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Physical Security Market

Segmentation By Component [System {Video Surveillance System; Physical Access Control System (Biometrics, and Smart Cards & Readers); Perimeter Intrusion Detection & Prevention; Fire & Life Safety and Others} and Services (Access Control as a Service and Security Systems Integration Services)]; By Organization Size (SME and Large Enterprises); By Vertical (Government & Defense, IT and Others) - Global Industry Demand Analysis and Opportunity Assessment 2018-2028

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Report ID: 2528 | Published On: Feb 07, 2023
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Global Physical Security Market

1. Introduction

1.1. Market Definition

1.2. Market Segmentation

2. Research Methodology

2.1. Variables (Dependent and Independent)

2.2. Multi Factor Based Sensitivity Model

3. Executive Summary- Global Physical Security Market

4. Market Dynamics

4.1. Drivers

4.2. Challenges

4.3. Opportunities

4.4. Trends

5. Assessment of Impact of COVID-19 on Physical Security Market

6. Assessment of Opportunities and Spending For Physical Security Based on-

6.1. Systems

6.2. Services

7. Global Physical Security Market Outlook

7.1. Market Size and Forecast, 2018-2028

7.1.1. By Value (USD Million)

By Component

• System, 2018-2028F (USD Million)

• Video Surveillance System, 2018-2028F (USD Million)

• Cameras, 2018-2028F (USD Million)

• Analog Cameras, 2018-2028F (USD Million)

• IP Cameras, 2018-2028F (USD Million)

• Recorders, 2018-2028F (USD Million)

• Network Video Recorders, 2018-2028F (USD Million)

• Digital Video Recorders, 2018-2028F (USD Million)

• Physical Access Control System, 2018-2028F (USD Million)

• Biometrics, 2018-2028F (USD Million)

• Fingerprint Recognition, 2018-2028F (USD Million)

• Facial Recognition, 2018-2028F (USD Million)

• Others, 2018-2028F (USD Million)

• Locks, 2018-2028F (USD Million)

• Mechanical Locks, 2018-2028F (USD Million)

• Electronic Locks, 2018-2028F (USD Million)

• Smart Cards and Readers, 2018-2028F (USD Million)

• Perimeter Intrusion Detection and Prevention, 2018-2028F (USD Million)

• Security Scanning, Imaging, and Metal Detection, 2018-2028F (USD Million)

• Fire and Life Safety, 2018-2028F (USD Million)

• Others, 2018-2028F (USD Million)

• Services, 2018-2028F (USD Million)

• Access Control as a Service, 2018-2028F (USD Million)

• Video Surveillance as a Service, 2018-2028F (USD Million)

• Remote Monitoring Service, 2018-2028F (USD Million)

• Security Systems Integration Services, 2018-2028F (USD Million)

By Organization Size

• Small and Medium Enterprises (SMEs), 2018-2028F (USD Million)

• Large Enterprises, 2018-2028F (USD Million)

By Vertical

 Government and Defense

Global Manned Guarding Market, 2018-2028F (USD Million)

By Region

• North America, 2018-2028F (USD Million)

   By Component

   By Organization Size

   By Vertical

   By Country

  North America Manned Guarding Market, 2018-2028F (USD Million)

• Mechanical Locks, 2018-2028F (USD Million)

• Electronic Locks, 2018-2028F (USD Million)

• Smart Cards and Readers, 2018-2028F (USD Million)

• Perimeter Intrusion Detection and Prevention, 2018-2028F (USD Million)

• Security Scanning, Imaging, and Metal Detection, 2018-2028F (USD Million)

• Fire and Life Safety, 2018-2028F (USD Million)

• Others, 2018-2028F (USD Million)

• Services, 2018-2028F (USD Million)

• Access Control as a Service, 2018-2028F (USD Million)

• Video Surveillance as a Service, 2018-2028F (USD Million)

• Remote Monitoring Service, 2018-2028F (USD Million)

• Security Systems Integration Services, 2018-2028F (USD Million)

   By Organization Size

   By Vertical

   By Country

• Germany, 2018-2028F (USD Million)

• UK, 2018-2028F (USD Million)

• France, 2018-2028F (USD Million)

• Italy, 2018-2028F (USD Million)

• Spain, 2018-2028F (USD Million)

• Benelux, 2018-2028F (USD Million)

• Nordic, 2018-2028F (USD Million)

• Hungary, 2018-2028F (USD Million)

• Poland, 2018-2028F (USD Million)

• Turkey, 2018-2028F (USD Million)

• Rest of Europe, 2018-2028F (USD Million)

Europe Manned Guarding Market, 2018-2028F (USD Million)

• Asia-Pacific, 2018-2028F (USD Million)

   By Component

   By Organization Size

   By Vertical

   By Country

• China, 2018-2028F (USD Million)

• India, 2018-2028F (USD Million)

• Japan, 2018-2028F (USD Million)

• South Korea, 2018-2028F (USD Million)

• Indonesia, 2018-2028F (USD Million)

• Singapore, 2018-2028F (USD Million)

• Malaysia, 2018-2028F (USD Million)

• Rest of Asia-Pacific, 2018-2028F (USD Million)

Asia-Pacific Manned Guarding Market, 2018-2028F (USD Million)

• Latin America, 2018-2028F (USD Million)

   By Component

   By Organization Size

   By Vertical

   By Country

• Brazil, 2018-2028F (USD Million)

• Mexico, 2018-2028F (USD Million)

• Argentina, 2018-2028F (USD Million)

• Rest of Latin America, 2018-2028F (USD Million)

Latin America Manned Guarding Market, 2018-2028F (USD Million)

• Middle East & Africa, 2018-2028F (USD Million)

   By Component

   By Organization Size

   By Vertical

   By Country

• South Africa, 2018-2028F (USD Million)

• GCC, 2018-2028F (USD Million)

• Israel, 2018-2028F (USD Million)

• Rest of Middle East & Africa, 2018-2028F (USD Million)

Middle East & Africa Manned Guarding Market, 2018-2028F (USD Million)

8. Competitive Landscape

8.1. Bosch Building Technologies

8.2. Honeywell International Inc.

8.3. Cisco Systems Inc.

8.4. Johnson Control International PLC

8.5. Secom Co. Ltd.

8.6. Genetec Inc.

8.7. Axis Communications

8.8. Zhejiang Dahua Technology Co. Ltd

8.9. Securitas AB

8.10. Prosegur Compania De Segurida SA

8.11. Global Security Logistics

8.12. ADT Security Systems

8.13. Anixter, Inc.

8.14. ISS Facility Services

8.15. CBRE Group, Inc.

8.16. Compass Group PLC

8.17. Trane Technologies PLC

8.18. EMCOR Group, Inc.

8.19. Gradaworld Corporation

8.20. G4S PLC

Market Segmentation Synopsis

By Vertical

The global physical security market has been segmented on the basis of vertical into government & defense, BFSI, retail, residential, transportation, IT and others. The government & defense segment with 23.38% market share in the year 2018 held the dominant market share in the global physical security market. Moreover, the segment is anticipated to attain an incremental $ opportunity of USD 435.8 million in the year 2020 as compared to the previous year. On the other hand, the segment is expected to grow by a CAGR of 7.28% during the forecast period.

Physical Security Market Share

Pictorial Representation of the Different Types of Physical Security Component Systems
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Growth Highlights based on Region during 2018-2028

The global physical security market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East & Africa. Among these regions, the market of North America physical security market held the largest market share of 39.69% in the year 2018 and is driven by U.S. and Canada, where U.S. held the dominant market value of USD 26872.5 million in the year 2018 and is anticipated to register a CAGR of 7.16% during the forecast period. On the other hand, the market in North America is anticipated to achieve an incremental $ opportunity of USD 2763.4 million in the year 2020 as compared to the previous year. Moreover, the market is anticipated to achieve absolute $ opportunity of USD 34954.3 million throughout the forecast period.

On the other hand, the market in Europe is anticipated to grow by 1.80x during the forecast period and reach a value of USD 53335.0 million by the end of 2028 by registering a CAGR of 7.66% during the forecast period.

Physical Security Market Share

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Market Drivers and Challenges

Growth Indicators

Increasing Focus on Smart Cities Projects

Smart cities use different kinds of Internet of Things (IoT)-based sensors to collect data for the efficient management of assets, resources and services. IoT technology allows for advanced intelligence and mobility that will make cities more effective in using resources to improve everything including security and surveillance, air quality, water quality, transport, power and communication system. Security and surveillance is one of the main sectors of the smart cities projects which involves a significant amount of investment. There are several smart cities projects going on across the globe which is addressing the need for the installation of physical security solutions for enhancing the security and surveillance of the area. The increasing number of smart cities projects across the globe is one of the major driving factors for the growth of physical security market.

Increasing Adoption of Fire Safety Kits in Residential and Commercial Settings

Backed by the increasing stringent regulations imposed by the government of nations around the world to safeguard human lives, several nations worldwide, such as the US and several European and Asian countries have implemented such laws mandating the installation of fire alarms and smoke detectors in residential and commercial settings. Such a factor is anticipated to drive the growth of the global physical security market in the coming years.

Barriers

Fear of Product Exploitation Through Hacking

There is a rising fear for the security of security products such as CCTVs, which work over the internet and are severely prone to hackers. Several number of incidences observed over the years for theft of data by hackers, coupled with factors such as the products being prone to single point of failure and concerns for data privacy are some of the factors anticipated to restrict the growth of the global physical security market.

Physical Security Market Share
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Top Featured Companies Dominating In The Market

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the Physical Security market?

Ans: Growing demand for the security and surveillance of the smart cities is one of the major factors that is driving the growth of the market.

2) What would be the CAGR of Physical Security market over the forecast period?

Ans: The market is anticipated to attain a CAGR of 8.03% over the forecast period, i.e. 2020-2028.

4) Which region will provide more business opportunities for growth of Physical Security market in future?

Ans: The market in Europe is anticipated to provide more business opportunities in the future.

5) Who are the major players dominating the Physical Security market?

Ans: The major players in the global physical security market are Bosch Sicherheitssysteme Gmbh, Axis Communications AB, Honeywell International Inc., Cisco Systems, Inc., Johnson Controls International PLC, Secom Co., Ltd., Genetec Inc., Zhejiang Dahua Techno

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the major segments in the global physical security market?

Ans: The market is majorly segmented by component, organization size, vertical and by region.

8) What can be the significant growth opportunity for the vertical segment in the global physical security market?

Ans: The government & defense segment, which is a sub-segment of the vertical segment, held the largest market share of 23.38% in the year 2018 and is expected to display significant growth opportunity.

8) What are the restraining factors for the market?

Ans: Growing concerns for data privacy and the security products being prone to hackers and increasing data thefts are some of the factors are some of the major factors anticipated to act as a barrier towards the growth of the global physical security market.

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