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 drives the demand for physical security market
The global physical security market size is anticipated to reach at USD 68 billion by 2025. A growth in digital systems, smart cities, and inflexible rules and regulations enforced by international bodies and domestic governments is likely to offer lucrative prospects to the growth of physical security industry in the coming years. Trends such as video surveillance, ultra-high definition (UHD), power over Ethernet (PoE), and IP networking, for surveillance and security, are facilitating enhanced adoption of physical security systems.
Technological advancements and innovations in integrated sensors, access systems, and videos for the Internet of Things (IoT)-enabled devices are projected to augment the physical security industry growth. Moreover, changing focus from conventional solutions such as alarm systems, door locks, and badge readers, to advanced physical security systems which include intrusion prevention, threat management, and breach detection, would support the deployment of these systems in various organizations and government agencies.
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.
The global physical security market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
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.
Segment Overview of Global Physical Security Market
Component Overview, 2018-2025 (USD Billion)
- Access Control
- Exterior Security Systems
- Intrusion Detection
- Video Surveillance
- Access Control As A Service
- Remote Monitoring Services
- Security Systems Integration Services
- Video Surveillance As A Service
Application Overview, 2018-2025 (USD Billion)
- IT & Telecom
- Utility & Energy
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America