Physical security refers to protection of hardware, software, networks, and data from physical events and actions that could pose severe loss or damage to an institution, agency, or enterprise. This includes protection from natural disasters, fire, flood, theft, vandalism, burglary, and terrorism.
Physical security includes hardware components like CCTV surveillance cameras, video surveillance storage systems, access control systems, intrusion detection systems and biometric systems. These components are used to monitor, detect and deter unauthorized physical access to sensitive areas or assets in order to protect people, information and property from damage, loss or attack.
The global physical security market is estimated to account for US$ 817.1 Mn in terms of value by the end of 2030.
Market Dynamics:
The physical security market is expected to witness significant growth over the forecast period owing to increasing threat of terrorism and crime activities around the world. According to the Global Terrorism Index report 2019, terrorism is spreading to new conflicts and countries, with the largest increases in intensifying conflicts in Afghanistan, Syria and Yemen.
Additionally, the rising crime rates in urban and suburban areas due to increasing population has surged the demand for physical security systems like CCTV cameras, access control equipment and perimeter intrusion detection solutions. Furthermore, growing penetration of internet of things (IoT)-enabled security systems and artificial intelligence (AI)-driven video analytics solutions is also fueling the market growth.
Major Driver 1: Growing Concerns Regarding Public Safety and Security Due to Rising Crime Rates
One of the major drivers fueling growth in the physical security market is the growing concerns regarding public safety and security due to rising crime rates across both developed and developing regions. Various reports have highlighted increasing incidents of burglary, theft, vandalism, terrorism and other criminal activities which have heightened safety risks for both individuals and organizations.
This has prompted higher investments into advanced security systems, monitoring solutions and integrated services that can help detect threats early and prevent unlawful intrusions and damage. The physical security industry continues to innovate and introduce robust product and technology upgrades to address evolving security challenges and maintain high-security standards.
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Major Driver 2: Increasing Digital Transformation of Security Solutions Driving Adoption of Intelligent Systems
Another key growth driver is the increasing digital transformation of physical security solutions which is driving higher adoption of intelligent video surveillance systems, access control solutions and other smart security technologies. Integration of IoT, AI and analytics capabilities into security infrastructure is allowing organizations to gain real-time situational awareness, predictive insights and remote monitoring abilities.
This is helping boost security effectiveness as well as optimize operations and manpower. Advanced video analytics, biometrics, cyber security integration and mobile interface are some features that physical security providers are leveraging to develop smarter and more automated security portfolios catering to rising demands from end-users.
Key Company Profiles:
Axis Communications AB, VidSys Inc., Bosch Security Systems Inc., EMC Corporation, Morpho SA, Tyco International Ltd, HikVision Digital Technology Co., Ltd., Assa AB, Genetec Inc., Honeywell Security Group, Cisco Systems Inc., and Pelco Inc.
Market segmentation:
- Global Physical Security Market, By Components:
- Hardware
- Intrusion detection and prevention
- Access control
- Others
- Software
- Physical Security Information Management (PSIM)
- Management Analysis and Modeling Software
- Services
- Video Surveillance as a Service (VSaaS)
- Remote Management Services
- Technical Support
- Public Safety Answering Point (PSAP)
- Security Consulting
- Public Alert and Warning System
- Others
- Hardware
- Global Physical Security Market, By Application:
- Transportation and Logistics
- Government and Public Sector
- Control Centers
- Utilities/ Energy Markets
- Chemical Facilities
- Industrial
- Retail
- Business organizations
- Hospitality and casinos
- Others
Key Region/Countries are Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Major Restrain: High Initial Investment and Infrastructure Requirements Hindering Widespread Adoption
One of the major challenges restraining broader acceptance of advanced physical security technologies is the requirement of high initial investments to procure equipment, set up infrastructure and integrate different system components. High deployment and maintenance costs associated make it difficult for budget-constrained small and medium enterprises to invest in robust security systems.
Additionally, lack of trained security professionals and technical expertise in many regions poses difficulties during complex installation and management of intelligent solutions. However, increasing availability of affordable IP-based solutions, as-a-service business models and third party maintenance contracts are helping address these cost barriers to some extent over time.
Major Opportunity: Growing Focus on Smart Cities and Safe Public Spaces Driving Adoption
A key opportunity available for physical security providers is the growing focus of both public and private organizations on developing smart and safe cities through advanced security infrastructure. Urbanization and digitization trends are prompting city authorities across the world to heavily invest in installing networked video surveillance systems, access control, perimeter protection and other integrated solutions to monitor public utilities, transportation hubs, commercial areas and residential locales on a real-time basis.
This is creating a sizable demand for physical security upgrades and managed services tailored for metropolises. Leading security companies are actively engaging with smart city initiatives to fortify public safety through their innovations in IoT, analytics and cloud-based command center technologies.
Major Trend: Increasing Convergence of Physical and Logical Security Solutions
A notable trend gaining momentum in the physical security domain is the increasing convergence between physical access control and monitoring systems with IT network and cyber security infrastructure. With more critical security functions becoming software-defined and network-connected, the attack surface has expanded considerably.
Therefore, organizations are looking to adopt unified security platforms that provide comprehensive visibility and protection across on-premise and remote assets as well as personnel access points. Leading vendors are integrating capabilities like distributed denial of service protection, firewall management, user behavior analytics and identity management into their video surveillance and access control offerings to deliver more holistic security suites addressing modern hybrid infrastructure needs.
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Some of the Major Points of TOC cover:
Chapter 1: Techniques & Scope
1.1Definition and forecast parameters
1.2Methodology and forecast parameters
1.3 Information Sources
Chapter 2: Latest Trends Summary
2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends
Chapter 3: Industry Insights
3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape
Chapter 4: Physical Security Market , By Region
Chapter 5: Company Profiles
5.1 Overview of the Company
5.2 Economic components
5.3 Product Overview
5.4 Analysis of Strengths and Weaknesses
5.5 Methodical Outlook
Chapter 6: Assumptions and Acronyms
Chapter 7: Research Methodology
Chapter 8: Contact (Continue . . .)
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