physical security market

Physical Security Market Share, Size, Trends, Industry Analysis Report, By Component (Systems, Services), By Service (System Integration, Remote Monitoring, Others), By Systems, By End-Use, By Region; Segment Forecast, 2021 - 2028

  • Published Date: Oct 2021
  • Pages: 112
  • Format: PDF
  • Report ID: PM2097
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Summary

The global physical security market was valued at USD 94.03 billion in 2020 and is expected to grow at a CAGR of 6.1% during the forecast period. The advent of the IoT is raising demand for physical security along with growing requirements for the centralized control of the disported security solutions among enterprises is propelling the market growth across the globe. In addition, the evolving technological advancements, as well as integration of the wireless technologies within the IP-based intended for the video surveillance further, supports the physical security market development.

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Moreover, rising incidences of the refugee crises, terror threats, and border clashes are accelerating the penetration of the numerous mandatory physical security measures, which acts as a catalyzing factor for physical security industry growth in the approaching period. The widespread of COVID-19 has affected every sector in the global market. The physical security market is also negatively affected owing to the decisive gap among supply chain and manufacturing units along with diminishing shipments of components and solutions for the manufacturing of physical access control systems.

However, the growing need for video surveillance and access control systems is projected to grow after the lockdown for reducing the incidences of burglary, attacks, and further criminal offenses. Moreover, numerous companies are actively participating in meeting the increasing consumer demand of the physical security systems, which also attributes to the physical security industry growth in the forecasting years.

Industry Dynamics 

Growth Drivers
The increasing adoption of the “as a service” models is majorly contributing to the physical security market growth. The advent of the “as a service” model facilitates the business unit's proficient management of the physical security intended for people and assets.

The conventional way of securing premises with a video surveillance system and on-site access control has been advanced with the arrival of the VSaaS and ACaaS. VSaaS is described as a hosted cloud-based video surveillance, and it comprises remote viewing, storage, video recording, management alerts, etc. This service approaches with a lower monthly subscription cost and exceedingly low upfront capital expense because of the economic level from the shared cloud infrastructure and sustainment.

Report Segmentation

The market is primarily segmented on the basis of component, system, service, end-use, and region.

By Component 

By System

By Service

By End-Use

By Region

  • Systems
  • Services
  • Video Surveillance
  • Intrusion Detection
  • Access Control
  • Exterior Systems
  • System Integration
  • Remote Monitoring
  • Others
  • Transportation
  • Government
  • Banking & Finance
  • Utility & Energy
  • Residential
  • Industrial
  • Retail
  • Commercial
  • Hospitality
  • Others
  • North America (U.S., Canada)
  • Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, South Africa, Israel, UAE)

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Insight by Component

The systems segment is the leading segment in terms of revenue generation in 2020 and is expected to dominate the physical security industry in approaching years. Owing to the growing market demand for the penetration of video surveillance systems across residential spaces, along with rising adoption by the banking and retail sectors as it facilitates them to monitor their assets and employees activity status.

In addition, Video surveillance products support individual consumers and associations in collecting evidence and data in case of physical security violation incidences and aid them in checking their surroundings. Moreover, innovative developments like live home monitoring presented on individual personal devices such as smartphones and laptops as well as rising needs for HD video monitoring in various sectors, are positively supporting market growth.

Thus, these factors are accelerating the physical security industry demand around the world. The services segment in the physical access control systems market is estimated to show substantial growth in the forecasting period. It includes the installation, maintenance, and modernization of the software and equipment, which enhances performance by offering flawless control in the overall physical security infrastructure.

Also, hasty developments in infrastructure across the emerging economies as well as technological advancements like Ultra High Definition (UHD) surveillance act as a catalyzing factor for the demand for such services. Development in technology such as IoT-based physical security is gaining huge prominence in the global physical security industry. Thus, these factors may bring an upsurge in the market demand in the near future. 

Insight by System

The video surveillance system segment is accounted for the largest revenue generator by holding the highest shares in the global market in 2020. Factors such as increasing technological developments like UHD, along with reducing the cost of equipment, are propelling the penetration of the video surveillance systems by boosting the growth of physical security and distant monitoring.

Additionally, rising stringent regulatory compliances and growing concerns regarding physical security and safety are further attributed to the global market demand. Besides, fast developments of institutional and commercial infrastructure in various areas, are increasing the demand for higher video surveillance systems. Thus, these factors may create lucrative market growth around the world.

Accordingly, rising responsiveness for the high physical security in developed nations such as North America also supports the demand for access control systems in the global market. Moreover, the Middle East & Africa are anticipated to demonstrate a high growth rate for the segment because of growing investments across data centers and infrastructural development by well-known IT organizations. Hence, these factors act as a catalyzing factor for the market growth in the forthcoming years.

Geographic Overview

Geographically, North America is the largest revenue contributor in 2020 and is expected to dominate the global market in the forecasting period owing to the highest adoption of the developed physical security systems. In addition, vigorous economic expansion, growing expenditures by the SMEs in physical security solutions, and evolving regulatory policies are the certain factors that lead the market growth.

Moreover, rising investments in infrastructural development and growing concern for public safety are the further factors that may foster the market demand. Likewise, transportation systems, like bus stations, railways, seaports, airports, and some public facilities, are focusing on protecting their infrastructure by installing such systems. Therefore, these factors may impel the market demand in North America in the upcoming years.

Moreover, the Asia Pacific is projected to grow at the highest CAGR across the globe in the approaching years. Owing to factors such as the growing market demand for smart solutions, especially in the developing nations such as China and India, tied with the growing responsiveness for the physical securities fuel market growth.

Competitive Landscape

Some of the Major Players operating in the global market include ADT, Anixter Inc., Axis Communications AB, Cisco Systems, Inc., Dahua Technology Co., Ltd, G4S Limited, Genetec Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International Inc., Johnson Controls, Kastle Systems International LLC, Pelco, Robert Bosch GmbH, SECOM CO., LTD, STANLEY CONVERGENT SECURITY SOLUTIONS, INC., and Dahua Technology Co., Ltd.

Physical Security Market Report Scope

Report Attributes

Details

Market size value in 2020

USD 94.03 billion

Revenue forecast in 2028

USD 137.99 billion

CAGR

6.1% from 2021 - 2028

Base year

2020

Historical data

2016 - 2016

Forecast period

2021 - 2028

Quantitative units

Revenue in USD billion and CAGR from 2021 to 2028

Segments covered

By Component, By System, By Service, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies

ADT, Anixter Inc., Axis Communications AB, Cisco Systems, Inc., Dahua Technology Co., Ltd, G4S Limited, Genetec Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International Inc., Johnson Controls, Kastle Systems International LLC, Pelco, Robert Bosch GmbH, SECOM CO., LTD, STANLEY CONVERGENT SECURITY SOLUTIONS, INC., and Dahua Technology Co., Ltd.

Key Take-Away
Polaris Market Research
Physical Security Market Competitive Analysis Size, Report 2028