ALBANY, New York, June 08, 2018 (GLOBE NEWSWIRE) -- Featuring a largely fragmented, dynamic, and a highly competitive vendor landscape, the global market for physical security sees an increased focus of companies on the use of advanced technologies in their products and services so as to stay ahead of peers, observes Transparency Market Research in a recent report. As enterprises, government offices, and residential and commercial areas across the globe increasingly adopt digital devices and networking technologies in their infrastructures, technologically advanced physical security products are expected to gain incredible popularity in the near future. Thus companies operating in the physical security market are expected to plough in increased funds and resources into the refinement of their products and services to suit the new trends.
Companies are also expected to advance on the front of development and delivery of cloud-based services as consumers become aware of the vast cost and flexibility benefits that cloud solutions provide. Some of the leading companies in the market are NICE Systems, Assa Abloy AB, IBM Corporation, Honeywell Security Group, Morpho SA, Siemens AG, EMC Corporation, and McAfee.
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According to the report, the global physical security market is expected to rise to a revenue opportunity of US$125 bn by 2019. If the numbers hold true, the market would have recorded an impressive CAGR of 14.9% from 2013 to 2019.
Transportation and Logistics Industry to Remain Key Consumer
Of the key applications of physical security solutions and services, the transportation and logistics segment accounted for the dominant share of the global revenues for a large part of the report’s forecast period. The industry is expected to continue to drive the demand for effective physical security solutions over the next few years as well, acquiring a large share of the overall revenue of the global market over the next few years.
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From a geographical standpoint, the market in North America presently accounts for the dominant share of revenue and is expected to retain dominance over the forecast period as well. The market in Asia Pacific, however, is likely to outperform other regional markets in terms of growth pace as the government and police sectors present a steadily rising demand for physical security solutions and services.
Increased Adoption in Enterprise Sector to Drive Growth
One of the key factors driving the global physical security market is the rising concerns pertaining to inland security across the globe owing to a massive rise in disruptive and terrorist acts in the recent years. As government across the globe invest more resources into ensuring the security of their populations, the uptake of effective physical security solutions is estimated to witness a steady rise as well. The market is also expected to benefit from the rising uptake of physical security solutions in the enterprise sector and the rising numbers of small and medium enterprises across emerging economies in regions such as Asia Pacific and Latin America.
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Moreover, strict regulations imposed by several governments pertaining the security of areas such as educational institutes, historical monuments, and places of religious prominence and the rising investments in the field of infrastructure development are also expected to drive the market.
This analysis of the global physical security market is based on a detailed market research report by Transparency Market Research, titled “Physical Security Market (Components - Hardware (Intrusion Detection and Prevention, Intrusion Detection, and Access Control), Software (Physical Security Information Management (PSIM), Management Analysis and Modeling Software), and Services (Video surveillance as a service (VSaaS), Remote Management Services, Technical Support, Public safety answering point (PSAP), Security consulting, Public alert and warning system); Applications - Transportation and Logistics, Government and Public Sector, Control Centers, Utilities/Energy Markets, Chemical Facilities, Industrial, Retail, Business Organizations, Hospitality and Casinos, stadiums, Educational and Religious Infrastructure, and Healthcare Organizations) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.”
For the study, the market has been segmented as follows:
Global Physical Security Market by Components: Hardware
- Intrusion detection and prevention
- Video surveillance
- Analog Cameras
- IP Cameras
- Digital video recorders (DVRs)
- Close circuit television (CCTV)
- Encoders
- Storage
- Network video recorders (NVRs)
- Intrusion detection
- Panels
- Detectors
- Keypads
- Accessories
- Intruder alarms and locks
- Access control
- Biometrics
- Fingerprint recognition
- Facial recognition
- Iris recognition
- Others (voice, signature, hand geometry, so on)
- RFID
- Active RFID
- Passive RFID
- Interrogators
- Card based access control
- Smart cards and readers
- Proximity cards and readers
- Controllers
- Others (touch screens and keypads, barcodes, magnetic stripes, so on)
- Others
- Fire and life safety
- Visitor management
- Backup power
- Biometrics
Global Physical Security Market by Components: Software
- Physical security information management (PSIM)
- Management analysis and modeling software
Global Physical Security Market by Components: By Services
- Video surveillance as a service (VSaaS)
- Remote management services
- Technical support
- Public safety answering point (PSAP)
- Security consulting
- Public alert and warning system
- Others (data source, hosted access control, managed access control, alert notification, mobile security management)
Global Physical Security Market: Applications
- Transportation and logistics
- Aviation
- Rail
- Ports
- Road and city traffic
- New starts
- Government and public sector
- Control centers
- Utilities/ energy markets
- Fossil generation facilities
- Oil and gas facilities
- Liquid natural gas facilities (import and export regulations and market analysis)
- Nuclear power
- Solar
- Wind
- Hydro electric
- Chemical facilities
- Industrial (manufacturing sector excluding chemical facilities)
- Retail
- Business organizations (including IT sector)
- Hospitality and casinos
- Others (stadiums, educational and religious infrastructure, healthcare organizations)
Global Physical Security Market: Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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