Physical security market
Insightace Analytic PVT. Ltd. announces the release of a market assessment report on the “Global Physical Security Market- (By Component (System (Physical Access Control System, Video Surveillance System, Perimeter Intrusion Detection & Prevention, Physical Security Information Management, Physical Identity & Access Management, Security Scanning, Imaging, and Metal Detection, Fire & Life Security), Services (System Integration, Remote Monitoring), By Organization Size (SMEs, Large Enterprises), By Vertical (BFSI, Gezondheidszorg, overheid, detailhandel en e -commerce, transport en logistiek, residentieel, onderwijs, ruimtevaart en defensie, it & ites, andere verticals)), trends, industriële competition analysis, turnover and prediction until 2031. “
According to the latest investigation of Insightace Analytic, the global physical security market in 2022 is valued at US $ 105.91 billion and it is expected that it will reach US $ 157.65 billion by 2031, with a CAGR of 4.6% for a forecast period of 2023-2031.
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Protection of employees, networks, hardware, software and data from actions and physical events such as fire, floods, natural disasters, theft, theft, vandalism and terrorism that can lead to loss or serious damage to a company, organization or government agency. The growing awareness of perimeter protection in developing countries has increased the use of IP-based cameras in shared homes, as well as commercial and office complexes. In addition, escalating terrorist threats, border problems and refugee crises increase safety.
The demand for digital and physical security is developing with the dependence on companies on the Internet of Things (IoT). To protect data, servers and networks, the internet of things requires a high level of physical protection. Because of the increase in terrorist activities and crime, people are more concerned about their safety and security. As a result of these attacks, many people were killed and infrastructure is badly damaged. The growing trend of digitization offers further prospects for market expansion.
List of prominent players on the physical security market:
• Johnson Controls (Ireland),
• Bosch Building Technology (Germany),
• Honeywell (US),
• ADT (US),
• Cisco (US),
• Telus (Canada),
• Wesco (US),
• Genetec (Canada),
• Hidden global (US),
• Pelco (US),
• Hikvision (China),
• Gallagher (New -Zeeland),
• Secom (Japan),
• Allied Universal (US),
• Zhejiang Dahua Technology (China),
• Axis Communications (Sweden),
• Hanwha Vision America (US),
• Teledyne Flir (US),
• Hexagon AB (Sweden),
• General dynamics (US),
• BAE Systems (UK),
• Huawei (China),
• NEC (Japan),
• Qognify (US),
• Smartcone Technology (Canada),
• Verkada (US),
• IOTAS (US),
• CloudASTructure (US).
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Market dynamics:
Drivers
Terrorist activity and crime figures have been concerned about the safety and security of people, assets and systems. These increasing attacks have resulted in the loss of different human lives and significant infrastructure damage, with an emphasis on the need for physical security solutions. More physical security measures are introduced in certain places to protect both residents and tourists. As a result, a strong emphasis has been made on protecting these critical installations, which leads to creating all -embracing physical security systems. The need to combat evolving terrorist tactics has accelerated technological progress in the physical security sector. Physical security measures are used on a large scale in organizations because of the criteria that must be met. These factors are expected to increase the growth of the global physical security market.
Challenges:
Long -term profitability is increased by implementing physical security systems. It is expensive to implement and maintain, which influences the pace of the acceptance of standardized events and emergency management solutions. The high installation and maintenance costs of physical security systems offer considerable financial challenges for small and medium-sized organizations (SMEs). Monitoring stations, access control systems, alarm systems and surveillance cameras are all required components of an extensive physical security infrastructure. The initial purchase costs and installation of these systems, as well as the required equipment and cabling, can be too expensive for SMEs.
Regional trends:
The North -American physical security market is expected to register a large market share in terms of turnover and this is expected to grow with a high CAGR in the near future. This region is a pioneer in the use of modern physical security technologies. Regulating reforms, economic growth and SME investments in physical safety solutions stimulate regional industry. To secure their infrastructure, have many public places, such as bus stations, airports, trains and seaports, security measures. Domestic crime, theft, terrorist acts and other reasons have considerably influenced the North -American market. The growing incidence of bank robberies in the country also feeds the demand for solutions for video analysis. This will stimulate market growth during the prediction period.
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Recent developments:
• In July 2023, the acquisition of Paladin Technologies was initiated by Bosch. Paladin Technologies had a workforce of around 1500 people at 35 different locations in Canada and the United States. Moreover, it was estimated that the expected turnover of the company reached almost $ 400 billion for the year 2023. The recording of the company was expected to be a valuable contribution to Bosch’s business area and the construction technology, which experienced a growth rate of 17.4 percent in 2022.
• In May 2022, Hikvision introduced the AX Hybrid Pro alarm system, including the recording of Hikvision’s advanced ‘speed-x’ transmission technology. This advanced system is suitable for various settings, such as banks, factories, offices and points of sale. The AX Hybrid Pro series contains advanced technologies while retaining the advanced design of the original AX Pro. This integration ensures a solidly wired security system and offers more flexibility through flexible wireless connectivity.
Segmentation of physical security market
By component
• Systems
o Physical access control system (PACS)
o Video -monitoring system
o Insert the infringement of the perimeter
o Physical security information management (PSIM)
o Physical identity and access management (Piam)
o Safety and life safety
• Services
o System integration
o Remote monitoring
O others
By organizational size-
• SMEs
• Large companies
By vertical
• BFSI
• Healthcare
• Government
• Retail and E -commerce
• Transport and logistics
• Residential
• Education
• Aerospace and defense
• IT & Ites
• Other verticals.
Per regional
North America
• the US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast -Asia
• Rest of Asia Pacific
Latin America
• Brazil
• Argentina
• Rest of Latin -America
Middle East and Africa
• GCC -Landen
• South Africa
• Rest of the Middle East and Africa
About us:
Insightace Analytic is a market research and consultancy firm that enables customers to make strategic decisions. Our qualitative and quantitative solutions for market information inform the need for market and competition instruments to expand companies. We help customers to achieve competitive advantage by identifying untreated markets, exploring new and competitive technologies, segmenting potential markets and restoring products. Our expertise is the provision of syndicated and adapted market information reports with an in -depth analysis with important market insights in a timely and cost -effective way.
Contact us:
Insightace Analytic PVT. Ltd.
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This release is published on OpenPR.
