Physical Security Market Size is Predicted to Cross USD 192.9 Billion by 2030

The global physical security market is expanding as a result of an increase in terror attacks and public awareness.

PORTLAND, PORTLAND, OR, UNITED STATES, March 21, 2023 /EINPresswire.com/ -- Physical security market was valued at $104.6 billion in 2020, and it is anticipated to rise at a CAGR of 6.5% from 2021 to 2030 to reach $192.9 billion in 2030.

A larger security approach includes physical security as a component. Access control, surveillance, and security testing are considered the three most crucial elements of a physical security plan by security experts because collectively they improve the security of any area. One should construct a security perimeter early on in the process, where access restriction may begin. If there is on-site parking or other outside resources, users can utilize fence and video surveillance to control entry to the building and safeguard the exterior area.

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What are the Factors driving Physical Security Market?

• Increasing Crime Rates: Rising crime rates, particularly theft, burglary, and vandalism, are driving demand for physical security systems. Individuals and organizations are increasingly investing in physical security systems to protect their property and assets.

• Growing Need for Surveillance and Monitoring: With the increase in terrorism, cybercrime, and other security threats, there is a growing need for surveillance and monitoring. Physical security systems, such as video surveillance, access control, and intrusion detection systems, can provide real-time monitoring and help prevent security breaches.

• Advancements in Technology: The physical security market is benefiting from advancements in technology, such as high-definition cameras, advanced analytics, and biometric systems. These technologies are enabling physical security systems to become more sophisticated and effective.

• Government Regulations and Compliance Requirements: Government regulations and compliance requirements are driving demand for physical security systems. For example, organizations in certain industries, such as healthcare and finance, are required to meet specific physical security standards to protect sensitive information.

• Increasing Focus on Employee Safety: Employee safety is becoming an increasingly important concern for organizations. Physical security systems, such as panic buttons and emergency notification systems, can help protect employees and reduce the risk of workplace violence.

• Need for Protection of Critical Infrastructure: Critical infrastructure, such as power plants, water treatment facilities, and transportation systems, is vulnerable to security threats. Physical security systems can help protect critical infrastructure from physical and cyber threats.

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What are the Trends in Physical Security Market?

• Integration with Other Security Technologies: Physical security systems are increasingly being integrated with other security technologies, such as cybersecurity and access control. This integration allows for a more comprehensive approach to security and enables organizations to respond to security threats more quickly and effectively.

• Adoption of Cloud-Based Solutions: Cloud-based physical security solutions are becoming increasingly popular. These solutions offer flexibility, scalability, and cost savings, allowing organizations to access physical security systems from anywhere and at any time.

• Increased Use of Artificial Intelligence (AI) and Machine Learning (ML): AI and ML are increasingly being used in physical security to improve surveillance and monitoring. AI-powered video surveillance, for example, can identify potential security threats in real-time and trigger alerts.

• Focus on Cybersecurity: As physical security systems become more connected and reliant on technology, there is an increasing focus on cybersecurity. Organizations are investing in cybersecurity measures to protect their physical security systems from cyber threats.

• Shift toward Mobile Access Control: Mobile access control is becoming increasingly popular, as it provides a more convenient and secure way to manage access to facilities and assets. Mobile access control solutions can use biometrics, such as facial recognition or fingerprint scanning, to authenticate users.

• Increasing Use of Drones: Drones are increasingly being used in physical security for surveillance and monitoring. Drones can provide a bird's eye view of an area and can be equipped with cameras and other sensors to capture data.

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According to region, North America held a greater share of the physical security market in 2020 and is the home of significant firms providing cutting-edge solutions. As a result of the high instances of terrorism in the area, security measures are projected to be increased across a variety of industry verticals, including commercial, transportation, government, and others. This is anticipated to fuel market expansion over the course of the projection period.

The key players that operate in the physical security market analysis are ADT Inc., BAE Systems, Cisco system Inc., Genetec Inc., HONEYWELL INTERNATIONAL, INC., Johnson Controls, PELCO corporation, Robert Bosch GmbH, STANLEY CONVERGENT SECURITY SOLUTIONS, INC., and Senstar Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the physical security industry.

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David Correa
Allied Analytics LLP
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