Physical Security Market : Industry Analysis and Detailed Profiles of top Industry Players

Transparency Market Research’s (TMR) new report, titled “Physical Security Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019”, offers key insights into the said market. According to this report, the global physical security market will expand at a healthy CAGR of 14.9% during the forecast period from 2013 to 2019. In 2012, the global physical security market was valued at more than US$48 bn and by 2019, the market’s value is projected to be more than US$125 bn.Component-wise, the global physical security market is divided into hardware and software. The key hardware segments of the global physical security market are intrusion detection and prevention, access control, and others.

Among components, the video surveillance segment led the global physical security market in 2012 with a market share of 72%. In addition to this, the video surveillance segment is projected to expand at the highest CAGR during the forecast period. In the access control market, the biometric access control segment held the largest market share of nearly 38% in 2012.Software-wise, the global physical security market is classified into management analysis and modeling software and physical security information management (PSIM).

Service-wise, the global physical security market is segmented into public alert and warning system, security consulting, public safety answering point (PSAP), technical support, remote management services, video surveillance as a service (VSaaS), and others. The VSaaS market is projected to expand at a marked CAGR of 18.1% till 2020.

Application-wise, the global physical security market is divided into transportation and logistics, hospitality and casinos, business organizations, retail, industrial, chemical facilities, utilities/energy, control centers, government and public sector, and others. The transportation and logistics segment dominated the global physical security market in 2012.

Geography-wise, the global physical security market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). North America dominated the global physical security market in 2012. On the other hand, Asia Pacific is projected to witness the highest growth, at a CAGR of 17% during the forecast period. The growing support from police forces and the government sector to advance security and prevent the frequent incidents of crime and terror attacks will fuel this regional market.

The global physical security market is driven by the growing security concerns around the world and the accelerating budget allocation for physical security by governments. Moreover, factors such as rising adoption of physical security systems in business organizations and growing demand for complex and effective security management products and solutions will also drive the global physical security market. On the other hand, the global physical security market will be restrained by device interoperability issues related to physical security systems.

Players in the global physical security market will tap into market opportunities such as growing awareness regarding smart cities, utilizing smart security and emerging technologies such as cloud. The key players operating in the global physical security market are Morpho SA, Honeywell Security Group, NICE Systems, Siemens AG, Assa Abloy AB, BM Corporation, McAfee, and EMC Corporation.

Another prominent trend that will shape the global physical security market is convergence. In the future, almost all physical security systems will rely on IT systems and networking protocols to support their operations. This growing convergence will bring flexibility in deployment of physical security and drive the global physical security market in the years to come.

Critical Infrastructure Protection market is projected to grow at an CAGR of 6.8%, from 2017 to 2022

Rise in security breaches and cyber-attacks targeting enterprises across various industry verticals is expected to drive the Critical Infrastructure Protection (CIP) market

The CIP market size is estimated to grow from USD 110.41 billion in 2017 to USD 153.16 billion by 2022, at an estimated Compound Annual Growth Rate (CAGR) of 6.8%. The CIP market includes various security technologies, which are essential for safeguarding critical assets, enterprises, and territories from physical and cyber-attacks. Increased instances of physical attacks, such as terrorist activities, thefts, and intrusion drones, and cyber-attacks which include malware, ransomware, virus, and Advanced Persistent Threats (APTs) have driven the need for large-scale adoption of CIP security devices and services. However, the lack of technical expertise and industrial control system awareness limits the growth of the market.

The consulting services segment is expected to grow at the highest CAGR during the forecast period

The consulting services are helping clients in designing and implementing CIP programs, developing capital investment strategies, assessing and monitoring infrastructures, and meeting compliances and standards. Thus, the consulting services segment is expected to grow at the highest CAGR during the forecast period. However, the maintenance and support services segment is expected to have the largest market size in 2017.

The transportation systems segment is expected to grow at the highest CAGR during the forecast period

The CIP transportation systems market size is growing rapidly, due to increased instances of terror attacks on railway infrastructures, highways and bridges, and airports; pirate activities in international waters and ports; and cyber threats of malware, viruses, and APTs. The sensitive infrastructures and enterprises segment is expected to have the largest market size in 2017, owing to large adoption of video surveillance, video analytics, smart cards, biometric systems, and intrusion detection systems.

MEA is expected to have the highest growth rate and North America is expected have the largest market share during the forecast period

Major oil field projects are set up in Middle East and Africa (MEA), which require protection from physical attacks, cyber-attacks, and natural disasters. The MEA government and private customers are adopting best-in-class CIP systems, such as video surveillance systems, radars, command and control systems, access control systems, cybersecurity systems, and solutions, which have helped in the proliferation of the CIP market in the MEA region. The services segment is also growing at a high rate in the MEA region, as the risk assessment, incident response, maintenance and support, and consulting services are helping the critical site managers to keep their assets safe from threats.

North America is expected to have the largest market size in 2017, due to increasing number of criminals and cyber-attackers, who have disrupted the functioning of the critical infrastructural assets in the region. The North American region observes increased adoption in surveillance, access control, intrusion detection, radars and communication systems. Surveillance measures in public places and industrial sites have been strictly tightened by installing video surveillance systems supported by video analytics software. Various airports, marine ports, and border control areas have adopted biometrics based on modalities, such as fingerprint, face, and iris recognition for access control.

In-depth interviews were conducted with the CEOs, marketing directors, other innovation and technology directors, and executives from various key organizations operating in the CIP market place.

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Bharat Book is the leading market research information provider for market research reports, company profiles, industry study, country reports, business reports, newsletters and online databases Bharat Book Bureau provides over a million reports from more than 400 publishers around the globe. We cover sectors starting from Aeronautics to Zoology.