Global Physical Security Market to cross $150 Bn by 2027; Global Market Insights, Inc.

Some of the major physical security market participants are Honeywell International Inc., Axis Communications AB, Hangzhou Hikvision Digital Technology Co., Ltd., ASSA Abloy, Johnson Controls, IDEMIA, Pelco, STANLEY Convergent Security Solutions, Inc., and NEC Corporation.

Selbyville, Delaware, UNITED STATES

Selbyville, Delaware, Feb. 04, 2021 (GLOBE NEWSWIRE) --

Global Market Insights, Inc. has recently added a new report on the physical security market which estimates the market valuation for physical security will cross US$ 150 billion by 2027. The high demand for advanced security solutions from several industry verticals will propel the market growth.

The demand for access control systems from corporate enterprises is increasing. These systems ensure the entry of only authorized employees in the premises. The access control systems eliminate the need for security personnel at entry gates. Employees can be provided with cards that are scanned at access control systems established at the entry & exit points. Players are focusing on integrating biometric into access control solutions, enabling authorized access through facial, fingerprint or iris recognition. Manufacturing facilities also employ physical security systems connected with alarms, alerting authorities by sounding alarm in case of an unwanted intrusion.

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There will be a high demand for physical security solutions from the developing residential sector globally. Smart cities are increasingly deploying IoT systems to ensure the interconnection of objects. There will be a growing demand for physical security solutions that can be integrated with IoT systems. For instance, video surveillance cameras, access control solutions, and intruder detection systems can be interconnected and controlled remotely. This enables individuals to ensure the safety of pets, children, and elderly people remotely.

The increasing number of smart homes are installing security solutions. Around 50% of Australians are using some form of smart home technology as of 2020. The video surveillance systems integrated with other smart home devices enable to send alerts on the user’s smartphones about unwanted intrusion, enhancing the overall security of asset as well as people.

The improving economic conditions in Latin America coupled with the expanding industrial sector will offer growth opportunities to the physical security industry. Growth of the tourism sector over the recent years has encouraged transportation authorities to upgrade the existing security measures.

In September 2019, the government of Chile announced a USD 5 billion investment program, Chile Sobre Rieles to expand and upgrade the country’s railway network. Such infrastructure upgrading initiatives will support the adoption of advanced physical security solutions for improving safety. In July 2019, around 50 migrants from Central America were spotted hiding within truck compartments, at a checkpoint in Zacatecas. The Mexican officials detected these migrants by using a large x-ray scanner.

Some major findings of the physical security market report are:

The growth of the tourism sector globally will upsurge the demand for physical security solutions from the transportation industry. Airports implement enhanced security solutions to ensure the safety of passengers and infrastructure.

Video surveillance systems enable authorities to monitor large facilities in real time. The technology enables authorities to view several areas from a unified location, enabling them to take proactive measures for any kind of security attack.

The demand for security scanning, imaging, and metal detection solutions from retail and transportation industries is increasing. These solutions enable authorities to scan hidden weapons or hazardous elements hidden in bags.

The system integration services that facilitate seamless implementation of physical security solutions are witnessing high adoption. These services ensure the integration of hardware components with software platforms to deploy a consolidated system.

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The demand for physical security solutions from the BFSI sector is increasing, as banks employ these systems to protect the valuable belongings in lockers. The banks handle large amounts of cash that necessitates the deployment of robust security solutions to restrict unwanted access and intrusion.

The infrastructure development projects in Asia Pacific will offer growth opportunities to the physical security market. Smart city development projects in Singapore will fuel the demand for advanced security solutions.

Players operating in the industry are focusing on integrating advanced technologies, such as AI and machine learning, into systems to strengthen their offerings and market position. They are launching innovative solutions to capture a larger market share.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    Physical security industry 360⁰ synopsis, 2017 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Component trends

2.1.4    Application trends

Chapter 3   Physical Security Industry Insights

3.1    Industry segmentation

3.2    Impact of coronavirus (COVID-19) pandemic

3.2.1    Global outlook

3.2.2    Regional outlook    North America    Europe    Asia Pacific    Latin America    MEA

3.2.3    Industry value chain    Raw material suppliers    Component suppliers    Manufacturers

3.2.4    Competitive landscape    Marketing    Distributors    Service providers

3.3    Industry ecosystem analysis

3.3.1    Raw material suppliers

3.3.2    Component suppliers

3.3.3    Manufacturers

3.3.4    Technology/software providers

3.3.5    System integrators

3.3.6    Distributors

3.3.7    Service providers

3.3.8    Vendor matrix

3.4    Technology & innovation landscape

3.4.1    IoT & AI-based system

3.4.2    Biometric access control

3.4.3    Cloud-based system

3.5    Regulatory landscape

3.5.1    North America

3.5.2    Europe

3.5.3    Asia Pacific

3.5.4    Latin America

3.5.5    MEA

3.6    Industry impact forces

3.6.1    Growth drivers    Rising security threats in the U.S.    Evolution of manufacturing practices in the UK    Favourable infrastructure trends in Asia Pacific    Declining prices of security cameras in Taiwan and China    Increasing adoption of advanced security systems from the expanding transportation infrastructure    Increasing adoption of commercial security in the Middle East    Growing adoption of cloud-based systems globally

3.6.2    Industry pitfalls & challenges    Hardware failure resulting in system downtime    High cost of implementation

3.7    Growth potential analysis

3.8    Porter’s analysis

3.8.1    Supplier power

3.8.2    Buyer power

3.8.3    Threat of new entrants

3.8.4    Threat of substitutes

3.8.5    Internal rivalry

3.9    PESTEL analysis

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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