Physical security market

Q: Which region held the largest market share in the market in 2021?

Asia Pacific held the largest share in the market in 2021 Read more

Physical Security Market, By Components (Hardware (Intrusion detection and prevention, Access control and Others), Software (Physical Security Information Management (PSIM) and Management Analysis and Modeling Software) and Services (Video Surveillance as a Service (VSaaS), Remote Management Services, Technical Support, Public Safety Answering Point (PSAP), Security Consulting, Public Alert and Warning System and Others)), By Application (Transportation and Logistics, Government and Public Sector, Control Centers, Utilities/ Energy Markets, Chemical Facilities, Industrial, Retail, Business organizations, Hospitality and casinos and Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

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Dec 2022
CMI4180
135 Pages
Excel & Pdf
Information and Communication Technology

Summary

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. All government and business operations face new and complicated security challenges across various operations. The two primary concerns of physical security include prevention and protection serving the security interests of people, equipment, and property. The need for securing critical infrastructure combined with real-time response systems has emerged as the major concern for governments and organizations.

The global physical security market is estimated to account for US$ 817.1 Mn in terms of value by the end of 2030.

Recent Developments:

In March 2022, Ouster Inc., a LIDAR technology company and Hexagon AB, a producer and manufacturer of security systems, introduced a joint security solution, Ouster×Accur8vision, for protecting and monitoring critical infrastructures through video surveillance software.

Restraint:

Device interoperability issues related to physical security systems are expected to hamper the global physical security market growth over the forecast period
Privacy concerns against installation of surveillance cameras are expected to restrain growth of the global physical security market during the forecast period

Physical Security Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 171.1 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	19.2%	2030 Value Projection:	US$ 817.1 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Component: 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) By Application: Transportation and Logistics, Government and Public Sector, Control Centers, Utilities/ Energy Markets, Chemical Facilities, Industrial, Retail, Business organizations, Hospitality and casinos, Others.
Companies covered:	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.
Growth Drivers:	Increasing security concerns and rising budget allocation for physical security are expected to drive growth the global physical security market during the forecast period Constant investment in infrastructure is expected to propel the global physical security market growth over the forecast period
Restraints & Challenges:	Device interoperability issues related to physical security systems are expected to hamper the global physical security market growth over the forecast period Privacy concerns against installation of surveillance cameras are expected to restrain growth of the global physical security market during the forecast period

Physical Security Market - Impact of Coronavirus (Covid-19) Pandemic:

The COVID-19 pandemic has adversely affected the global Physical Security market. Physical Security is widely used in Oilfield services and pipeline management as they have the capability to detect a wide range of errors and problems that can cause malfunctions in the system. Due to the pandemic, oilfield services and pipeline management faced financial crises due to which many new projects were suspended which directly impacted the sales of the Physical Security used in Oilfield services and pipeline management. Hence, the global Physical Security market witnessed slow growth during the pandemic.

Asia Pacific held a dominant position in the global Physical Security market in 2021

Figure 1: Global Physical Security Market Share (%), By Region, 2021

Statistics:

Asia Pacific region dominated the global Physical Security market in 2021, accounting for a 35.5% share in terms of value, followed by North America, and Europe respectively.

Figure 2: Global Physical Security Market (US$ Mn) Analysis and Forecast, 2017 - 2030

The global Physical Security market was valued at US$ 171.1 Mn in 2021 and is expected to reach US$ 817.1 Mn by 2030, growing at a CAGR of 19.2% between 2022 and 2030.

Major players operating in the global physical security market are 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.

Table of Content

Table of Contents

*Browse 60 market data tables and 40 figures on "Global Physical Security Market- Global forecast to 2030”.

Segmentation

Detailed Segmentation

- Frequently Asked Questions -

What is the expected market size of the global physical security market in 2030?

The global physical security market is expected to reach US$ 817.1 million by 2030.

What is the expected compound annual growth rate (CAGR) of the market during the forecast period (2022-2030)?

The market is expected to witness a CAGR of 19.2% during the forecast period (2022-2030).

What is the primary factor contributing to the growth of the global physical security market?

Major factor driving the growth of market during the forecast period is increasing security concerns and rising budget allocation for physical security.

Based on Application, which segment held the largest market share in the DAS devices Market in 2021?

The transportation and logistics segment held the major market share in 2021 owing to the high demand for equipment used in surveillance, overseeing traffic congestions, and monitoring crowds. The rising number of incidents such as accidents and terror attacks across the globe has led to increased spending on safety and physical security.

Which region held the largest market share in the market in 2021?

Asia Pacific held the largest share in the market in 2021

Who are the key players operating in themarket?

The Market are 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.