Physical Security Market Size & Analysis - Forecasts To 2025 By Type [System (Access Control, Locks, Video Surveillance, Physical Security Information Management, Perimeter Intrusion Detection & Prevention, Security Scanning, Imaging & Metal Detection, Fire & Life Safety), Service (System Integration, Maintenance & Support, Designing & Consulting)], By Vertical (Government, Defence & Public Sector, Transportation & Logistics,Telecom & IT, BFSI, Education, Retail. Oil, Gas & Energy, Hospitality & Residential, Others), By Region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa), End-Use Landscape, Vendor Landscape and Market Share & Competitive Landscape - Global Market Estimates
Physical Security Market Insights
The global physical security market is expected to grow at a significant CAGR of more than 10% over the forecast period. This growth is mainly attributed to growing demand for physical security to reduce risks associated with terror attacks, burglaries, and fire. The rising adoption of Internet of Things (IoT) and other cloud based data storages is also likely to stimulate the market for physical security.
The increasing adoption of logical security over conventional methods such as badge readers, alarm systems and door lock among others is expected to augment market growth over the coming years. However, challenges associated with integration of logical and physical components of security are projected to affect profitability.
Physical Security Market: Type Insights
On the basis of type, the industry is segmented into system and service. The system segment is further segregated into access control, locks, video surveillance, physical security information management, perimeter intrusion detection & prevention, security scanning, imaging & metal detection, and fire & life safety. The service segment is segregated into system integration, maintenance & support and designing & consulting.
The market for system integration service is expected to occupy the highest share owing to growing adoption of security strategies by organisations globally. Moreover, increasing application of cloud based solutions and other technologies for data security is likely to boost market growth.
The video surveillance segment under services is projected to grow at a significant CAGR over the coming years owing to rising safety concerns coupled with increasing spending on counter terrorism initiative. Increasing application of video surveillance in the institutional and commercial sectors is expected to reduce the incidence of criminal activities.
Physical Security Market: Vertical Insights
On the basis of vertical, the market is segmented into government, defence & public sector, transportation & logistics, telecom & IT, banking, financial services and insurance (BFSI), education, retail, oil, gas & energy, and hospitality & residential among others. The residential segment is anticipated to record the highest growth over the forecast period owing toincreasing incidences of theft, fire, and other attacks coupled with advancement in technology such as video surveillance, rapid intrusion system and smart access control among others.
The retail segment is projected to grow significantly over the years on account of rising adoption of physical security solutions to prevent theft and harassment cases. The transportation segment is also anticipated to grow at a significant CAGR owing to increasing adoption of physical security solutions such as video surveillance in order to monitor traffic conditions and avoid accidents.
Physical Security Market: Regional Insights
North America occupied the largest share of this market since the past few years. This can be attributed to stringent government regulations towards safety and security. Moreover, growing adoption of physical security to reduce the risks associated with terrorist and criminal activities is likely to favor the market.
Asia Pacific is also expected to emerge as a key revenue generating region. This can be associated with increasing government support and investment in physical security measures. Demand is expected to rise from countries such as India, Australia, Japan and China.
Physical Security Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Physical Security Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase physical security over the coming years. Some leading consumers of this market are Costco Wholesale Corporation, Tesco PLC, Carrefour SA, Berkshire Hathaway, and Allianz.
Physical Security Market Share & Competitor Analysis
Key players include Bosch Security Systems Inc., Tyco International PLC, ADT Corporation, Anixter International Inc., Cisco Systems, Inc., Genetec Inc., Honeywell International, Inc, Senstar, and Pelco.
Please note: This is not an exhaustive list of companies profiled in the report.
In January 2018, Cisco, the American multinational technology conglomerate announced acquiring Skyport, a privately-held server security startup. Through this acquisition Cisco will have access to seasoned software, intellectual property, and network expertise of Skyport so that it can accelerate priority areas across multiple portfolios.
In January 2018, Hikvision USA, Inc., the world's largest manufacturer of video surveillance products & solutions, and Eagle Eye Networks, a leading global provider of cloud-based video surveillance solutions announced a video surveillance solution: SB-507. The product combines Eagle Eye's Cloud Security Camera VMS and Hikvision IP cameras. The product also has a cyber-secure video highly resistant to being hacked, the video surveillance has restricted user permissions on a camera-by-camera basis.
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The global Physical Security Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Physical Security Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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