, 2017 - 2030 (USD Billion)
4.2.1 Physical Access Control Systems (PACS)
4.2.2 Video Surveillance System
4.2.3 Perimeter Intrusion Detection and Prevention
4.2.4 Physical Security Information Management (PSIM)
4.2.5 Physical identity and Access Management (PIAM)
4.2.6 Fire and Life Safety
4.3 Services Market, 2017 - 2030 (USD Billion)
4.3.1 System Integration
4.3.2 Remote Monitoring
4.3.3 Others
Chapter 5 Physical Security Market: Organization Size Estimates & Trend Analysis
5.1 Physical Security Market: Organization Size Movement Analysis
5.2 SMEs Market, 2017 - 2030 (USD Billion)
5.3 Large Enterprises, Market, 2017 - 2030 (USD Billion)
Chapter 6 Physical Security Market: End-User Estimates & Trend Analysis
6.1 Physical Security Market: End-User Movement Analysis
6.2 Transportation Market, 2017 - 2030 (USD Billion)
6.3 Government Market, 2017 - 2030 (USD Billion)
6.4 Banking & Finance Market, 2017 - 2030 (USD Billion)
6.5 Utility & Energy Market, 2017 - 2030 (USD Billion)
6.6 Residential Market, 2017 - 2030 (USD Billion)
6.7 Manufacturing & Industrial Market, 2017 - 2030 (USD Billion)
6.8 Retail Market, 2017 - 2030 (USD Billion)
6.9 Commercial Market, 2017 - 2030 (USD Billion)
6.10 Hospitality Market, 2017 - 2030 (USD Billion)
6.11 Other End-User Market, 2017 - 2030 (USD Billion)
Chapter 7 Physical Security Market: Regional Estimates & Trend Analysis
7.1 Physical security Market: Regional Movement Analysis
7.2 North America
7.2.1 North America physical security market, by component, 2017 - 2030 (USD Billion)
7.2.2 North America physical security market, by organization size, 2017 - 2030 (USD Billion)
7.2.3 North America physical security market, by end-user, 2017 - 2030 (USD Billion)
7.2.4 U.S.
7.2.4.1 U.S. physical security market, by component, 2017 - 2030 (USD Billion)
7.2.4.2 U.S. physical security market, by organization size, 2017 - 2030 (USD Billion)
7.2.4.3 U.S. physical security market, by end-user, 2017 - 2030 (USD Billion)
7.2.5 Canada
7.2.5.1 Canada physical security market, by component, 2017 - 2030 (USD Billion)
7.2.5.2 Canada physical security market, by organization size, 2017 - 2030 (USD Billion)
7.2.5.3 Canada physical security market, by end-user, 2017 - 2030 (USD Billion)
7.2.6 Mexico
7.2.6.1 Mexico physical security market, by component, 2017 - 2030 (USD Billion)
7.2.6.2 Mexico physical security market, by organization size, 2017 - 2030 (USD Billion)
7.2.6.3 Mexico physical security market, by end-user, 2017 - 2030 (USD Billion
7.3 Europe
7.3.1 Europe physical security market, by component, 2017 - 2030 (USD Billion)
7.3.2 Europe physical security market, by organization size, 2017 - 2030 (USD Billion)
7.3.3 Europe physical security market, by end-user, 2017 - 2030 (USD Billion)
7.3.4 U.K.
7.3.4.1 U.K. physical security market, by component, 2017 - 2030 (USD Billion)
7.3.4.2 U.K physical security market, by organization size, 2017 - 2030 (USD Billion)
7.3.4.3 U.K. physical security market, by end-user, 2017 - 2030 (USD Billion)
7.3.5 Germany
7.3.5.1 Germany physical security market, by component, 2017 - 2030 (USD Billion)
7.3.5.2 Germany physical security market, by organization size, 2017 - 2030 (USD Billion)
7.3.5.3 Germany physical security market, by end-user, 2017 - 2030 (USD Billion)
7.3.6 France
7.3.6.1 France physical security market, by component, 2017 - 2030 (USD Billion)
7.3.6.2 France physical security market, by organization size, 2017 - 2030 (USD Billion)
7.3.6.3 France physical security market, by end-user, 2017 - 2030 (USD Billion)
7.4 Asia Pacific
7.4.1 Asia Pacific physical security market, by component, 2017 - 2030 (USD Billion)
7.4.2 Asia Pacific physical security market, by organization size, 2017 - 2030 (USD Billion)
7.4.3 Asia Pacific physical security market, by end-user, 2017 - 2030 (USD Billion)
7.4.4 China
7.4.4.1 China physical security market, by component, 2017 - 2030 (USD Billion)
7.4.4.2 China physical security market, by organization size, 2017 - 2030 (USD Billion)
7.4.4.3 China physical security market, by end-user, 2017 - 2030 (USD Billion)
7.4.5 India
7.4.5.1 India physical security market, by component, 2017 - 2030 (USD Billion)
7.4.5.2 India physical security market, by organization size, 2017 - 2030 (USD Billion)
7.4.5.3 India physical security market, by end-user, 2017 - 2030 (USD Billion)
7.4.6 Japan
7.4.6.1 Japan physical security market, by component, 2017 - 2030 (USD Billion)
7.4.6.2 Japan physical security market, by organization size, 2017 - 2030 (USD Billion)
7.4.6.3 Japan physical security market, by end-user, 2017 - 2030 (USD Billion)
7.5 South America
7.5.1 South America physical security market, by component, 2017 - 2030 (USD Billion)
7.5.2 South America physical security market, by organization size, 2017 - 2030 (USD Billion)
7.5.3 South America physical security market, by end-user, 2017 - 2030 (USD Billion)
7.5.4 Brazil
7.5.4.1 Brazil physical security market, by component, 2017 - 2030 (USD Billion)
7.5.4.2 Brazil physical security market, by organization size, 2017 - 2030 (USD Billion)
7.5.4.3 Brazil physical security market, by end-user, 2017 - 2030 (USD Billion)
7.6 MEA
7.6.1 MEA physical security market, by component, 2017 - 2030 (USD Billion)
7.6.2 MEA physical security market, by organization size, 2017 - 2030 (USD Billion)
7.6.3 MEA physical security market, by end-user, 2017 - 2030 (USD Billion)
Chapter 8 Competitive Landscape
8.1 Axis Communications AB
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.1.4 Recent Developments
8.2 Siemens
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.2.4 Recent Developments
8.3 Cisco Systems Inc.
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.3.4 Recent Developments
8.4 Genetec Inc.
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Product Benchmarking
8.4.4 Recent Developments
8.5 ADT LLC
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.5.4 Recent Developments
8.6 Hangzhou Hikvision Digital Technology Co., Ltd.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.6.4 Recent Developments
8.7 Honeywell International Inc.
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.7.4 Recent Developments
8.8 Johnson Controls
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Product Benchmarking
8.8.4 Recent Developments
8.9 Robert Bosch GmbH
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Product Benchmarking
8.9.4 Recent Developments
8.10 Pelco
8.10.1 Company Overview
8.10.2 Financial Performance
8.10.3 Product Benchmarking
8.10.4 Recent Developments
List of Tables
Table 1 Global physical security market, 2017 - 2030 (USD Billion)
TABLE 2 Global physical security market, by region, 2017 - 2030 (USD Billion)
TABLE 3 Global physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 4 Global physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 5 Global physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 6 Global systems market by region, 2017 - 2030 (USD Billion)
TABLE 7 Global physical access control system (PACS) market by region, 2017 - 2030 (USD Billion)
TABLE 8 Global video surveillance system market by region, 2017 - 2030 (USD Billion)
TABLE 9 Global perimeter intrusion detection and prevention market by region, 2017 - 2030 (USD Billion)
TABLE 10 Global physical security information management (PSIM) market by region, 2017 - 2030 (USD Billion)
TABLE 11 Global physical identity and access management (PIAM) market by region, 2017 - 2030 (USD Billion)
TABLE 12 Global fire and life safety market by region, 2017 - 2030 (USD Billion)
TABLE 13 Global service market by region, 2017 - 2030 (USD Billion)
TABLE 14 Global system integration services market by region, 2017 - 2030 (USD Billion)
TABLE 15 Global remote monitoring services market by region, 2017 - 2030 (USD Billion)
TABLE 16 Global other services market by region, 2017 - 2030 (USD Billion)
TABLE 17 Global SMEs market by region, 2017 - 2030 (USD Billion)
TABLE 18 Global large enterprises market by region, 2017 - 2030 (USD Billion)
TABLE 19 Global transportation market by region, 2017 - 2030 (USD Billion)
TABLE 20 Global government market by region, 2017 - 2030 (USD Billion)
TABLE 21 Global banking & finance market by region, 2017 - 2030 (USD Billion)
TABLE 22 Global utility & energy market by region, 2017 - 2030 (USD Billion)
TABLE 23 Global residential market by region, 2017 - 2030 (USD Billion)
TABLE 24 Global manufacturing & industrial market by region, 2017 - 2030 (USD Billion)
TABLE 25 Global retail market by region, 2017 - 2030 (USD Billion)
TABLE 26 Global commercial market by region, 2017 - 2030 (USD Billion)
TABLE 27 Global hospitality market by region, 2017 - 2030 (USD Billion)
TABLE 28 Global other applications market by region, 2017 - 2030 (USD Billion)
TABLE 29 North America physical security, by component, 2017 - 2030 (USD Billion)
TABLE 30 North America physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 31 North America physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 32 U. S. physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 33 U.S. physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 34 U.S. physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 35 Canada physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 36 Canada physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 37 Canada physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 38 Mexico physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 39 Mexico physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 40 Mexico physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 41 Europe physical security, by component, 2017 - 2030 (USD Billion)
TABLE 42 Europe physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 43 Europe physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 44 U.K. physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 45 U.K. physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 46 U.K. physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 47 Germany physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 48 Germany physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 49 Germany physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 50 France physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 51 France physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 52 France physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 53 Asia Pacific physical security, by component, 2017 - 2030 (USD Billion)
TABLE 54 Asia Pacific physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 55 Asia Pacific physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 56 China physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 57 China physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 58 China physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 59 India physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 60 India physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 61 India physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 62 Japan physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 63 Japan physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 64 Japan physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 65 South America physical security, by component, 2017 - 2030 (USD Billion)
TABLE 66 South America physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 67 South America physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 68 Brazil physical security market, by component, 2017 - 2030 (USD Billion)
TABLE 69 Brazil physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 70 Brazil physical security market, by end-user, 2017 - 2030 (USD Billion)
TABLE 71 MEA physical security, by component, 2017 - 2030 (USD Billion)
TABLE 72 MEA physical security market, by organization size, 2017 - 2030 (USD Billion)
TABLE 73 MEA physical security market, by end-user, 2017 - 2030 (USD Billion)
List of Figures
Fig. 1 Market Snapshot
FIG. 2 Market Segmentation & Scope
FIG. 3 Physical Security - Market size and growth prospects
FIG. 4 Physical Security - Value chain analysis
FIG. 5 Market Dynamics
FIG. 6 Porter’s Five Forces Analysis
FIG. 7 Penetration & Growth Prospect Mapping
FIG. 8 Key Company Analysis, 2020
FIG. 9 Physical security market - PEST analysis
FIG. 10 Physical security market: Component movement analysis
FIG. 11 Physical security market: Organization size movement analysis
FIG. 12 Physical security market: End-user movement analysis
FIG. 13 Physical security market: Regional movement analysis
FIG. 14 North America physical security market: Key takeways
FIG. 15 Europe physical security market: Key takeways
FIG. 16 Asia Pacific physical security market: Key takeways
FIG. 17 South America physical security market: Key takeways
FIG. 18 MEA physical security market: Key takeways
Companies Mentioned
- Axis Communications AB
- Siemens
- Cisco Systems Inc.
- Genetec Inc.
- ADT LLC
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International Inc.
- Johnson Controls
- Robert Bosch GmbH
- Pelco
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | February 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 127.01 Billion |
| Forecasted Market Value ( USD | $ 216.43 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
