Physical Security Market 2023: Industry Growth Projections, Statistics, Outlook Report 2028

The latest research study by IMARC Group, “Physical Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” offers a comprehensive analysis of the industry, which comprises insights on physical security industry. The global market size reached US$ 116.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 171.4 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

Physical security represents preventative measures and incident response tools that are designed to protect physical assets, software, hardware, networks, and properties from events that could cause profound loss or damage, such as natural disasters, fire, burglary, floods, robbery, vandalism, terrorism, theft, etc. They comprise of multiple layers of interdependent systems, including perimeter intrusion detection, security systems, access control, locks, deterrent systems, fire protection, closed-circuit television (CCTV) surveillance, etc. Physical security solutions assist in stopping unauthorized access to facilities, tracking security breaches, and maintaining trust and confidence. Consequently, they find widespread applications across numerous sectors, such as banking, retail, transportation, information technology (IT), telecommunications, government, etc.

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Physical Security Market Trends and Drivers:

The elevating security concerns, owing to the surge in terror attacks across the globe, are primarily driving the physical security market. Additionally, the growing installation of advanced video surveillance and access control systems in government establishments for preventing terrorism and crime incidents is acting as another significant growth-inducing factor. Furthermore, the escalating usage of drones, smart fence sensors, mass notification systems (MNS), etc., for surveillance at major events or assemblies is also positively influencing the market growth. Apart from this, the emerging trend of integrating artificial intelligence (AI) technologies for identifying potential areas of compromise and analyzing images, videos, and other essential data to differentiate threats from standard activities is further stimulating the global market. Moreover, the expanding utilization of the solution in residential buildings  to prevent theft and robbery incidences and the launch of automated home security solutions for door locking and fire and LPG gas leakage detections are anticipated to bolster the physical security market in the coming years.

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Physical Security Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Who are the Key players in The Physical Security Market?

• ADT LLC
• Assa Abloy AB
• Axis Communications AB (Canon Inc.)
• Cisco Systems Inc.
• Genetec Inc.
• Hangzhou Hikvision Digital Technology Co. Ltd. (China Electronics Technology Group Corporation)
• Honeywell International Inc.
• Johnson Controls International
• Pelco Incorporated (Motorola Solutions Inc.)
• Robert Bosch GmbH (Robert Bosch Stiftung GmbH)
• Senstar Corporation
• Siemens AG and STANLEY Convergent Security Solutions Inc. (Stanley Black & Decker Inc.).

The report has segmented the market on the basis of component, enterprise size and industry vertical.

Breakup by Component:

• System
• Services

Breakup by Enterprise Size:

• Large Enterprises
• Small and Medium-sized Enterprises

Breakup by Industry Vertical:

• Retail
• Transportation
• Residential
• IT and Telecom
• BFSI
• Government
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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