Global Physical Security Market

Physical Security Market Size, Share, Growth Analysis, By Systems Type(Physical Access System, Video Surveillance System, Perimeter Intrusion & Detection, Physical Security Information Management and Others), By Service Type(Access Control as a Service, Video Surveillance as a Service, Remote Monitoring Services, Security Systems Integration Services and Others), By Component(System and Services), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25S2057 | Region: Global | Published Date: August, 2024
Pages: 192 | Tables: 90 | Figures: 71

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Global Physical Security Market size was valued at USD 105.45 Billion in 2022 poised to grow from USD 110.20 Billion in 2023 to USD 156.72 Billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

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. 'Johnson Controls (Ireland)', 'Bosch Building Technology (Germany)', 'Honeywell (US)', 'ADT (US)', 'Cisco (US)', 'Telus (Canada)', 'Wesco (US)', 'Genetec (Canada)', 'HID Global (US)', 'Pelco (US)', 'Hikvision (China)', 'Gallagher (New Zealand)', 'Secom (Japan)', 'Allied Universal (US)', 'Zhejiang Dahua Technology (China)'

An Increase in Hostile Activity and Physical System Security Breaches

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.

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.

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Global Physical Security Market

Report ID: SQMIG25S2057

$5,300
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