$ 268.30 Billion Global Physical Security Market by 2028 at 10.2% CAGR: Verified Market Research ™
JERSEY CITY, NJ, July 7, 2021 / PRNewswire / – Verified Market Research recently published a report, “Physical security market“By components (systems and services), by type of system (PACS, PSIM, PIAM), by type of service (ACaaS, VSaaS, remote monitoring services), by vertical (government, retail, transport, residential) and by geography. According to verified market research, the global physical security market has been valued at $ 124.96 billion in 2020 and should reach $ 268.30 billion by 2028, with a CAGR of 10.2% from 2021 to 2028.
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202 – Slips
126 – Tables
37 – Figures
Global Physical Security Market Overview
The increase in terrorist activity and increasing crime rates around the world have heightened concerns about the security of property, people and processes. The increase in attacks in several countries has resulted in the loss of several lives and severe damage to infrastructure, underscoring the need for physical security solutions. Overall, 2019 alone saw more than 8,300 terrorist attacks worldwide and around 25,000 deaths from terrorism. The Global Terrorism Database contains over 170,000 terrorist incidents from 1970 to 2019. The growing number of terrorist attacks is rapidly leading to increased demand for physical security solutions.
However, terrorist attacks and the death toll have shown a downward trend for more than a decade, according to the US State Department’s latest report on Global Terrorism.
To reduce crime rates, governments around the world are using physical security solutions to protect business and residential assets, employees and customers. The corporate sector also relies on physical security solutions.
Key developments in Physical security market
- In november 2020, Johnson Controls announced the launch of its Smart Connected Fire Sprinkler Monitoring solution. Fire sprinkler monitoring technology, part of Johnson Controls’ OpenBlue suite of digital solutions, will provide regular maintenance and real-time information on the health and operation of the fire sprinkler system.
- In March 2021, Bosch launched the first cameras based on the Inteox open camera platform that allows users to capture built-in artificial intelligence (AI) to build apps and install apps from the Security & Safety app store Things.
The main market players are ADT (US), Bosch Building Technologies (Germany), Cisco (US), Honeywell (US), Johnson Controls, (US), Anixter (US), Genetec (Canada), SECOM (Japan), G4S (United Kingdom), Pelco (United States) and Dahua Technology (United States).
Verified market research segmented the global physical security market on the basis of component, system type, service type, organization size, vertical, and geography.
- Physical Security Market By Component
- Physical Security Market by System Type
- Physical Access Control System (PACS)
- CCTV system
- Perimeter intrusion detection and prevention
- Physical Security Information Management (PSIM)
- Management of physical identities and access (PIAM)
- Security analysis, imaging and metal detection
- Physical security market by type of service
- Access Control as a Service (ACaaS)
- Video surveillance as a service (VSaaS)
- Remote monitoring services
- Security systems integration services
- Physical Security Market by Organization Size
- Physical security market by vertical
- Banking, Financial Services and Insurance (BFSI)
- Telecoms and Information Technology (IT)
- Physical security market by geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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