Global Physical Security Market to Soar at 14.9% CAGR till 2019 thanks to Rising Adoption in Business Organizations

Press release   •   Jul 06, 2016 06:18 EDT

The growing security concerns across the globe, rising budget allocation for physical security by several governments, growing adoption in business organizations, and complexity of vulnerabilities are the major factors that are expected to fuel the growth of the global physical security market in the coming years. In addition, the growing investments in infrastructure, introduction of the smart city concept, and technological developments are further expected to drive the global physical security market. On the other hand, privacy concerns against the installation of surveillance cameras and device interoperability issues are the key factors hampering the growth of the market.

On the basis of component, the global market for physical security is broadly divided into software and hardware. Among the major segments studied in the hardware segment, in 2012, the video surveillance segment dominated the overall market, holding a share of 72% in the global physical security market. Moreover, this segment is expected to witness rapid growth throughout the forecast period. On the other hand, in 2012, in the access control segment, the biometric segment accounted for a share of 38% in the global market. Furthermore, the software segment of the global physical security market is further segmented into management analysis and modeling software and physical security information management.

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On the basis of application, the global market for physical security has been segmented into the public sector, industrial, business organizations, control centers, hospitality and casinos, government, retail, chemical facilities, transportation and logistics, utilities/energy, and others. Among all these segments, in 2012, the transportation and logistics segment led the overall market and is expected to remain in that position in the next few years.

On the basis of geography, the global physical security market is classified into Asia Pacific, North America, Europe, and Rest of the World. In 2012, the North America region led the overall physical security market. On the other hand, the Asia Pacific market is estimated to grow rapidly, registering a 17% CAGR between 2013 and 2019. The high growth of the market in this region can be attributed to the growing support from the government sector and police forces to develop effective security infrastructure and reduce the rate of terror attacks and crime.

The research study further talks about the competitive landscape of the global physical security market, including the company profile, contact information, product portfolio, financial overview, business policies, SWOT analysis, and recent developments such as major mergers and acquisitions. Some of the major players operating in the global physical security market are Nice Systems, Genetec, Cisco Systems, Assa Abloy, Honeywell Security Group, Vidsys, Pelco, MacAfee, EMC Corporation, Axis Communications, Siemens, IBM, Bosch Security Systems, Morpho SA, CSC, Tyco International Ltd, and Hikvision Digital Technology.

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