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

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).

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.