Wilmington, Delaware, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Global Physical Security Market size is estimated at a value of US$ 102.7 billion in 2023 and is predicted to rise at a substantial CAGR of 6.4% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
The Physical Security market is influenced by several drivers that contribute to its growth and adoption. These drivers reflect the increasing need for advanced security management solutions and the evolving threat landscape. Escalating security threats, both physical and cyber, have prompted organizations to invest in comprehensive security solutions.
IP-based cameras, often known as network cameras, have transformed video surveillance by providing sophisticated features such as greater resolution, scalability, and remote access. When compared to typical analog cameras, IP-based cameras give better image quality. Clearer and more detailed surveillance footage is possible thanks to higher quality and better image processing technologies, which improve total security efficacy.
- According to a deep-dive market assessment by RationalStat, the global physical security market has been analyzed on the basis of market segments, including component, organization size, end user, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global physical security market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global physical security market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Physical Security Market: Segmental and Market Share Analysis
- On the basis of components, video surveillance systems are expected to account for more than 80% of the entire physical security market.
- Based on organization size, small businesses are anticipated to cover a significant market share owing to the rising environmental dangers, theft, and intruders.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 102.7 billion |
| Market Size Forecast | US$ 158.6 billion |
| Growth Rate | 6.4% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the global physical security market include,
- In March 2022, Ouster Inc., a LIDAR technology firm, and Hexagon AB, a supplier and manufacturer of security systems, announced the launch of a collaborative security solution, Ouster, and Accur8vision, for securing and monitoring critical infrastructure using video surveillance software.
- IP-based cameras, often known as network cameras, have transformed video surveillance by providing sophisticated features such as greater resolution, scalability, and remote access.
- When compared to typical analog cameras, IP-based cameras give better image quality. Clearer and more detailed surveillance footage is possible thanks to higher quality and better image processing technologies, which improve total security efficacy.
Some of the prominent players and suppliers operating and contributing significantly to the global physical security market growth include Axis Communications AB, VidSys Inc, Bosch Security Systems Inc, EMC Corporation, Morpho SA, Tyco International Ltd, HikVision Digital Technology Co., Ltd, Assa AB, Genetec Inc, Honeywell Security Group, Cisco Systems Inc, and Pelco Inc., among others.
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RationalStat has segmented the global physical security market based on component, organization size, end user, and region
- Global Physical Security Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Component
- Systems
- Physical Access Control System (PACS)
- Video Surveillance System
- Perimeter Intrusion Detection and Prevention
- Physical Security Information Management (PSIM)
- Physical Identity & Access Management (PIAM)
- Fire and Life Safety
- Services
- System Integration
- Remote Monitoring
- Others
- Systems
- Global Physical Security Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Organization Size
- Large Enterprises
- Small and Medium Enterprises
- Global Physical Security Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by End User
- Transportation
- Government
- Banking & Finance
- Utility & Energy
- Residential
- Industrial
- Retail
- Commercial
- Hospitality
- Others
- Global Physical Security Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Physical Security Market
- US
- Canada
- Latin America Physical Security Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Physical Security Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Physical Security Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Physical Security Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Physical Security Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Physical Security Market
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Key Questions Answered in the Physical Security Report:
- What will be the market value of the global physical security market by 2030?
- What is the market size of the global physical security market?
- What are the market drivers of the global physical security market?
- What are the key trends in the global physical security market?
- Which is the leading region in the global physical security market?
- What are the major companies operating in the global physical security market?
- What are the market shares by key segments in the global physical security market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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