Physical Security Market: Global Industry Overview (2024-2030) by Component, Organization Size, Vertical and, Region

  • Physical Security Market size was valued at US$ 123.02 Billion in 2023 and the total Physical Security revenue is expected to grow at 6.7% through 2024 to 2030, reaching nearly US$ 193.70 Billion.

  • Format : PDF | Report ID : SMR_304

Physical Security Market Overview:

Physical security refers to safeguards in place to prevent illegal access to facilities, systems, and assets, as well as to protect workers and goods from danger e.g. espionage. Multiple layers of interdependent systems, such as Closed-circuit television, security officers, security measures, locks, authentication protocols, boundary intrusion detection, countermeasure systems, fire prevention, and other systems intended to protect individuals and property, are used to provide physical security. Physical Security Market report is come up with segment analysis on the basis of component, organization size, vertical and region.

 

Limiting and controlling who has access to places, facilities, and materials are critical to enhancing physical security measures. Access control is the deliberate limitation of accessibility to a location or other resource in the disciplines of physical security and data security, whereas access management defines the process. ID badges, key fobs, and security personnel are common examples of safety barriers. However, the technique, strategy, and cost of overcoming difficulties in ensuring physical security might all be very different.

 

An innovative strategy is required for more complex access restrictions. Physical validation technologies such as Identity card readers and near-field communication ID cards can be used by security teams to verify the identities of people entering and departing various locations. Some European businesses have lately experimented with implanting near-field-communication microchips beneath their employees' skin, making it exceedingly impossible to falsify or duplicate their credentials. Given the level of severe discomfort and bodily worry, invasive gadgets like these are less popular with labor unions.

 

 Physical Security Market

 

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Physical Security Market Dynamics:

  • The rising occurrences of violent crimes and safety breaches are the sinister drivers of the physical security market.

 

The increasing crime levels and domestic terrorism have raised worries about the protection and wellbeing of assets, individuals, and systems. These rising attacks have resulted in the loss of multiple people's lives and significant infrastructure destruction, emphasizing the necessity for physical security measures. Terrorist activity has been on the rise across the world, as per the U.S. State Department.

 

  • Higher initial installation costs of security systems are one of the major restraints of the market.

 

Because of the implementation of high-quality equipment, the original investment and operating costs of utilizing physical security systems are considerable. Due to financial restrictions, Small and Medium-sized enterprises are hesitant to adopt modern technology and prefer to stick with old security software, which hamplers the physical security market growth. Furthermore, corporations emphasize the security of just important servers and pay little attention to dormant data in the database. As a result, a lack of proper money remains a major worry for physical security experts in carrying out their IT security activities efficiently.

 

  • The threat to individual privacy is the key challenge in the physical security market.

 

Surveillance systems in locations e.g. roads, parking spaces, parks, forms of transportation, retail establishments, financial firms, and workplaces are frequently considered as an infringement of secrecy and are criticized by many civil rights organizations and activists. Concerns have been raised about who views the video and how it may be used or exploited, as consumers want their private details to be utilized exclusively for legal and defined purposes. Governments and private-sector organizations should issue guidelines to lessen the effects of surveillance systems on user privacy. This is considerable challenge in the growth physical security market.

 

Physical Security Market Segment Analysis:

By Organization Size, the SMEs held about 47.5% share of the physical security market in 2023. SME segment is expected to witness the highest CAGR of 12.3% in the aforementioned forecast period.

 

When it concerns the deployment of physical security technologies, Small and Medium-sized enterprises frequently face resource restrictions, particularly monetary resources and technical knowledge. To stay in line with legal requirements, SMEs are increasingly turning to physical security services and infrastructure. The time-consuming administrative and conventional technique of validating consumer IDs is inefficient.

 

Physical Security Market is boosting with high growth rate as it is straightforward, transparent, reduced cost, seamless, and safe option for SMEs looking to fulfill their expanding demands. Government agencies are also taking steps to encourage SMEs in their various nations to implement physical security measures. Due to lack of resources, IT staff shortages, and budget restrictions, SMEs are more susceptible to security fraud and are looking forward to implementing physical security software to save cost, time, resources, and commodities.

 

Dangerous cybercriminals and Persistent threat organizations are widely exploiting the COVID-19 outbreak, placing SMEs at risk of phishing schemes and ransomware assaults. Small and medium-sized businesses are critical contributors to a country's economic progress. SMEs are suffering an increase in cyberattacks as a result of the broad shift to remote labor, as seen by the COVID-19 outbreak.

 

 Physical Security Market

 

Physical Security Market Regional Insights:

North America is made up of developed nations with well-established foundations and modern technologies. The United States and Canada, with their greatest economies in North America, are the leading contributors to the North American physical security market. Concerning secure networks and technical progress, North America is by far the most advanced and flexible continent.

 

Physical security solutions have been used at a rapid pace throughout the region. In recent years, federal engagement has intensified in response to rising worries about the security of essential telecommunications infrastructure and sensitive information. The overall safety of the region's network infrastructures is controlled by a number of safety-related legally-mandated policies.

 

The purpose of this research is to provide stakeholders in the industry with a thorough insight into the Physical Security Market. The study includes an analysis of difficult data in simple language, as well as the industry's historical and current state, as well as anticipated market size and trends. The market report examines all segments of the industry, with a focus on significant players such as market leaders, followers, and new entrants. The report includes a PORTER, PESTEL analysis as well as the possible influence of microeconomic market determinants. External and internal elements that are expected to have a favorable or negative impact on the firm have been examined, providing decision-makers with a clear future vision of the industry. The research also aids in comprehending the Physical Security Market dynamics and structure by studying market segments and forecasting market size. The research is an investor's guide since it depicts the competitive analysis of major competitors in the Physical Security Market by product, price, financial situation, product portfolio, growth plans, and geographical presence.

 

Breakthroughs in the Physical Security industry are discussed, as well as organic and inorganic growth plans. Various companies are focusing on organic growth strategies such as new product releases, product approvals, and other items such as patents and events. Inorganic growth strategies used in the industry included acquisitions, partnerships, and collaborations.

 

Physical Security Market Scope:

Physical Security Market

Market Size in 2023

USD 123.02 Bn.

Market Size in 2030

USD 193.70 Bn.

CAGR (2024-2030)

6.7 %

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

Segment Scope

By Component

  • Systems
  • Services

By Organization Size

  • SMEs
  • Large enterprises

By Vertical

  • BFSI
  • Government
  • Retail
  • Transportation
  • Residential
  • Telecom and IT
  • Other

Regional Scope

North America- United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Physical Security Market Players:

  • ADT
  • Cisco
  • Honeywell
  • Johnson Controls
  • TELUS
  • Anixter
  • Genetec
  • Bosch Building Technology Solutions
  • HID Global
  • Pelco
  • Hikvision
  • Gallagher
  • SECOM
  • Allied Universal 
  • Zhejiang Dahua Technology
  • STANLEY Security
  • Axis Communications


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Frequently Asked Questions

Physical Security revenue is expected to grow at 6.7% from 2024 to 2030

1.    Physical Security Market: Research Methodology
1.1.  Research Data 
1.1.1.    Primary Data
1.1.2.    Secondary Data

1.2. Market Size Estimation
1.2.1.    Bottom-Up Approach
1.2.2.    Top-Down Approach

1.3. Market Breakdown and Data Triangulation
1.4. Research Assumptions
2.    Physical Security Market: Executive Summary
2.1. Market Overview
2.2. Market Size (2023) and Forecast (2024 – 2030) and Y-O-Y%
2.3. Market Size (USD) and Market Share (%) – By Segments and Regions
3.    Physical Security Market: Competitive Landscape
3.1. Stellar Competition Matrix
3.2. Key Players Benchmarking
3.2.1.    Company Name 
3.2.2.    Headquarter
3.2.3. Business Segment
3.2.4. End-user Segment
3.2.5. Y-O-Y%
3.2.6. Revenue (2023)
3.2.7. Profit Margin
3.2.8. Market Share
3.2.9. Company Locations

3.3. Market Structure
3.3.1.    Market Leaders 
3.3.2.    Market Followers
3.3.3.    Emerging Players

3.4. Consolidation of the Market
3.4.1. Strategic Initiatives and Developments
3.4.2. Mergers and Acquisitions
3.4.3. Collaborations and Partnerships

4.    Physical Security Market: Dynamics
4.1. Market Trends by Region
4.1.1. North America
4.1.2. Europe
4.1.3. Asia Pacific
4.1.4. Middle East and Africa
4.1.5. South America

4.2. Market Drivers 
4.3. Market Restraints
4.4. Market Opportunities
4.5. Market Challenges 
4.6. PORTER’s Five Forces Analysis
4.6.1. Intensity of the Rivalry
4.6.2. Threat of New Entrants
4.6.3. Bargaining Power of Suppliers
4.6.4. Bargaining Power of Buyers
4.6.5. Threat of Substitutes

4.7. PESTLE Analysis
4.7.1. Political Factors
4.7.2. Economic Factors
4.7.3. Social Factors
4.7.4. Technological Factors
4.7.5. Legal Factors
4.7.6. Environmental Factors

4.8. Technological Roadmap 
4.9. Regulatory Landscape
4.9.1.    Market Regulation by Region
4.9.1.1.    North America
4.9.1.2.    Europe
4.9.1.3.    Asia Pacific
4.9.1.4.    Middle East and Africa
4.9.1.5.    South America
4.9.2.    Impact of Regulations on Market Dynamics
4.9.3.    Government Schemes and Initiatives

5.    Physical Security Market Size and Forecast by Segments (by Value USD Million)
5.1. Physical Security Market Size and Forecast, By Component (2023-2030)
5.1.1.    Systems
5.1.2.    Services

5.2. Physical Security Market Size and Forecast, By Organization Size (2023-2030)
5.2.1.    SMEs
5.2.2.    Large Enterprises

5.3. Physical Security Market Size and Forecast, By Vertical (2023-2030)
5.3.1.    BFSI
5.3.2.    Government
5.3.3.    Retail
5.3.4.    Transportation
5.3.5.    Residential
5.3.6.    Telecom and IT
5.3.7.    Other

5.4. Physical Security Market Size and Forecast, by Region (2023-2030)
5.4.1.    North America
5.4.2.    Europe
5.4.3.    Asia Pacific
5.4.4.    Middle East and Africa
5.4.5.    South America

6.    North America Physical Security Market Size and Forecast (by Value USD Million)
6.1. North America Physical Security Market Size and Forecast, By Component (2023-2030)
6.1.1.    Systems
6.1.2.    Services

6.2. North America Physical Security Market Size and Forecast, By Organization Size (2023-2030)
6.2.1.    SMEs
6.2.2.    Large Enterprises

6.3. North America Physical Security Market Size and Forecast, By Vertical (2023-2030)
6.3.1.    BFSI
6.3.2.    Government
6.3.3.    Retail
6.3.4.    Transportation
6.3.5.    Residential
6.3.6.    Telecom and IT
6.3.7.    Other

6.4. North America Physical Security Market Size and Forecast, by Country (2023-2030)
6.4.1.    United States
6.4.2.    Canada
6.4.3.    Mexico

7.    Europe Physical Security Market Size and Forecast (by Value USD Million)
7.1. Europe Physical Security Market Size and Forecast, By Component (2023-2030)
7.2. Europe Physical Security Market Size and Forecast, By Organization Size (2023-2030)
7.3. Europe Physical Security Market Size and Forecast, By Vertical (2023-2030)
7.4. Europe Physical Security Market Size and Forecast, by Country (2023-2030)
7.4.1.    UK
7.4.2.    France
7.4.3.    Germany
7.4.4.    Italy
7.4.5.    Spain
7.4.6.    Sweden
7.4.7.    Austria
7.4.8.    Rest of Europe

8.    Asia Pacific Physical Security Market Size and Forecast (by Value USD Million)
8.1. Asia Pacific Physical Security Market Size and Forecast, By Component (2023-2030)
8.2. Asia Pacific Physical Security Market Size and Forecast, By Organization Size (2023-2030)
8.3. Asia Pacific Physical Security Market Size and Forecast, By Vertical (2023-2030)
8.4. Asia Pacific Physical Security Market Size and Forecast, by Country (2023-2030)
8.4.1.    China
8.4.2.    S Korea
8.4.3.    Japan
8.4.4.    India
8.4.5.    Australia
8.4.6.    Indonesia 
8.4.7.    Malaysia
8.4.8.    Vietnam
8.4.9.    Taiwan
8.4.10.    Bangladesh 
8.4.11.    Pakistan
8.4.12.    Rest of Asia Pacific

9.    Middle East and Africa Physical Security Market Size and Forecast (by Value USD Million)
9.1. Middle East and Africa Physical Security Market Size and Forecast, By Component (2023-2030)
9.2. Middle East and Africa Physical Security Market Size and Forecast, By Organization Size (2023-2030)
9.3. Middle East and Africa Physical Security Market Size and Forecast, By Vertical (2023-2030)
9.4. Middle East and Africa Physical Security Market Size and Forecast, by Country (2023-2030)
9.4.1.    South Africa
9.4.2.    GCC
9.4.3.    Egypt
9.4.4.    Nigeria
9.4.5.    Rest of ME&A

10.    South America Physical Security Market Size and Forecast (by Value USD Million)
10.1. South America Physical Security Market Size and Forecast, By Component (2023-2030)
10.2. South America Physical Security Market Size and Forecast, By Organization Size (2023-2030)
10.3. South America Physical Security Market Size and Forecast, By Vertical (2023-2030)
10.4. South America Physical Security Market Size and Forecast, by Country (2023-2030)
10.4.1.    Brazil
10.4.2.    Argentina
10.4.3.    Rest of South America

11.    Company Profile: Key players
11.1. ADT
11.1.1.    Company Overview
11.1.2.    Business Portfolio
11.1.3.    Financial Overview
11.1.3.1.    Total Revenue 
11.1.3.2.    Segment Revenue 
11.1.3.3.    Regional Revenue 
11.1.4.    SWOT Analysis
11.1.5.    Strategic Analysis
11.1.6.    Recent Developments 

11.2. Cisco
11.3. Honeywell
11.4. Johnson Controls
11.5. TELUS
11.6. Anixter
11.7. Genetec
11.8. Bosch Building Technology Solutions
11.9. HID Global
11.10. Pelco
11.11. Hikvision
11.12. Gallagher
11.13. SECOM
11.14. Allied Universal 
11.15. Zhejiang Dahua Technology
11.16. STANLEY Security
11.17. Axis Communications
12. Key Findings
13.    Industry Recommendations

13.1. Strategic Recommendations
13.2. Future Outlook

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