Physical Security Market size is set to grow at 6.7% CAGR from 2022 to 2030 | Industry Growth Drivers and Expansion Opportunities

Physical Security Market Insights

Industry Research Future (MRFR) anticipates that by 2022, the Physical Security Market would have reached a staggering valuation of USD 195.6 Billion. According to MRFR, the market can grow steadily between 2022 and 2030 at a rate of 6.7%. (Which is the review period).

In recent years, firms have become much more focused on enhanced physical security and threat detection, which is what is driving the market’s expansion. End-use sectors like banking, retail, hotel, and transportation deal with a range of security issues, including theft and damage that are difficult to control with conventional security measures. Physical security technologies are now being used more widely throughout enterprises as a result. Budgetary restrictions, however, might slow down the deployment of physical security measures in the upcoming years.

Other market growth drivers include the transition of businesses and government organizations from traditional solutions like alarm systems, door locks, and badge readers to cutting-edge ones like intrusion prevention, threat management, and breach detection.

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Physical Security Market Key Players:

Leading competitors in the market for physical security include

• Cisco Systems, Inc. (U.S.)
• Pelco (U.S.)
• Senstar Corporation (Canada)
• Genetec Inc. (Canada)
• Honeywell International Inc. (U.S.)
• Tyco International PLC (Ireland)
• Anixter International Inc. (U.S.)
• Bosch Security Systems Inc. (Germany)
• Stanley Security (U.S.)
• ADT Corporation (U.S.)

Physical Security Market Segmentation:

Physical security has been divided into different market groups based on things like kind and industry.

System and service-based physical security are the two categories. Access control protocols, biometrics systems, locks, video surveillance, physical security information management, security scanning, metal detection, and fire & life safety, among others, are all included in the system-based market segmentation. Maintenance and support, planning and advising, and system integration are among the services offered in the industry. Because of rising technology breakthroughs like UHD and declining equipment costs, the system-based video surveillance segment is expected to do well in the upcoming years.

Government, IT & telecom, education, transportation & logistics, oil, gas & energy, defence & public sector, retail, hotel, BFSI, and others are the major industry segments.

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Regional Analysis:

The physical security sector’s regional outlook includes the Asia Pacific (APAC), Europe, the Americas, and the Rest of the World (RoW).

North America is leading the worldwide market, as evidenced by the region’s widespread use of physical security measures. The region’s strong position is a result of its robust economy, tight regulatory requirements, and the significant expenditures that businesses are making in these solutions. Additionally, several public institutions and transportation networks, including seaports, airports, bus terminals, and trains, are devotedly trying to defend their infrastructure by utilising security layers, which is resulting in market expansion throughout the region.

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The MRFR study also shows that APAC has a great chance of dominating the global market. The top market growth drivers are the high demand for cutting-edge smart security systems, particularly in China and India, as well as the significant expenditures being made by the government in safe city initiatives with an emphasis on traffic monitoring and city surveillance. The increasing crime rate in the area is one of the main causes of the popularity and demand for physical security systems. India, Malaysia, Australia, and China are particularly depressing, which raises worries about security. In response to this circumstance, regional governments are seeking to encourage the use of physical

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