Physical Security Market Size to Hit USD 169.82 Billion by 2030; Deployment of Advanced Security Measures & New Surveillance Gadgets to Bolster Growth: The Brainy Insights

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Audio Comprehensions

The increasing number of robberies in residential areas, banks, ATMs and other non-commercial areas has increased the demand for physical security measures. The North American region emerged as the largest physical security market in the world, with a 42.19% market share by 2022.

Newark, Nov. 22, 2022 (GLOBE NEWSWIRE) — Brain Insights predicts that the global physical security market will grow from $110.32 billion in 2022 to $169.82 billion in the 2030. All-out war like the Russia-Ukraine. the need for strong physical security structures has been highlighted, the lack of which can lead to serious harm. Russian attacks on critical infrastructure in Ukraine have left thousands of people without water and electricity. The Chinese and Russian cyber war targeting the US elections, silicon giants such as Microsoft and Apple, is another cause for concern because it affects millions. The disruption of railway lines in India after a Chinese-suspected cyber-attack has left thousands stranded and critical infrastructure lost. These incidents are on the rise in an unpredictable world. The increase in polarization and separatist powers around the world will increase such efforts to assert party power. Therefore, the physical security market will grow in the future, due to the increase in government spending on security infrastructure.

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Key Insights for the Physical Security Market

Asia-Pacific is expected to grow rapidly during the forecast period.

The Asia Pacific market is expected to develop rapidly during the forecast period. The rapid urbanization and development of smart cities accompanied by robust security infrastructure will drive the growth of the regional market. The market is growing due to the large consumer markets in China and India, where people have more disposable habits and are ready to spend on physical security measures for protection. The demand for physical security measures has increased due to robberies at residences, banks, ATMs and other retail locations. The growth of the physical security market is due to the increase in the threat of terrorist attacks against elite nations. The many breaches of security infrastructure have led to revisions in security protocols, resulting in improved technology and new products.

The video surveillance segment will increase the physical security market during the forecast period.

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The type segment is divided into video surveillance, installation and detection, security systems installation, access and access control, remote monitoring, security alarm system, fire and light, etc. . The video surveillance segment dominates the market with a revenue share of 40% by 2022.

The government sector will dominate the global physical security market by 2022.

The industry type is segmented into retail, residential, BFSI, transport, telecommunications and telecommunications, government, commercial, industrial, energy and utilities, hospitality, etc. The government sector is the market leader with a market share of around 36% by 2022.

The systems segment will dominate the global physical security market by 2022.

The category is divided into systems and services. The system segment dominates the market with a market share of around 59% by 2022.

Major enterprise segments will dominate the global physical security market in 2022.

Organization size is divided into large enterprises and small and medium enterprises. Large enterprise segments dominate the market with a market share of around 55% by 2022.

Progress in the market

November 2022 – To integrate Eagle Eye Clouds’ Eagle Eye Cloud video management system (VMS) with Netwatch’s video surveillance service, Netwatch, a provider of video surveillance solutions, has partnered with Eagle Eye Networks. The combination of technology enables artificial intelligence (AI) technology such as AI-filtered alerts, which can reduce false positive rates and improve the overall effectiveness of monitoring for users on platform to be used with cloud-based video and audio monitoring.

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Scope of the Report:

Measurement Report

Information

Available market size for years

2019–2030

Base number is considered

2021

Forecast time

2022–2030

Market size in 2022

$110.32 billion

Market value in 2030

$169.82 billion

CAGR

5.54% From 2022 to 2030

Sections are covered

Type, Industry Vertical, Sector, Organization Size

Geography is covered

North America, Asia Pacific, Europe, Middle East and Africa, and Latin America

Companies are covered

ADT Corporation, BAE Systems Plc, Cisco System Inc., Genetec Inc., Honeywell International Inc., Johnson Controls, PELCO Corporation, Robert Bosch GmbH, Hangzhou Hikvision Digital Technology Co. Ltd., Stanley Government Security Solutions Inc.

Market Inspiration

Driver: increasing theft

The Covid-19 pandemic saw an increase in crime rates, including petty theft. ATM robberies are also rampant, as reported on news channels. Due to the increase in apartment burglaries or bank robberies, owners have to install video surveillance and alarms on their buildings to protect the property. The increase in thefts has prompted governments to issue guidelines outlining measures that residents or owners can take to protect their property. Due to theft of public property CCTVs have been installed on roads, parks and other public areas. Therefore, increasing theft will drive the physical security market.

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Cons: installation is difficult

Security measures are incorporated in all areas and businesses that combine physical and material components. Resource components are hardware and systems. Physical units are employees or managers. For a security system to work well, it must be properly installed, accurate and comprehensive. The skills required to do these jobs are a combination of technical and other skills, which are rare. Therefore, lack of qualified personnel leads to difficult integration of security components, thus hindering the growth of the market.

Opportunities: technological advances and new products

With the increasing automation and digitization of the economy, physical security measures must be updated as security risks shift from physical theft and attacks to digital ones. In addition, improved surveillance, monitoring, and defense systems and equipment are enabled by technology. Asset safety and security will be improved through the use of artificial intelligence and current physical security measures. It also reduces long-term expenses and the need for staff to manage or manage them. For example, IoT developments in access control systems, surveillance cameras, and other security devices provide better and more comprehensive control over security. As a result, the need for security measures will increase as threats evolve, creating an attractive opportunity for future market participants.

Challenge: the debate about threats to privacy from physical security measures

Due to size or financial considerations, it is sometimes impossible or impossible for most organizations to maintain physical security. They have to hire an external service provider to manage their security. If a third party has access to their security, the confidential and sensitive nature of their data or equipment could lead to a security breach. Even with many safeguards in place, privacy breaches can still occur. As a result, market expansion is constrained by privacy issues.

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Some of the major players operating in the physical security market are:

• ADT Corporation
• BAE Systems Plc
• Cisco Systems Inc.
• Genetec Inc.
• Honeywell International Inc.
• Mana Johnson
• PELCO Corporation
• Robert Bosch GmbH
• Hangzhou Hikvision Digital Technology Co. Ltd.
• Stanley Government Security Solutions Inc.

The main areas covered in the market are:

By Type

• Visual inspection
• Access and Search
• Security System Integration
• Access Control and Access
• Remote Monitoring
• Security System
• Fire and Light Safety
• Other

By Vertical Industries

• Marketing
• Accommodation
• BFSI
• Transportation
• IT & Telecom
• Government
• Marketing
• Industry
• Energy & Equipment
• Blessings
• Other

By Category

• System
• Services
By Operating Size
• Large Enterprises
• Small and Medium Enterprises

By Region

• North America (US, Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed by value (USD billion). All categories have been analyzed globally, regionally and nationally. The study includes analysis of more than 30 countries for each category. The report analyzes the driving factors, opportunities, restraints, and challenges for gaining insight into the market. The study includes the competitor’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitive position grid analysis, distribution, and marketing channel analysis.

For Group Ideas:

Brainy Insights is a market research company, which aims to provide actionable insights through data analysis to companies to improve their business. A robust forecasting and estimation model to meet clients’ goals for high-quality output in a short period of time. We provide both customized information (customer support) and group reports. We have a diverse portfolio of teams across sectors and sub-sectors across regions. Our solutions are tailored to meet the needs of customers whether they are looking to expand or planning to launch a new product in the global market.

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