“The global size of the physical security market was estimated at USD 160 billion”, says Visiongain

01 November 2019
Electronics

Physical Security Market Report 2020-2030: Forecasts by Component (Hardware, Software, Services), By Organization Type (Small Scale Enterprises, Large Enterprises), By Vertical (BFSI, Government, Transportation, Retail, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and profiling of leading international and domestic companies.

In 2019, the global size of the physical security market was estimated at USD 160 billion and a CAGR of 10 percent is expected over the forecast period. One of the key factors expected to drive the demand is the increasing need for physical security. Factors such as increased security spending to secure organizations ' sensitive resources and rapid adoption of cloud-based data storage and advanced analytics, as well as technological developments in access control and video surveillance, are also expected to fuel market growth.

Furthermore, shifting focus from conventional, such as badge readers, alarm systems, and door locks, to innovative logical security solutions, including vulnerability identification, threat management, and avoidance of attack, would support growth from various organizations and government agencies. The world for physical security continues to evolve worldwide, leaving it vulnerable to cybercrime. Many cases of security breaches have been experienced over the past few years by various industries and sectors, such as BFSI, retail, state, and transportation. These factors are driving the demand more rapidly.

Governments across major regions are working continuously to strengthen their infrastructure for physical security to curb threats. For example, in October 2017, U.S. federal auditors were under covered. Government Accountability Office (GAO) has been given unauthorized access to secure areas on the National Institute of Standards and Technology (NIST) campuses in Colorado and Maryland. These events have contributed to the need for better legislation to protect the facilities of NIST or other federal buildings. In addition, the Institute has also established a Security Advisory Board to raise awareness among NIST employees about the importance of security.

While technologies such as the Internet of Things (IoT) have an important role to play, they have created potentially exploitable vulnerabilities. Moreover, entry points into an IoT-connected ecosystem's data systems have expanded the scope of cyber attacks. IoT security, however, has also broadened the scope of consumer opportunities by enabling data protection through advanced physical security system connected networks. In addition, IoT-enabled devices are expected to boost market growth by innovations and technology advances in integrated sensors, videos, and access systems.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

 

Recent News

Visiongain publishes Electronic Adhesives Market Report 2020-2030

Owing to many advances and growing sales of consumer electronics goods, the growth of the electrical & electronics industry is boosting demand for adhesives.

02 May 2020

Read

“Increasing expenditure in IoT and process automation systems across shipping industry is expected to drive significant revenue growth in the global smart port market”

The 150+ page report offers market forecasts and analysis for 13 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering more than 13 companies leading the field in Smart Port Market.

24 April 2020

Read

“Unmanned Traffic Management market worth $608.2 million in 2019” says Visiongain report

The unmanned traffic management market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of unmanned traffic management.

05 February 2020

Read

New Visiongain report: Water Quality Sensor Market 2020 – 2030

Increasing need to assess the quality of water before supplying it to the distribution system has prompted water treatment facilities to install water quality sensors, which ultimately increases demand for water quality sensor goods.

07 November 2019

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever