At a compound annual growth rate of 6.3%, the size of the worldwide Physical Security market is projected to reach US$ 229.11 Billion in 2032.
.jpg "The Global Physical Security Services Market 2022-2032 (USD Billion)")
Factors such as growing incidences of terror attacks, growing use of IP-based cameras for surveillance, along with technological developments and utilization of wireless technology within the security systems including cloud-computing platforms and Internet of Things (IoT), are responsible for the growth of global physical market in the past few years.
Various industry verticals such as banks, retail, hospitality, and transportation, have a distinct set of security challenges, in which the traditional security systems some times prove unsuccessful to reduce the risk of resource destruction or theft. Additionally, physical security systems ensure safety and proper functioning of manufacturing industries by evading accidents within premises and loss of man hours. Technological developments and innovations in integrated sensors, videos, sensors, and access systems for the Internet of Things (IoT)-enabled devices are projected to fuel the physical security industry growth.
Physical Security Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | US$ 229.11 Billion |
| Growth Rate | CAGR of 6.3 % during 2022-2032 |
| Segment Covered | by Component Type, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Genetec Inc., Cisco Systems Inc., Axis Communications AB, Pelco, Robert Bosch GmbH, Johnson Controls, ADT LLC |
Key Segments of the Global Physical Security Market
Component Overview (USD Billion)
- Solution
- Access Control
- Exterior Security Systems
- Intrusion Detection
- Video Surveillance
- Others
- Services
- Access Control As A Service
- Remote Monitoring Services
- Security Systems Integration Services
- Video Surveillance As A Service
Application Overview (USD Billion)
- BFSI
- Government
- Hospitality
- IT & Telecom
- Residential
- Retail
- Transportation
- Utility & Energy
- Others
Regional Overview, 2018-2025 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global physical security market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global physical security market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the physical security industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on offerings, and applications. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global physical security market. The report will benefit:
- Every stakeholder involved in the physical security market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global physical security market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global physical security market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The global physical security market size is expected to reach US$ 229.11 Billion by 2032.
The North America region is estimated to hold the highest market share in the physical security market.
The physical security market is studied from 2023- 2032.
Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Genetec Inc., Cisco Systems Inc., Axis Communications AB, Pelco, Robert Bosch GmbH, Johnson Controls, ADT LLC.
Physical security comprises safeguarding hardware, software, networks, data, and personnel against physical actions and events, which might possibly cause loss or damage to an organization. The increasing adoption of developed technologies such as cloud, analytics-based safety systems, and intelligence, within the security systems shall enhance the safety landscape. Moreover, growing investments in hybrid solutions by various governments and private organizations for real-time monitoring are expected to augment the physical security industry growth in the coming future. The evolving requirement to safeguard customers, business. Assets, and employees against increasing occurrences of attacks has given rise to adoption of physical security systems significantly.
Component Segment
Based on the component segment, the market is bifurcated into two sub-segments that are solutions, and services. The solutions segment is further classified into access control, exterior security systems, intrusion detection, video surveillance, and others. Whereas the services segment is further classified into access control as a service, remote monitoring services, security systems integration services, and video surveillance as a service. The video surveillance segment is anticipated to grow at a significant CAGR over the forecast period. Physical security solutions plays an essential role in improving the current video surveillance system by assimilating digital video surveillance with IT and network systems.
Application Segment
Based on the application, the market is segmented into BFSI, retail, government, IT & telecom, transportation, utility & energy, hospitality, residential, and others. The residential segment is anticipated to possess the largest market share in 2019 owing to a high number of losses caused to resources and assets during threats and other assaults. Deploying physical security systems in the residential properties has helped residents in protecting assets from any potential threats. Safety is achieved by the incorporation comprehensive smart access control, video surveillance, and intrusion detection systems.
The global physical security industry is a wide range to North America, Asia Pacific, Europe, South America, and the Middle East & Africa. North America is considered a mature market in the physical security applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. Moreover, the factors such as strong regulatory reforms, economic growth, and growing investments by SMBs within the physical security systems have helped the region to achieve a significant market share within the industry. Various transportation systems and public facilities, including railways, airports, bus stations, and seaports, are focusing on protecting their infrastructure via security layers.
The major players of the global physical security market are ADT, Bosch Building Technologies, Cisco, Honeywell, Johnson Controls, Anixter, Genetec, SECOM, G4S, Pelco, Dahua Technology, Kastle Systems, and more. The physical security market is fragmented with the existence of well-known global and domestic players across the globe.