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13/08/2015

Physical Security market to reach $105 B

Chicago, Il (USA)

A new report has found that the global physical security market will grow from USD 65.41 Billion in 2015 to USD 105.26 Billion by 2020, at a CAGR of 9.98% from 2015 to 2020. The video surveillance segment is expected to dominate the physical security market, having been projected by research analysts from Marketsandmarkets to grow at the highest CAGR during forecast period of 2015 to 2020.

With the rise of global security concerns, including the increasing incidence of terrorist attacks, governments have increased budget allocation for implementing physical security systems and solutions in order to ensure security of their premises, assets, and people. These factors are expected to drive the growth of the physical security market in the coming years. Among the services, the system integration segment holds the largest share of the physical security market, while the maintenance and support segment is expected to grow at the highest CAGR during the forecast period.

These solutions help enterprises worldwide to maintain user identities and their related access permissions. A few systems, such as surveillance through traditional CCTV, are being replaced with IP video surveillance because of the various benefits offered by IP networks. The shift from analogue to IP has led organisations to spend on technologies that are scalable and add security services in order to improve their business. This will enable the right individuals to access the right resources at the right time. According to Marketsandmarkets, the Asia-Pacific region is one of the emerging markets for physical security solutions and services.

The global physical security market report primarily focuses on the various systems and services offered for implementing and maintaining suitable security solutions. The market has been segmented in terms of security systems, which include access control, video surveillance, perimeter intrusion detection, physical security information management, screening and scanning, and safety and security devices.

The major services covered in the report are system integration, designing & consulting, and support and maintenance. Presently, system integrators are in demand because of the customised needs of end users. Furthermore, the increasing crime and terrorism rate has posed a need for physical security solutions across different verticals. This report also covers key end-user verticals, such as BFSI, government & public sector, telecom & IT, among others. Furthermore, the report enumerates the key factors that are driving growth in this market, restraints and new opportunities in future.

The physical security market report further provides global adoption trends, future growth potential, and competitive benchmarking of leading players in this industry. Some of the main players named by analysts, include Anixter International, Cisco, Hewlett-Packard, IBM, EMC Corporation, Lockheed Martin, Schneider Electric, and CSC, who have been profiled in terms of their product offering, key strategies, and operational parameters.

The report is called, "Physical Security Market by System (Access Control, IP Video Surveillance Software, Locks, PSIM, PID), Services (System Integration, Maintenance & Support, and Designing & Consulting), Vertical, and Region - Global Forecast to 2020", and it segments the market on the basis of systems, services, verticals, and regions. Access control, video surveillance, physical security information management, perimeter intrusion detection, screening and scanning, and safety and security are named as the key systems within the physical security sector.


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