Physical Security Market trends research and projections for 2017-2024

Physical Security Market size has witnessed a considerable growth owing to the growing need for stringent regulatory and compliance requirements, concern for privacy and data security issues, and proliferation of smart devices across enterprises.

Physical Security Market size is anticipated to witness a high growth over the forecast timeline owing to the growing security concerns and rising terror activities across the globe. Technological advancements, such as the adoption of access control systems along with the availability of cost-efficient systems, are expected to increase the demand for physical security market in the coming years.

The physical security market is expected to witness technological innovations such as the transition from analog to built-in IP network system. Such technological advancements comprise ubiquitous sensors, video analytics & displays, power access systems, and smart devices with built-in distributed public-address environment. Increasing safety issues of personal network and hardware infrastructure will further have a positive impact on the physical security market demand.

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The growing implementation of advanced technologies, such as cloud, intelligence, and analytics-based safety systems, is expected to improve the safety landscape. In addition, increasing investments in hybrid solutions for real-time monitoring are anticipated to boost the physical security market growth over the forecast time frame. The emerging necessity to safeguard business assets, customers, and employees against growing frequencies of attack has led to a significant market growth.

The need for sophisticated devices for the implementation of cyber security is also increasing the adoption rate. Rising demand for IoT in the integration of two or more technologies the implementation of cloud-based data storage, and the use of big data analytics are contributing to the physical security market growth. Furthermore, the use of identity management & biometrics, Video Surveillance as a Service (VSaaS), and Access Control as a Service (ACaaS) are enhancing the overall demand. The rising need to enhance efficiencies in business operations by adopting tools, such as surveillance tools, is escalating the industry size.

An increase in the growth of smart securities, digital systems, and smart cities and inflexible rules & regulations imposed by domestic governments & international bodies will provide tremendous growth opportunities for the physical security market. Trends, such as Ultra-high Definition (UHD), Video Surveillance, IP Networking, and Power over Ethernet (PoE) for security and surveillance, are supporting the increased adoption.

Numerous factors, such as lack of linkage between solutions, lack of information & knowledge regarding implementation, and limited infrastructure boundaries, are restraining physical security market growth. Furthermore, the industry is also undergoing challenges such as technological discrepancies & innovations and assimilation of physical securities with logical securities.

Based on application, the physical security market can be segmented into logistics, retail, transportation, utilities, government, public, chemical, telecom & IT, defense & military, and banking sectors. The transportation & logistics sector is predicted to be the fastest growing segment over the forecast timeline owing to the increasing safety threats and technological advancements such as cloud-based data storage & data analytics.

The growing threat of cyber-attacks and the need for safeguarding the resources in the cyber security area are predicted to increase the demand for physical securities in government segments. With the growing number of retail stores in various countries, the need for physical securities, such as IP surveillance, video analytics, and access control systems, is boosting the physical security market growth. Based on software, the market can be categorized into management analysis & modeling software and Physical Security Information Management (PSIM).

On the basis of service type, the physical security market can be segmented into Public Safety Answering Point (PSAP), technical support, Video Surveillance as a Service (VSaaS), public alert & warning system, and remote management services. The VSaaS market is expected to grow at the highest rate owing to the increased government spending for safety monitoring at airports, railway stations, and streets.

The physical security market based on the component can be segmented into hardware, services, and software. The hardware segment is expected to grow at the highest rate and can be further divided into card-based access control systems, biometrics, intrusion detection & prevention systems, and video surveillance devices such as CCTVs. Growing investments in these devices are expected to fuel the market growth.

Asia Pacific is predicted to account for the highest market share in the physical security market owing to the growing deployment of security devices by the government in the countries, such as China and India, in public safety and transportation sectors. Furthermore, the growing IT industry and rapid industrialization in these countries will have a positive impact on the physical security market growth in this region.

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North America is predicted to grow at a significant CAGR over the forecast time frame owing to the growing demand for the use of access control systems in various verticals such as retail, government, and banking sectors. In addition, support and maintenance activities for the current systems are predicted to drive the physical security market growth in this region.

The industry players participating in the physical security market include EMC Corporation, McAfee, Inc., Genetec, Inc. NICE Systems Ltd., Cisco Systems, Inc., Honeywell Security Group, Morpho S.A., Pelco, Inc., Axis Communications, Bosch Security Systems, IBM Corporation, Siemens AG, and Tyco International Ltd.

The industry is concentrated in nature due to the presence of various global companies that have a large regional presence. IBM Corporation provides solutions for video surveillance such as logical security products and DVS partner products. It also provides video analytics tools such as smart vision suite and command control center solution. Cisco offers solutions, such as incident response, access control, and video surveillance, to protect businesses, employees, and customers from threats such as safety & privacy issues.

This latest Physical Security Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Physical Security from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.

Reasons to Buy This Report

  • Global Physical Security Market size & forecast by product & application.
  • Growth drivers, pitfalls & industry challenges.
  • Key Physical Security Market growth opportunities & emerging business models.
  • Competitive benchmarking with market share analysis and company profiles.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Security Solutions Market statistics and research analysis released in latest report

Statistics of Security Solutions Market covering market size, industry share numbers, regional outlook, competitive landscape with data about leading companies is now available in the latest report by Global Market Insights, Inc.

Security Solutions Market size is anticipated to witness growth during the forecast period owing to the growing necessity to protect property and individuals from increasing threats. Increasing consumer awareness regarding prevailing security concerns is expected to drive security solutions market growth for the next eight years.

The design of sophisticated and efficient systems, in addition to user-friendly installation features, enabled by wireless technology is anticipated to boost the market growth. Furthermore, adoption of IoT-based systems and remote monitoring using mobile devices are expected to provide impetus to security solutions market growth. The high cost of maintenance and large initial investments are expected to restrain the market growth. Lack of awareness regarding technological advancements is expected to challenge security solutions market growth. Furthermore, the low adoption rate is expected to challenge manufacturers.

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The security solutions market is segmented on the basis of the type of solutions and the end-use industry. The system, by type, is classified into products and services. The products include fire protection, thermal cameras, video surveillance, wireless systems, access control, intruder alarms, and entrance control. The services include security systems integration, access control services, remote monitoring, video surveillance, and fire protection services.

Fire protection systems segment is anticipated to lead the security solutions market during the forecast time frame. Some of the major systems included under this type are sprinklers, fire alarms, and extinguishers. Increasing use of fire protection systems in residential and industrial buildings is expected to drive the market. Roving patrol systems are a preferred option to provide security to vast stretches of land such as huge housing societies or large manufacturing companies. These systems are economical and provide visible presence, GPRS tracking, quick response, and active patrolling.

On the basis of end-use industry, the security solutions market is segmented into retail, residential, commercial, transportation, BFSI, education, government, industrial, healthcare, and energy & utilities. The commercial end-use segment is expected to hold the largest market share, owing to increasing instances of theft of physical and data/information property and the growing need to protect people & property. The corporate organizations are increasingly investing in these systems to protect employees and sensitive data. For instance, biometric or access control systems are used in server rooms of large corporations that deal with critical & sensitive data.

The wireless systems are projected to grow at a high CAGR. These types of systems can improve interactive monitoring services. These can be remotely and easily operated. Residential premises are being increasingly equipped with technological platforms to enable the occupants to remotely access electronic devices using tablets, smartphone, and laptops. These include intruder alarm systems, medical alert systems, intercom systems, access control & management systems, video surveillance systems, and integrated systems. Growing use of these systems for residential security is projected to propel security solutions market growth.

North America is expected to dominate the global security solutions market. Most of the residential and commercial buildings in this region are equipped with fire protection systems, owing to stringent fire and safety protection norms. Several manufacturers in this region offer different systems such as flame detectors, fire detectors, sprinklers, heat detectors, fire alarms, extinguishers, sirens, fire analysis software, and control panels & interfaces.

Asia Pacific is anticipated to be the region of the fastest growth owing to high infrastructure growth in railways, airports, and highways. Strong growth in banking and financial services is expected to provide ample growth opportunities for security solutions market for the next eight years.

Some of the key security solutions market participants include ASSA ABLOY AB, Zhejiang Dahua Technology Co., Ltd., Bosch Security Systems, Axis Communications AB, Honeywell International, Inc., Stanley Security Solutions, Tyco International Ltd., SECOM Co., Ltd., UTC Fire & Security, Hikvision Digital Technology Co., Ltd., ADT Corp., Alarm.com, Nortek Security & Control LLC., Godrej & Boyce Manufacturing Company Ltd., Ingersoll Rand Solutions, Allegion, and Control4.

The security solutions market ecosystem comprises manufacturers & suppliers, R&D firms, software solutions providers, wearable product manufacturers, and end users. The manufacturers are increasingly integrating and consolidating the products to provide

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multiple functionalities. For instance, the property management system provides security to multiple nodes in the same location. These players are adopting different strategies to achieve a strong position and penetration in the security solutions market. In the global security solutions market, the number of players is growing, making it important for manufacturers in gaining a competitive advantage over others. The strategies adopted include mergers & acquisitions and new product developments. For instance, Securitas developed a strategy to develop solutions specific to customers. This helps in retaining the existing customers for a long period through contract extensions. In November 2015, Stanley Security Solutions announced a partnership with iView Now, a cloud-based video verification service. This partnership strengthened Stanley’s position as a video alarm monitoring services provider.

Companies in the security solutions market are continuously investing in technological innovations to gain a competitive edge. For instance, Bosch launched a new video-based fire detection system. AVIOTEC IP Starlight 8000 is a unique and scientifically tested device that spots fire and predicts behavior to speed up the reaction time and reduce occurrences of false alarm.

This latest Security Solutions Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Security Solutions from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.

Reasons to Buy This Report

  • Global Security Solutions Market size & forecast by product & application.
  • Growth drivers, pitfalls & industry challenges.
  • Key Security Solutions Market growth opportunities & emerging business models.
  • Competitive benchmarking with market share analysis and company profiles.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

Phone: 1-302-846-7766

Toll Free: 1-888-689-0688

Email: sales@gminsights.com

Web: https://www.gminsights.com

Blog: https://www.gminsights.com/blogs

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