Global Physical Security Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Physical Security Market Overview

"The Physical Security Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

This report is based on the synthesis, analysis, and interpretation of various sources of information gathered regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact to make informed forecasts about the scenarios in future.

Physical security protects hardware, software, data, and networks against physical events and actions that could cause damage or loss to an organization or institution. It protects organizations from fire, vandalism, and theft for which it uses multiple layers of interdependent systems, which includes security guards, protective barriers, CCTV surveillance, locks, access control protocols, etc.

Increasing focus towards physical security owing to factors such as increasing adoption of Internet of Things (IoT) and cloud-based data storages, technological advancements in video surveillance, and rising spending on security of critical infrastructure by various organizations are major factors expected to drive growth of the global market over the forecast period.

In addition, increasing preference for logical security, which includes threat management, breach detection, and intrusion prevention, is another factor expected to further fuel the growth of the target market. Furthermore, increasing infrastructural development through smart cities provides higher safety to citizens and monitor activities is another factor expected to boost the growth of this market shortly. Moreover, growing technological advancements such as the adoption of access control systems and the availability of cost-effective systems are other factors expected to propel the growth of the target market over the forecast period.

However, lack of physical & logical security integration and privacy concerns are the major factors expected to restrain global market growth over the forecast period.

An ongoing trend in the target market is the increasing adoption of physical safety to reduce crime or breaches through theft and fire; this trend is expected to continue over the forecast period.

Technological advancements and innovative product development for security are expected to create potential revenue opportunities for players operating in the target market over the forecast period.

The market in North America is expected to dominate the target market in terms of revenue over the forecast period, owing to the increasing need for security against terrorist activities, and technological advancements in security systems in various countries in this region. The market in the Asia Pacific is expected to register a significant share in revenue over the forecast period, owing to increasing government initiatives towards safety and rising investments by SMEs and large enterprises in security solutions in various countries in this region.

Global physical security market segmentation:

Segmentation by type:

• Systems
  • Access Control
  • Video surveillance
  • Physical Security Information Management
  • Perimeter Intrusion Detection & Prevention
  • Security Scanning, Imaging & Metal Detection
  • Fire & Life Safety
• Services
  • System Integration
  • Maintenance & Support
  • Designing & Consulting

Segmentation by industrial vertical:

• Government, Defense & Public Sector
• Transportation & Logistics
• Telecom & IT
• Banking, Financial Services, and Insurance (BFSI)
• Education
• Retail
• Oil, Gas & Energy
• Hospitality & Residential
• Others (Healthcare, Chemical, Manufacturing, and Utilities)

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa