According to Markntel Advisors Report, Physical Security Market is expected to grow at a significant growth rate, and the analysis period is 2025-2030, considering the base year as 2024.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
The term "physical security" describes the measures taken to keep people, things, and tangible assets safe from harm caused by natural catastrophes, theft, vandalism, and illegal entry. It combines technological advancements, security gear, and protocols intended to reduce or eliminate physical hazards. A comprehensive security plan must include physical security, particularly in locations that house sensitive data, expensive equipment, or vital infrastructure.
Global Physical Security Market Research Report & Summary:
The Global Physical Security Market size was valued at around USD 112.2 billion in 2023 and is projected to reach around USD 145.3 billion by 2030. Along with this, the market is anticipated to grow at a CAGR of around 7.1% during the forecast period, i.e., 2025-2030.
Time Period Captured in the Report:
- Historical Years: 2020-2023
- Base Years: 2024
- Forecast Years: 2025-2030
Who are the Key Players Operating in the Physical Security Market?
The top companies of the Physical Security Market ruling the industry are:
Honeywell International Inc., Johnson Controls, Cisco Systems Inc., Bosch Building Technologies, TELUS, Axis Communications AB, Genetec Inc., ADT LLC, Siemens, Hangzhou Hikvision Digital Technology Co., Ltd., Dahua Technology Co., Ltd., Pelco, Inc., SECOM Plc, HID Global Corporation, WESCO International and others
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Physical Security Industry Recent Development:
September 2024: The world leader in smart, healthy, and sustainable building solutions, Johnson Controls, announced the addition of artificial intelligence (AI) integrations to its access control and video surveillance (ACVS) products. Organizations may develop environments that serve mission-critical business objectives beyond security by using intelligent solutions that leverage AI-powered technology and data.
What is Included in Physical Security Market Segmentation?
The Physical Security Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
-By Component
-Hardware- Market Size & Forecast 2020-2030, USD Million
-Cameras- Market Size & Forecast 2020-2030, USD Million
-Biometrics & RFID Devices- Market Size & Forecast 2020-2030, USD Million
-Sensors- Market Size & Forecast 2020-2030, USD Million
-Smoke Detectors- Market Size & Forecast 2020-2030, USD Million
-Alarms- Market Size & Forecast 2020-2030, USD Million
-Others- Market Size & Forecast 2020-2030, USD Million
-Software- Market Size & Forecast 2020-2030, USD Million
-Video Management Software (VMS)- Market Size & Forecast 2020-2030, USD Million
-Physical Security Information Management (PSIM)- Market Size & Forecast 2020-2030, USD Million
-Access Control Management Software- Market Size & Forecast 2020-2030, USD Million
-Services- Market Size & Forecast 2020-2030, USD Million
-Professional Services- Market Size & Forecast 2020-2030, USD Million
-Maintenance and Support- Market Size & Forecast 2020-2030, USD Million
-Consulting Services- Market Size & Forecast 2020-2030, USD Million
-Training and Education- Market Size & Forecast 2020-2030, USD Million
-Others- Market Size & Forecast 2020-2030, USD Million
-Managed Services- Market Size & Forecast 2020-2030, USD Million
-Remote Monitoring Services- Market Size & Forecast 2020-2030, USD Million
-Security System Integration- Market Size & Forecast 2020-2030, USD Million
-Others- Market Size & Forecast 2020-2030, USD Million
-By System Type
-Physical Access Control System (PACS)- Market Size & Forecast 2020-2030, USD Million
-Video Surveillance System- Market Size & Forecast 2020-2030, USD Million
-Perimeter Intrusion Detection and Prevention- Market Size & Forecast 2020-2030, USD Million
-Physical Security Information Management (PSIM)- Market Size & Forecast 2020-2030, USD Million
-Physical Identity & Access Management (PIAM)- Market Size & Forecast 2020-2030, USD Million
-Fire and Life Safety- Market Size & Forecast 2020-2030, USD Million
-Others- Market Size & Forecast 2020-2030, USD Million
-By Enterprise Size
-SMEs- Market Size & Forecast 2020-2030, USD Million
-Large Enterprises- Market Size & Forecast 2020-2030, USD Million
Explore the Complete Physical Security Market Analysis Report – https://www.marknteladvisors.com/research-library/physical-security-market.html
-By End User
-BFSI- Market Size & Forecast 2020-2030, USD Million
-Healthcare- Market Size & Forecast 2020-2030, USD Million
-Government- Market Size & Forecast 2020-2030, USD Million
-Retail & eCommerce- Market Size & Forecast 2020-2030, USD Million
-Transportation & Logistics- Market Size & Forecast 2020-2030, USD Million
-Hospitality- Market Size & Forecast 2020-2030, USD Million
-Residential- Market Size & Forecast 2020-2030, USD Million
-Education- Market Size & Forecast 2020-2030, USD Million
-IT & ITeS- Market Size & Forecast 2020-2030, USD Million
-Others- Market Size & Forecast 2020-2030, USD Million
-By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Market Dynamics -Global Physical Security Market:
Increasing Security Concerns & Technological Advancements – Ongoing crime, acts of terror, and concerns regarding safety at the workplace are recognized as a necessity for having better means of safeguarding organizations. The development of technology such as Artificial intelligence, the Internet of Things, and cloud-based solutions. The increasing utilization of smart structures and biometric authentication systems in diverse sectors is also boosting market growth.
For instance;
In January 2024, Ilustra Standard Gen3 is the latest smart security line that was recently unveiled to the market by Johnson Controls, a US-based global player offering smart security solutions. This line was developed and built in India where the company attained more than 75% indigenization as espoused by the Make in India policy.
Also, the demand for conforming to the security standards and protecting the physical assets in the upper-med priority areas of concern including government services, health care facilities, and finance has quickly grown the need for total security solutions. Due to the integration with newer regions such as Asia-Pacific and the Middle East, the physical security market can witness healthy growth in the upcoming years.
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