Report ID : 10325865 |
Published Date : 21 Oct 2022 |
Report Format : PDF,PPT |
Delivery Timeline :48-72 Business Hours
Global Physical Security Market Analysis – 2018-2028
Physical Security is defined as the protection of information-related assets, personnel devices, hard-drives, computers, organization’s assets, and property from physical actions that could cause damage. Physical security describes the measures to protect the assets from real-world threats and crimes. The global physical security market is anticipated to achieve a CAGR of 8.03% across the globe over the forecast period, i.e. 2020-2028. Factors such as increasing scope of IoT in enabling data protection through innovative connected networks of physical security system and the increasing spending by government bodies worldwide on installation of new physical security systems, such as video surveillance, access control & others in government offices & public facilities is further anticipated to provide growth opportunities to the global physical security market. Additionally, growing demand for the security and surveillance of the smart cities is anticipated to be one of the major driving factors for the growth of the global physical security market.
The global physical security market consists of various segments that are segmented by component, organization size, vertical and by region. The component segment is sub-divided into system and services. The system segment is further sub-divided into video surveillance system, physical access control system, perimeter intrusion detection & prevention, security scanning, imaging & metal detection, fire & life safety and others. Among these segments, the video surveillance system held a market value of around USD 27000 million in the year 2018 and is further expected to cross a value of around USD 55000 million by the end of 2028 by growing at a CAGR of around 7.6% throughout the forecast period.
Based on region, the global physical security market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific held a market value of around USD 16000 million in the year 2018 and is expected to garner a value of around USD 40000 million by the end of 2028 by registering a CAGR of around 9.5% throughout the forecast period.
Some of the affluent industry leaders in the global physical security market are Bosch Sicherheitssysteme Gmbh, Axis Communications AB, Honeywell International Inc., Cisco Systems, Inc., Johnson Controls International PLC, Secom Co., Ltd., Genetec Inc., Zhejiang Dahua Technology Co., Ltd., Securitas AB and Prosegur Compania De Seguridad, SA.
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