USD 127.01 billion
Physical Security Market Size, Share, Growth Analysis, By Systems (Physical Access Control Systems, Video Surveillance Systems), By Services (System Integration, Maintenance & Support), By End User Industries, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25S2060 |
Region:
Global |
Published Date: August, 2024
Pages:
192
|Tables:
90
|Figures:
71
Physical Security Market Insights
Global Physical Security Market size was valued at USD 127.01 billion in 2022 and is poised to grow from USD 135.65 billion in 2023 to USD 229.60 billion by 2031, growing at a CAGR of 6.8% during the forecast period (2024-2031).
The purpose of physical security measures is to keep equipment and structures safe. To put it briefly, physical security grant access to those who are authorized while keeping aside undesired people. While network and cybersecurity are crucial, safeguarding the technology and data, as well as any employees or faculty members with building access, depends on preventing physical security breaches and threats. It offers defence against terrorism, theft, vandalism, fire, and natural calamities. It consists of several layers with interconnected systems, such as locks, barriers to protection, CCTV surveillance, security guards, access control protocols, and other related methods.
The global physical security market is growing due to an increase in awareness and the number of terror incidents. Furthermore, the expansion of the physical security market is positively impacted by the increase of technological advancements. But the market's expansion is hampered by privacy issues and a lack of logical and physical security integration. Conversely, during the projected period, the growing need for physical security in smart cities is anticipated to present lucrative chances for market advancement.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Video Surveillance Systems
Fastest Growth
Physical Access Systems
Growth Rate
6.8% CAGR
Global Physical Security Market ($ Bn)
Country Share by North America (%)
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Physical Security Market Segmental Analysis
Global Physical Security Market is segmented by systems, services, end user industries and region. Based on systems, the market is segmented into physical access control systems (PACS) (biometric systems, card-based systems, intrusion detection systems), video surveillance systems (analog cameras, IP cameras, video management systems (VMS)) and perimeter intrusion detection systems (PIDS) (microwave sensors, infrared sensors, fiber optic sensors). Based on services, the market is segmented into system integration, maintenance and support, design and consulting and managed services. Based on end user industries, the market is segmented into government, commercial (office buildings, retail), transportation (airports, railways), banking and finance, residential, education and healthcare. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Systems Type
As per categorization by systems type, the market is classified as physical access system, video surveillance system, perimeter intrusion & detection, physical security information management and others. Over time, video surveillance systems have been able to acquire a huge market share and continue to hold this position. Newest developments such as AI driven analytics, 4k resolution cameras and cloud-based storage for video surveillance systems have improved real time monitoring and data processing. Video monitoring is crucial to the safety of the populace. Crime prevention includes numerous regions where smart city projects come under; hence, this form of physical security is leading at a global level.
Due to the increasing need for secure access solutions, the development of biometric technology, and the growing demands of regulatory compliance, physical access systems are expected to grow at the quickest rate in the global physical security market. This increase is also driven by advancements in mobile access and integration with other security systems.
Analysis by Service Type
Facial recognition, storage in the cloud, and video analytics using AI have all been included in the video surveillance as a service packages to enhance security administration and real-time monitoring. The scalability, accessibility and integration with modern technologies of VSaaS makes it the top physical security company globally. While its importance is vital in various sectors such as smart cities and critical infrastructure.
Due to the growing need for scalable, cloud-based access solutions, biometric technology developments, and cost-effectiveness, access control as a service is expected to grow at the quickest rate. Due to its flexibility, ease of linking with handheld devices, and enhanced cyber-security characteristics, organizations searching for modern in-the-field security answers are fast in taking it up.
Global Physical Security Market By Systems Type (%)
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Physical Security Market Regional Insights
Due to its sophisticated technological infrastructure, high adoption rates of cutting-edge security systems, and significant investments in public safety, North America leads the world market for physical security. Due to the strict compliance standards and regulatory regulations implemented in this region, there is a high demand for durability security systems. To this end, North America leads thanks to great market players, perpetual advancement in AI and IoT technologies as well as heavy investment on critical infrastructure protection. In addition, there have been rising expectations for safety measures among various sectors such as government establishments; hospitals; and shopping complexes hence making Northern part of America still occupy top position globally when it comes to material safety door locks.
Due to concerns raised by security, developing infrastructures and rapid urbanization, East Asia is registering the fastest rate of development in the global physical security market. Therefore, governments and organizations are investing heavily in new forms of securing their vital assets including both infrastructure and urban centers. The advent of Smart Cities has become a lot more common phenomenon due to its coordination with IoT and AI technologies which brought about the need for sophisticated surveillance and access control systems. Besides that, reasons such as economic development, increase in money available after basic needs are met (disposable income) and heightened consciousness towards threats posed by security are the driving forces behind rising global demands for physical safety solutions. As a result, Asia Pacific is becoming a more dynamic and quickly growing market for physical security solutions.
Global Physical Security Market By Geography
- Largest
- Fastest
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Physical Security Market Dynamics
Physical Security Market Drivers
An Increase in Hostile Activity and Physical System Security Breaches
- Concerns about the safety and security of people, property, and procedures have grown as a result of an increase in terrorist attacks and rising crime rates. So, it has become very important to protect these vital infrastructures which has led to the development of comprehensive physical security systems. Technology in the field of physical security has advanced markedly in response to counteract ever-changing terrorist tactics.
Integration of Digital Technologies with AI, ML, and Analytics
- Unrealized possibilities arise when AI, ML, and analytics are combined with surveillance. Among such options is the actual-time recognition of an ongoing offense or terrorism act as well as forecasting upsurge in crime rate. Video surveillance can be made automatic and enriched by artificial intelligence (AI) and machine learning (ML) techniques advanced video analytics. By analyzing previous incidents and through predictive analytics powered by artificial intelligence, it might also be possible to anticipate potential security problems enabling supervision officers to mend system flaws beforehand.
Physical Security Market Restraints
High Incidence of False Alarms
- Currently limit false alarm rates that are hindering the growth of physical security market. This makes users doubt its effectiveness, leading to poor incident and emergency management measures. The main reasons why professionals insist on calling these false alarms include external factors, technical malfunction or human failure.
High Maintenance and Installation Expenses for SMEs
- The adoption rate of standardized incident and emergency management solutions is impacted by the high cost of deploying and maintaining physical security solutions. Small and medium-sized businesses (SMEs) face significant financial challenges due to the high costs associated with the installation and upkeep of physical security systems.
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Physical Security Market Competitive Landscape
Manufacturing locally to save operational costs is one of the main business tactics used by manufacturers in the physical security sector to serve customers and increase the market sector. The medical field has benefited greatly from the physical security market in recent years. Major players in the physical security market, such Cisco (US) and others, are substantially spending in research & development to fuel market growth.
Top Player’s Company Profiles
- Johnson Controls International plc
- Honeywell International Inc.
- Bosch Security Systems
- Schneider Electric SE
- Siemens AG
- Axis Communications AB
- Hikvision Digital Technology Co., Ltd.
- Dahua Technology Co., Ltd.
- ADT Inc.
- Allegion plc
- Stanley Black & Decker, Inc.
- Tyco International Ltd.
- Genetec Inc.
- Avigilon Corporation
- Pelco, Inc.
Physical Security Key Market Trends
- Embracing the Biometric Revolution in Modern Security Solutions: The growing demand for low-idleness data handling and stockpiling at the edge of the organization is driving significant growth and improvement in the edge data center market. The development of IoT devices, autonomous cars, and the growing need for ongoing data analysis across many businesses all fit this pattern.
- Shift Towards Integrated Solutions for Enhanced Physical Safety: The emergence of 5G organizations is one of the major market trends in the Edge Data Centre industry. 5G's deployment is pushing the need for edge processing capacity to support super-low idleness apps and handle the massive growth in data traffic. By completing capacity and putting assets closer to customers, edge data center plays a major role in helping 5G organizations.
Physical Security Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising threats and advancements in technology are rapidly evolving the global physical security market. Due to an increasing focus on protecting their employees and assets, businesses are increasingly demanding integrated security solutions such as access control and video surveillance.
As a result of progress in biometric technology, access control systems are expanding rapidly, while video surveillance systems are at the forefront of ensuring safety and preventing crimes. Looking at the market for smart city projects with investments and urbanization as key indicators, Asia Pacific is growing fastest; North America is still leading physical security in market share.
What’s Included
NA
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 127.01 billion |
| Market size value in 2031 | USD 229.60 billion |
| Growth Rate | 6.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Physical Security Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Physical Security Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Physical Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Physical Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Physical Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Physical Security Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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