Industry Background:
The growing popularity of the “As A Service” model will help to trigger the global Physical Security market in the forecasted period. Physical security is the defense of software, personnel, hardware, data, and networks from actions that can cause harm to an organization. Physical security helps the organization by protecting them against fire, terrorism, vandalism, and theft. Physical security can be provided by using numerous physical security devices such as CCTV surveillance, access control protocols, intruder alarms, Video Surveillance as a Service (VSaaS), Access Control as a Service (ACaaS), and other similar techniques. High Adoption of IoT-Based Security Systems with Cloud Computing Platforms will help to boost the global physical security market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Cisco Systems, Inc. (United States), Honeywell International Inc., (United States), ADT Inc. (United States), Bosch Building Technologies (Germany), Johnson Controls International plc, (United States), Anixter International Inc. (United States), Genetic (Canada), Pelco by Schneider Electric (United States), Secom Co., Ltd (Japan) and G4S plc (United Kingdom) |
According to AMA, the market for Physical Security is expected to register a CAGR of 8.9% during the forecast period to 2028. This growth is primarily driven by High Demand due to Increasing Number of Terror Attacks and Upsurging Demand due to Implementation of Mobile-Based Access Control.
Globally, a noticeable market trend is evident Rising Adoption of IP-Based Cameras for Video Surveillance
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Cisco Systems, Inc. (United States), Honeywell International Inc., (United States), ADT Inc. (United States), Bosch Building Technologies (Germany), Johnson Controls International plc, (United States), Anixter International Inc. (United States), Genetic (Canada), Pelco by Schneider Electric (United States), Secom Co., Ltd (Japan) and G4S plc (United Kingdom), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 7th January 2019, ADT has launched its smart home security system the ADT Command Panel & Control Platform (ADT Command) as well as a suite of smart security and home automation products.
On 13th December 2018, Johnson Controls has launched the next generation of the INTEVO integrated security platform from Kantech. The INTEVO Advanced (ADV) and Compact (CMP) integrated security platforms were upgraded with faster processors, improved memory performance, better graphics, and additional IP camera licenses, while the line was expanded with the cost-effective, streamlined Long Term Evolution (LTE) version.
Regulatory Insights:
The United States Government has passed several laws such as the Federal Information Security Act of 2002, Privacy Act (5 U.S.C. 552a), Payment Card Industry Data Security Standard (PCI DSS), and Integrated Physical Security Standards & Procedures (IPSSP) for security requirements. According to the Federal Information Security Act of 2002 “The FISMA publications are developed by NIST in accordance with its statutory responsibilities under the Federal Information Security Modernization Act (FISMA) of 2014, 44 U.S.C. § 3551 et seq., Public Law (P.L.) 113-283. NIST is responsible for developing information security standards and guidelines, including minimum requirements for federal systems, but such standards and guidelines shall not apply to national security systems without the express approval of appropriate federal officials exercising policy authority over such systems. ”
Influencing Trend:
Rising Adoption of IP-Based Cameras for Video Surveillance and Growing Inclination Towards IoT-Based Security Systems with Cloud Computing Platforms
Market Growth Drivers:
High Demand due to Increasing Number of Terror Attacks and Upsurging Demand due to Implementation of Mobile-Based Access Control
Challenges:
Rising Need of High Capacity Storage and Fueling Demand of High Bandwidth for Data Transfer
Restraints:
The Growing Concern Regarding Violation of Privacy and Issues with Device Vulnerability and Probabilities of Systems Being Hacked
Opportunities:
The Increasing Adoption of Artificial Intelligence to Boost Surveillance and Technological Advancements and Deployment of Wireless Technology in Security Systems
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Physical Security Market
- Analysis about New Entrants in Physical Security Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Physical Security Study Sheds Light on
The Physical Security Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Physical Security industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Physical Security industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.