The global physical security market is predicted to reach USD 110.99 billion in 2024 and USD 157.87 billion by 2029, growing at a CAGR of 7.3% during the forecast period.
Among the many factors that are fuelling the physical security market, some of the key factors include the increasing number of terrorist attacks, technological advances and the deployment of wireless technology in security systems, the rising use of IP protocol-based cameras for video surveillance, and the growing adoption of the IoT devices and market with security systems based on cloud computing platforms, etc. In addition to these factors, the refocusing of traditional solutions such as alarm systems, badge readers, and door locks towards logical security, including threat management, violation detection, and higher rate intrusion prevention, are also adding to the market rate growth.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 to 2029 |
|
Base Year |
2023 |
|
Forecast Period |
2024 to 2029 |
|
CAGR |
7.3% |
|
Segments Covered |
By Component Systems, Component Services, Organisation Type, Vertical, And Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
ADT Inc. (US), Bosch Building Technologies (Germany), Cisco Systems, Inc. (US), Honeywell International Inc. (US), and Johnson Controls International plc. (US), Anixter International Inc. (US), Genetec (Canada), Secom Co., Ltd (Japan), G4S plc. (UK), Pelco by Schneider Electric (US), Zhejiang Dahua Technology Co., Ltd. (US), Kastle Systems (US), Hikvision Digital Technology Co., Ltd. (China), STANLEY Convergent Security Solutions, Inc. (US), Axis Communications (Sweden), and others. |
North America has dominated the global physical security market for quite some time, owing to factors such as the presence of global market leaders, the availability of advanced technology and updated infrastructure, increased government incentives and funding, etc. When talking about the fastest-growing markets, Europe and the Asia Pacific top the race to catch up with the North American market.
Some of the key market players operating in this industry are ADT Inc. (US), Bosch Building Technologies (Germany), Cisco Systems, Inc. (US), Honeywell International Inc. (US), and Johnson Controls International plc. (US), Anixter International Inc. (US), Genetec (Canada), Secom Co., Ltd (Japan), G4S plc. (UK), Pelco by Schneider Electric (US), Zhejiang Dahua Technology Co., Ltd. (US), Kastle Systems (US), Hikvision Digital Technology Co., Ltd. (China), STANLEY Convergent Security Solutions, Inc. (US), Axis Communications (Sweden), and others.
By Component Systems
By Component Services
By Organisation Type
By Vertical
By Region
Frequently Asked Questions
Advancements such as artificial intelligence, facial recognition, and IoT integration are revolutionizing the physical security landscape, enabling more efficient and proactive security measures.
Challenges include concerns over privacy infringement with advanced surveillance technologies, cybersecurity threats to networked security systems, and high initial investment costs.
Regulatory standards such as GDPR in Europe and NIST guidelines in the United States significantly influence the development and adoption of physical security solutions, particularly concerning data protection and privacy.
These trends offer greater flexibility, scalability, and convenience, allowing organizations to manage security operations more efficiently and adapt to dynamic security challenges on a global scale.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region