
Physical Security Market with COVID-19 Impact Analysis by Component (Systems (PACS, PSIM, PIAM, Video Surveillance, Fire and Life Safety) and Services), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2026
Description
Physical Security Market with COVID-19 Impact Analysis by Component (Systems (PACS, PSIM, PIAM, Video Surveillance, Fire and Life Safety) and Services), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2026
The global physical security market size is expected to grow from USD 102.7 billion in 2021 to USD 140.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 6.4% from 2021 to 2026. The major factors fueling the physical security market include Rising instances of terrorist activities and security breaches to physical systems, Increasing use of IP-based cameras for video surveillance, and Increasing cyber threats to physical security systems.
Services to grow at a higher CAGR during the forecast period
The physical security market is segmented based on types of services into managed services and professional services. Managed service providers help customers and keep their physical security systems, solutions, hardware, and software updated with the latest available enhancements. The in-house capabilities of customers are enhanced, as MSPs safeguard physical and IT system assets. The professional services segment includes various services that are required to deploy, execute, and maintain physical security platforms in organizations. As the adoption of these platforms increases, the demand for these services is also expected to increase. The services in the physical security market are critical as they provide support for the proper functioning of the software and hardware-based solutions. physical security services comprise technical support services that require the effective integration of physical security solutions. Technical expertise is required to maintain and update physical security hardware and software.
In organization size segment, Large enterprises to have a higher market share during the forecast period
The large enterprises are highly dependent on physical security systems to protect their highly critical information. To protect their sensitive information from cyberattacks, data thefts, and unauthorized access, large corporations are quickly moving to physical security solutions. The increasing complexity of threats and the growing sophisticated attacks are forcing large corporations and governments to regularly upgrade their security systems. Businesses that possess a large amount of sensitive and personal information run the highest risk of being targeted by cyber threats. These threats could result in immense financial losses, information security incidents, and data breaches. Large enterprises have adopted physical security solutions as they largely use the cloud, BYOD devices, mobile devices, and IoT-based applications that are highly susceptible to cyberattacks. Amplifying internet penetration and increasing eCommerce activities are expected to increase the adoption of physical security technology across large firms.
Among, larger firms, critical infrastructure and critical information industries are the major adopters of physical security solutions and services. For example, Manitoba Hydro, the major energy utility company in the province of Manitoba, Canada, upgraded to Genetec Security Center for video surveillance, access control, and intrusion detection. physical security governance laws in the region also support a drive to boost the adoption rate of physical security solutions among large enterprises.
Break-up of the profiles of primary participants:
By Company Type – Tier 1 – 43%, Tier 2 – 36%, and Tier 3 – 21%
By Designation – C-level Executives – 58%, Directors – 32%, and Others – 10%
By Region – North America - 19%, Europe – 12%, Asia Pacific – 9%, MEA – 55%, and Latin America - 5%
Major vendors offering physical security market across the globe are ADT (US), Cisco (US), Honeywell (US), Johnson Controls (Ireland), TELUS (Canada), Anixter (WESCO) (US), Genetec (Canada), Bosch Building Technology Solutions (Germany), HID Global (US), Pelco (US), Hikvision (China), Gallagher (New Zealand), SECOM (Japan), Allied Universal (US), Zhejiang Dahua Technology (US), STANLEY Security (US), Axis Communications (Sweden), Hanwha Techwin America (US), Teledyne FLIR (UK), Hexagon AB (Sweden), General Dynamics (US), BAE Systems (UK), Huawei (China), NEC (Japan), Qognify (US), SmartCone Technologies (Canada), Verkada (US), IOTAS (US), and Cloudastructure (US).
The study includes an in-depth competitive analysis of the key players in the physical security market, with their company profiles, recent developments, and key market strategies.
Research coverage
The market study covers the physical security market size across segments. It aims at estimating the market size and growth potential of this market across different segments: by component, by systems, by services, by organization size, by vertical and by region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall physical security market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The global physical security market size is expected to grow from USD 102.7 billion in 2021 to USD 140.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 6.4% from 2021 to 2026. The major factors fueling the physical security market include Rising instances of terrorist activities and security breaches to physical systems, Increasing use of IP-based cameras for video surveillance, and Increasing cyber threats to physical security systems.
Services to grow at a higher CAGR during the forecast period
The physical security market is segmented based on types of services into managed services and professional services. Managed service providers help customers and keep their physical security systems, solutions, hardware, and software updated with the latest available enhancements. The in-house capabilities of customers are enhanced, as MSPs safeguard physical and IT system assets. The professional services segment includes various services that are required to deploy, execute, and maintain physical security platforms in organizations. As the adoption of these platforms increases, the demand for these services is also expected to increase. The services in the physical security market are critical as they provide support for the proper functioning of the software and hardware-based solutions. physical security services comprise technical support services that require the effective integration of physical security solutions. Technical expertise is required to maintain and update physical security hardware and software.
In organization size segment, Large enterprises to have a higher market share during the forecast period
The large enterprises are highly dependent on physical security systems to protect their highly critical information. To protect their sensitive information from cyberattacks, data thefts, and unauthorized access, large corporations are quickly moving to physical security solutions. The increasing complexity of threats and the growing sophisticated attacks are forcing large corporations and governments to regularly upgrade their security systems. Businesses that possess a large amount of sensitive and personal information run the highest risk of being targeted by cyber threats. These threats could result in immense financial losses, information security incidents, and data breaches. Large enterprises have adopted physical security solutions as they largely use the cloud, BYOD devices, mobile devices, and IoT-based applications that are highly susceptible to cyberattacks. Amplifying internet penetration and increasing eCommerce activities are expected to increase the adoption of physical security technology across large firms.
Among, larger firms, critical infrastructure and critical information industries are the major adopters of physical security solutions and services. For example, Manitoba Hydro, the major energy utility company in the province of Manitoba, Canada, upgraded to Genetec Security Center for video surveillance, access control, and intrusion detection. physical security governance laws in the region also support a drive to boost the adoption rate of physical security solutions among large enterprises.
Break-up of the profiles of primary participants:
By Company Type – Tier 1 – 43%, Tier 2 – 36%, and Tier 3 – 21%
By Designation – C-level Executives – 58%, Directors – 32%, and Others – 10%
By Region – North America - 19%, Europe – 12%, Asia Pacific – 9%, MEA – 55%, and Latin America - 5%
Major vendors offering physical security market across the globe are ADT (US), Cisco (US), Honeywell (US), Johnson Controls (Ireland), TELUS (Canada), Anixter (WESCO) (US), Genetec (Canada), Bosch Building Technology Solutions (Germany), HID Global (US), Pelco (US), Hikvision (China), Gallagher (New Zealand), SECOM (Japan), Allied Universal (US), Zhejiang Dahua Technology (US), STANLEY Security (US), Axis Communications (Sweden), Hanwha Techwin America (US), Teledyne FLIR (UK), Hexagon AB (Sweden), General Dynamics (US), BAE Systems (UK), Huawei (China), NEC (Japan), Qognify (US), SmartCone Technologies (Canada), Verkada (US), IOTAS (US), and Cloudastructure (US).
The study includes an in-depth competitive analysis of the key players in the physical security market, with their company profiles, recent developments, and key market strategies.
Research coverage
The market study covers the physical security market size across segments. It aims at estimating the market size and growth potential of this market across different segments: by component, by systems, by services, by organization size, by vertical and by region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall physical security market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
335 Pages
- INTRODUCTION TO COVID-19
- COVID-19 HEALTH ASSESSMENT
- COVID-19 ECONOMIC ASSESSMENT
- OBJECTIVES OF THE STUDY
- MARKET DEFINITION
- MARKET SCOPE
- CURRENCY CONSIDERED
- STAKEHOLDERS
- SUMMARY OF CHANGES
- RESEARCH DATA
- DATA TRIANGULATION
- MARKET SIZE ESTIMATION
- COMPANY EVALUATION QUADRANT METHODOLOGY
- STARTUPS EVALUATION QUADRANT METHODOLOGY
- MARKET FORECAST
- ASSUMPTIONS FOR THE STUDY
- LIMITATIONS OF THE STUDY
- PHYSICAL SECURITY MARKET SIZE AND GROWTH, 2021-2026 (USD BILLION, Y-O-Y GROWTH)
- BRIEF OVERVIEW OF THE PHYSICAL SECURITY MARKET
- PHYSICAL SECURITY MARKET, BY SYSTEM, 2021
- PHYSICAL SECURITY MARKET, BY VERTICAL, 2021
- MARKET INVESTMENT SCENARIO
- INTRODUCTION
- MARKET DYNAMICS
- COVID-19-DRIVEN MARKET DYNAMICS
- ECOSYSTEM
- VALUE CHAIN ANALYSIS
- PATENT ANALYSIS
- PRICING MODEL ANALYSIS
- TECHNOLOGY ANALYSIS
- USE CASES
- TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS
- PORTER'S FIVE FORCES ANALYSIS
- REGULATORY IMPLICATIONS
- INTRODUCTION
- SYSTEMS
- SERVICES
- INTRODUCTION
- PHYSICAL ACCESS CONTROL SYSTEM
- VIDEO SURVEILLANCE SYSTEMS
- PERIMETER INTRUSION DETECTION AND PREVENTION
- PHYSICAL SECURITY INFORMATION MANAGEMENT
- PHYSICAL IDENTITY ACCESS MANAGEMENT
- SECURITY SCANNING, IMAGING, AND METAL DETECTION
- FIRE AND LIFE SAFETY
- INTRODUCTION
- MANAGED SERVICES
- PROFESSIONAL SERVICES
- INTRODUCTION
- SMALL AND MEDIUM-SIZED ENTERPRISES
- LARGE ENTERPRISES
- INTRODUCTION
- BANKING, FINANCIAL SERVICES, AND INSURANCE
- GOVERNMENT
- RETAIL
- TRANSPORTATION
- RESIDENTIAL
- TELECOM AND IT
- OTHER VERTICALS
- INTRODUCTION
- NORTH AMERICA
- EUROPE
- ASIA PACIFIC
- MIDDLE EAST AND AFRICA
- LATIN AMERICA
- OVERVIEW
- HISTORICAL REVENUE ANALYSIS
- MARKET SHARE ANALYSIS OF LEADING PLAYERS
- MARKET STRUCTURE
- RANKING OF KEY PLAYERS
- COMPETITIVE SCENARIO
- MARKET EVALUATION FRAMEWORK
- COMPANY EVALUATION QUADRANT
- COMPETITIVE BENCHMARKING
- COMPETITIVE LEADERSHIP MAPPING
- STARTUP/SME EVALUATION QUADRANT
- INTRODUCTION
- KEY PLAYERS
- OTHER PLAYERS
- START-UPS
- DISCUSSION GUIDE
- KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- AVAILABLE CUSTOMIZATIONS
- RELATED REPORTS
- AUTHOR DETAILS
Pricing
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