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

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.