Physical Security Market Set To Reach USD 200.81 Billion By 2032, Driven By Rising Security Concerns And Increased Infrastructure Protection Needs | SNS Insider
Physical Security Market Set To Reach USD 200.81 Billion By 2032, Driven By Rising Security Concerns And Increased Infrastructure Protection Needs | SNS Insider . (MENAFN - GlobeNewsWire - Nasdaq) A key driver of the physical security market is the increasing global concerns over security threats, including terrorism, theft, and vandalism.Austin, Dec. 15, ...
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(MENAFN- GlobeNewsWire - Nasdaq) A key driver of the physical security is the increasing global concerns over security threats, including terrorism, theft, and vandalism. Austin, Dec. 15, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Insights: According to the SNS Insider,“The Physical Security Market Size was valued at USD 122.92 Billion in 2023 and is expected to reach USD 200.81 Billion by 2032 and grow at a CAGR of 5.65% over the forecast period 2024-2032.” Physical Security Market Set for Rapid Growth Driven by Rising Security Concerns and Technological Integration The physical security market is rapidly growing due to increasing concerns about crime, terrorism, and vandalism, with organizations investing in advanced security solutions across various sectors. The demand for integrated security systems, including video surveillance, access control, and intrusion detection technologies, is rising, driven by evolving global threats. Advancements in artificial intelligence and machine learning are further enhancing the appeal of security solutions for businesses and government use. In the U.S., the market was projected to reach USD 405 billion by 2023, with a 9% year-over-year growth rate expected in 2024. Video surveillance systems and security services, particularly guarding services, are major contributors to market expansion, with a growing trend toward integrating physical and cybersecurity to address emerging threats. Get a Sample Report of Physical Security Market Forecast @ Leading Market Players with their Product Listed in this Report are:

Tyco International (CCTV Systems, Access Control Solutions)

Honeywell (Video Surveillance Systems, Intrusion Detection Systems)

Bosch Security Systems (Security Cameras, Alarm Systems)

Axis Communications (Network Cameras, Video Encoders)

Genetec (Security Center, AutoVu)

ADT Inc . (Commercial Security Systems, Home Security Solutions)

Cisco Systems (Cisco Video Surveillance, Security Management Solutions)

Hikvision (IP Cameras, Video Management Software)

Pelco (Video Surveillance Cameras, Video Management Systems)

Securitas AB (Guarding Services, Mobile Patrol Services)

G4S (Integrated Security Solutions, Cash Solutions)

Stanley Security (Access Control Systems, Video Surveillance Solutions)

Schneider Electric (EcoStruxure Security Expert, Video Management Software)

IBM (Security Information and Event Management, Physical Security Solutions)

Milestone Systems (Video Management Software, Open Platform Solutions)

FLIR Systems (Thermal Imaging Cameras, Surveillance Solutions)

Dahua Technology (Surveillance Cameras, Video Recorders)

Verint Systems (Video Intelligence Solutions, Security Solutions)

LenelS2 (OnGuard Security Management System, Mobile Access Solutions) Motorola Solutions (Two-Way Radios, Video Security Solutions) . Physical Security Market Report Scope:

Report Attributes Details Market Size in 2023 USD 122.92 Billion Market Size by 2032 USD 200.81 Billion CAGR CAGR of 5.65% From 2024 to 2032 Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook Key Segments . By Component (Systems (Physical Access Control System (PACS), Video Surveillance System, Perimeter Intrusion Detection and Prevention, Physical Security Information Management (PSIM), Physical Identity & Access Management (PIAM), Fire and Life Safety), Services (System Integration, Remote Monitoring, Others)),

. By Size (Large Enterprises, SMEs),

. By End Use (Transportation, Government, Banking & Finance, Utility & Energy, Residential, Industrial, Retail, Commercial, Hospitality, Others Key Drivers . Driving Security Innovation for Integrated Protection Across Commercial, Industrial, and Residential Sectors.

. Smart Security Evolution IoT and AI Are Transforming Physical Security Systems for Enhanced Efficiency and Rapid Response.

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Physical Security Market Growth Driven by Systems, Enterprise Demand, and Government Investment

By System

The physical security market is led by the systems segment, which accounted for 68% of the market share in 2023. There is increasing demand for comprehensive solutions combining surveillance, access control, and intrusion detection to protect critical infrastructure from emerging threats like theft and terrorism. Cloud-based technologies and artificial intelligence have further enhanced these systems, improving functionality and ease of use.

The services segment is projected to grow rapidly, with a CAGR of 8.35%, driven by the need for installation, maintenance, and upgrades. Rising infrastructure development and advancements like UHD surveillance are fueling demand for physical security services.

By Organization Size

In 2023, the large enterprise segment led the market, accounting for over 63% of global revenue. This dominance is driven by the need to protect extensive infrastructure, critical information, and significant financial resources, making large enterprises early adopters of physical security solutions. These businesses are focused on safeguarding their data from theft, cyberattacks, and unauthorized access.

The small and medium-sized enterprises (SMEs) segment is expected to grow rapidly at a CAGR of 7.28% during the forecast period, as SMEs face increasing threats from theft, environmental hazards, and intrusions, necessitating stronger security measures to protect resources and personnel.

By End-Use

In 2023, the government segment led the market. This growth is driven by increased government spending on national security and public safety, in response to global threats like terrorism and cyberattacks. Governments are investing in advanced security technologies, including surveillance and access control systems, to protect critical infrastructure and public spaces.

The residential segment is expected to grow at a robust rate of 6.58% during the forecast period, as rising concerns over theft and security risks drive demand for comprehensive solutions. Enhanced video surveillance, smart access control, and quick intrusion detection systems are improving safety and asset protection for residential properties.

North America and Asia Pacific Lead Physical Security Market Growth with Robust Demand and Investment

In 2023, North America led the Physical Security market with over 39% of total revenue. This dominance is driven by strong economic growth, regulatory reforms, and increasing investments in advanced security solutions, especially among SMEs. The region's heightened focus on combating growing security threats further bolsters its leadership in market innovation.

The Asia Pacific region is projected to experience the fastest CAGR of 6.35% during the forecast period. This growth is fueled by the rising demand for smart security solutions in India and China, with significant investments from the Chinese government in "safe city" initiatives, focusing on city surveillance and traffic monitoring.

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Recent Development



April 11, 2024: Bosch has announced its collaboration with Genetec to enhance customer flexibility in video security management. The integration of Bosch cameras with the new Genetec Security Center SaaS, supported by firmware version 9.21, allows seamless video viewing and configuration via cloud-managed connections, offering scalability, flexibility, and high data security for enterprise-level physical security solutions.

December 2024: Honeywell's recent analysis highlights the evolving nature of cyber-physical attacks, with new malware such as Industroyer 2 and Incontroller demonstrating advanced tactics. These threats target critical infrastructure, exploiting widely used industrial protocols and expanding the attack surface. The frequency and sophistication of these attacks are rising, with state-sponsored actors increasingly focusing on disrupting essential services. Honeywell emphasizes the urgent need for enhanced cybersecurity measures to protect operational technology networks and safeguard against these growing threats to critical infrastructure. December 9, 2024: Genetec's "2025 State of the Physical Security Report" reveals a strong shift towards hybrid cloud adoption, with 43% of end users preferring hybrid deployments over the next five years. This trend highlights the growing demand for flexible and scalable security solutions that balance operational needs, budget, and storage requirements, while also emphasizing IT departments' increased influence in the deployment of physical security systems.

T able o f Contents - Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Physical Security Customer Segmentation, by Region (2023)

5.2 Physical Security Regulatory Impact (Historic and Future)

5.3 Physical Security Customer Satisfaction and Adoption Rates (2023)

5.4 Customer Retention Rates

6. Competitive Landscape

7. Physical Security Market Segmentation, by Component

8. Physical Security Market Segmentation, by Size

9. Physical Security Market Segmentation, by End Use

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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https://menafn.com/1108994790/Physical-Security-Market-Set-To-Reach-USD-20081-Billion-By-2032-Driven-By-Rising-Security-Concerns-And-Increased-Infrastructure-Protection-Needs-SNS-Insider
2024-12-15
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(MENAFN - GlobeNewsWire - Nasdaq) A key driver of the physical security market is the increasing global concerns over security threats, including terrorism, theft, and vandalism.Austin, Dec. 15, ...
Physical Security Market Set To Reach USD 200.81 Billion By 2032, Driven By Rising Security Concerns And Increased Infrastructure Protection Needs | SNS Insider