The Worldwide Physical Security Industry is Expected to Grow to $140 Billion by 2026
DUBLIN, June 23, 2022 /PRNewswire/ -- The "Physical Security Market with COVID-19 Impact Analysis by Component (Systems (PACS, PSIM, PIAM, Video Surveillance, Fire and Life Safety) and Services), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global physical security market size is expected to grow from USD 102.7 billion in 2021 to USD 140.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 6.4% from 2021 to 2026.
The major factors fueling the physical security market include Rising instances of terrorist activities and security breaches to physical systems, Increasing use of IP-based cameras for video surveillance, and Increasing cyber threats to physical security systems.
Services to grow at a higher CAGR during the forecast period
The physical security market is segmented based on types of services into managed services and professional services. Managed service providers help customers and keep their physical security systems, solutions, hardware, and software updated with the latest available enhancements. The in-house capabilities of customers are enhanced, as MSPs safeguard physical and IT system assets.
The professional services segment includes various services that are required to deploy, execute, and maintain physical security platforms in organizations. As the adoption of these platforms increases, the demand for these services is also expected to increase. The services in the physical security market are critical as they provide support for the proper functioning of the software and hardware-based solutions. physical security services comprise technical support services that require the effective integration of physical security solutions. Technical expertise is required to maintain and update physical security hardware and software.
In organization size segment, Large enterprises to have a higher market share during the forecast period
The large enterprises are highly dependent on physical security systems to protect their highly critical information. To protect their sensitive information from cyberattacks, data thefts, and unauthorized access, large corporations are quickly moving to physical security solutions.
The increasing complexity of threats and the growing sophisticated attacks are forcing large corporations and governments to regularly upgrade their security systems. Businesses that possess a large amount of sensitive and personal information run the highest risk of being targeted by cyber threats.
These threats could result in immense financial losses, information security incidents, and data breaches. Large enterprises have adopted physical security solutions as they largely use the cloud, BYOD devices, mobile devices, and IoT-based applications that are highly susceptible to cyberattacks. Amplifying internet penetration and increasing eCommerce activities are expected to increase the adoption of physical security technology across large firms.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Maket Overview and Industry Trends
5.2 Market Dynamics
184.108.40.206 Rising Instances of Terrorist Activities and Security Breaches to Physical Systems
220.127.116.11 Increasing Use of IP-Based Cameras for Video Surveillance
18.104.22.168 Increasing Adoption of 'As a Service' Model
22.214.171.124 Increasing Cyber Threats to Physical Security Systems
126.96.36.199 Violation of Privacy
188.8.131.52 Considerable False Alarm Rates
184.108.40.206 Lack of Efficient Storage and Data Management Capacities
220.127.116.11 Digital Transformation Enabled by Video Security Systems
18.104.22.168 Integration of Technologies, Such as Ai, Ml, and Analytics, in Physical Security
22.214.171.124 Adoption of Iot-Based Security Systems with Cloud Computing Platforms
126.96.36.199 Convergence of Multiple Physical Security Systems
188.8.131.52 Integration of Logical and Physical Components of Security Systems
184.108.40.206 High Installation and Maintenance Costs for Smes
5.3 COVID-19-Driven Market Dynamics
5.3.1 Cumulative Growth Analysis
5.3.2 COVID-19 Drivers and Opportunities Descriptive Information
5.3.3 COVID-19 Restraints and Challenges Descriptive Information
5.5 Value Chain Analysis
5.6 Patent Analysis
5.7 Pricing Model Analysis
5.8 Technology Analysis
5.8.1 Physical Security and Ai/Ml
5.8.2 Physical Security and Cloud
5.8.3 Physical Security and Smart Devices
5.8.4 Physical Security and Wireless Security Systems
5.8.5 Physical Security and Contactless Biometrics
5.8.6 Physical Security and Drones
5.9 Use Cases
5.10 Trends and Disruptions Impacting Customers
5.11 Porter's Five Forces Analysis
5.12 Regulatory Implications
5.12.1 General Data Protection Regulation (Gdpr)
5.12.2 Sarbanes-Oxley (Sox) Act
5.12.3 Health Insurance Portability and Accountability Act
5.12.4 Health Information Technology for Economic and Clinical Health
5.12.5 Payment Card Industry Data Security Standard
5.12.6 Federal Information Processing Standards
6 Physical Security Market, by Component
7 Physical Security Market, by System
8 Physical Security Market, by Service
9 Physical Security Market, by Organization Size
10 Physical Security Market, by Vertical
11 Physical Security Market, by Region
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/9r6vos
SOURCE Research and Markets