Global Physical Security Market Forecast to 2023 - Adoption of Iot-Based Security Systems With Cloud Computing Platforms

DUBLIN, Feb. 15, 2019 /PRNewswire/ — The “Global Physical Security Market by Component and Services, Organization Size, Vertical and Region – Forecast to 2023” report has been added to’s offering

The physical security market is projected to grow from USD 84.1 billion in 2018 to USD 119.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.3% from 2018 to 2023.

Rising incidents of terror attacks, technological advancements and deployment of wireless technology in security systems, increasing use of IP-based cameras for video surveillance, implementation of mobile-based access control, and adoption of Internet of Things (IoT)-based security systems with cloud computing platforms are projected to drive the growth of the market across the globe. However, violation of privacy related to physical security systems and services is expected to restrict the growth of the market across the globe.

Based on the component, the services segment is expected to grow with the fastest growth rate in 2018.

The services segment is projected to lead the physical security market during the forecast period. Physical security services play a vital role in enhancing the existing video surveillance system by integrating digital video surveillance with network and IT systems. This integration enhances property safety and reduces loss from thefts. Moreover, the service segment is being continuously affected by the introduction of the integrated Social, Mobile, Analytics, and Cloud (SMAC) solution, which need proper monitoring.

Based on organization size, the large enterprises segment is expected to lead the physical security market in 2018.

The large enterprises segment is expected to lead the physical security market in 2018. These enterprises were the early adopters of physical security solutions and services, as they have larger revenue pool to spend and a larger infrastructure to be protected. High spending on security, followed by the high need for securing large assets is leading large enterprises to contribute to a higher market share in the physical security market.

The residential vertical to lead the physical security market in 2018.

Business and recreational travelers demand safe and secure hotel accommodation with responsive and friendly customer service. The residential segment faces the challenge to manage security without violating the privacy of their guests, comfort, and travel experiences. In residential premises, the implementation of access control and video surveillance security systems is growing. The residential properties are installing access control systems to prevent invasion and burglary. There is also an increasing demand for access control systems to minimize unauthorized access. Residential properties are increasingly adopting electronic lock-based access control systems. The demand for electronic products is growing with the increased home automation trend.

The Asia Pacific (APAC) physical security market is projected to grow at the highest CAGR during the forecast period.

The APAC physical security market is projected to grow at the highest CAGR during the forecast period. This growth is primarily driven by the rising adoption of access control systems in Small and Medium-sized Enterprises (SMEs), hospitality businesses, airports, ATMs, banks, residential buildings, and religious places, among others are expected to drive the physical security market. Security systems are expected to witness increasing adoption in APAC as the countries in the region are emerging economies with a growing number of manufacturing bases, and there is also a constant risk of terror threats in the region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Physical Security Market
4.2 Market By Component, 2018-2023
4.3 Market By System, 2018-2023
4.4 Market By Service, 2018-2023
4.5 Market By Vertical, 2018
4.6 Market By Organization Size, 2018-2023
4.7 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Rising Incidents of Terror Attacks Technological Advancements and Deployment of Wireless Technology in Security Systems Increasing Use of IP-Based Cameras for Video Surveillance Implementation of Mobile-Based Access Control Adoption of Iot-Based Security Systems With Cloud Computing Platforms
5.2.2 Restraints Violation of Privacy
5.2.3 Opportunities Adoption of As A Service Model Use of AI to Boost Surveillance
5.2.4 Challenges Integration of Logical and Physical Components of Security Systems Device Vulnerability and Chances of Systems Being Hacked Need for High Bandwidth to Transfer Data Need for High Capacity Storage for High-Resolution Images/Videos and Recordings
5.3 Industry Trends
5.3.1 Use Cases

6 Physical Security Market By Component
6.1 Introduction
6.2 Systems
6.2.1 Physical Access Control System Locks Mechanical Locks Less Security and Rising Adoption of Electronic Locks Led to Stagnant Deployment of Mechanical Locks Electronic Locks Strong Security and Flexible Integration With Smart Building Systems to Spur the Growth of Electronic Locks Biometrics Fingerprint Recognition Increasing Use of Fingerprint Sensors in Various Electronic Devices Led to the Growth of Fingerprint Recognition as A Standard Biometric Technology Facial Recognition Better Accuracy, Non-Contact Process, and Ease of Deployment to Drive the Growth of Facial Recognition Others Smart Cards and Readers Growing Threat of Authentication Breaches to Drive the Demand for Smart Cards and Readers Access Control Software Rising Adoption of Cloud Computing to Drive the Growth of Cloud-Based Access Control Software
6.2.2 Video Surveillance System Cameras Analog Cameras Low Price of Analog Cameras to Continue to Drive Their Adoption Across Price-Sensitive Verticals IP Cameras Proliferation of Remote Monitoring Devices to Boost the Demand for IP Cameras Recorders Digital Video Recorders Rising Adoption of Network Video Recorders to Constrain the Growth of Digital Video Recorders Network Video Recorders Remote Operation Functionality to Drive the Demand for Network Video Recorders Video Analytics Software Increased Need for Actionable Intelligence Led to the Demand for Video Analytics in Video Management Solutions Video Management Software Rising Deployment of Surveillance Cameras to Fuel the Demand for Video Management Software
6.2.3 Perimeter Intrusion Detection and Prevention Growing Need to Secure External Premises to Fuel the Growth of Perimeter Intrusion Detection and Prevention System
6.2.4 Physical Security Information Management Growing Demand to Integrate Disparate Security Components to Drive the Growth of Psim Systems
6.2.5 Physical Identity and Access Management Ability to Integrate Multiple Components of Access Control Hardware to Drive the Demand for Piam
6.2.6 Security Scanning, Imaging, and Metal Detection Increasing Focus on Public Safety to Propel the Growth of Security Scanning, Imaging, and Metal Detection Systems
6.2.7 Fire and Life Safety Rising Fire Incidents Led to Increased Deployment of Fire and Life Safety Systems
6.3 Services
6.3.1 Access Control as A Service SMEs to Drive the Growth of the Acaas Industry
6.3.2 Video Surveillance as A Service Rising Adoption of Cloud Services to Significantly Result in Increased Adoption of Vsaas
6.3.3 Remote Monitoring Services Use of IP-Based Connected Technologies to Enhance Remote Monitoring Capabilities
6.3.4 Security Systems Integration Services Open Network Video Interface Forum Standard to Be A Key Enabler for Seamless Integration of Security Systems

7 Physical Security Market By Organization Size
7.1 Introduction
7.2 Small and Medium-Sized Enterprises
7.2.1 Early Adoption of Cloud-Based Physical Security Services By Small and Medium-Sized Enterprises Led to the Growth of These Services
7.3 Large Enterprises
7.3.1 Cost Benefits of Cloud-Based Physical Security Services Led to the Increasing Adoption of These Services By Large Enterprises

8 Physical Security Market By Vertical
8.1 Introduction
8.2 Banking, Financial Services, and Insurance
8.2.1 Physical Security to Play an Important Role in the Security of Organizations Operating in the BFSI Vertical
8.3 Government
8.3.1 Rising Incidence of Terror Attacks Globally Led to the Increasing Adoption of Physical Security Technologies and Solutions in the Government Vertical
8.4 Retail
8.4.1 Video Analytics to Play an Important Role in Driving the Growth of the Retail Vertical
8.5 Transportation
8.5.1 Increased Criminal Activities, Liability Suits, Vandalism, and Terrorism-Related Threats to Urge the Need for Physical Security in the Transportation Vertical
8.6 Residential
8.6.1 Implementation of Access Control and Video Surveillance Security Systems to Grow in the Residential Vertical
8.7 Telecom and IT
8.7.1 Increased Security Threats Related to Legal Data to Propel the Need for Physical Security in the Telecom and IT Vertical
8.8 Others

9 Physical Security Market By Region

10 Competitive Landscape
10.1 Overview
10.2 Competitive Situation and Trends
10.3 Key Players in the Physical Security Market

11 Company Profiles
11.1 ADT
11.2 Bosch Building Technologies
11.3 Cisco
11.4 Honeywell
11.5 Johnson Controls
11.6 Anixter
11.7 Genetec
11.8 Secom
11.9 G4s
11.10 Pelco By Schneider Electric
11.11 Zhejiang Dahua Technology Co.
11.12 Kastle Systems
11.13 Hangzhou Hikvision Digital Technology Co.
11.14 Stanley Convergent Security Solutions
11.15 Axis Communications

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