The Physical Security Global Market Report 2023 by The Business Research Company, provides physical security market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032
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According to The Business Research Company’s Physical Security Global Market Report 2023, the market size is expected to grow from $109.96 billion in 2022 to $117.90 billion in 2023 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global physical security market is expected to grow to $152.73 billion in 2027 at a CAGR of 6.7%.
The increasing incidents of terrorist attacks are expected to boost the growth of the physical security market going forward. A terrorist attack refers to the use of violence or threats to instill fear among a large audience. Physical security provides robust security by preventing the unauthorized access of terrorists and will help in minimizing terror attacks, as a result, increasing incidents of terrorist attacks are expected to boost the physical security market.
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The physical security market is segmented:
1) By Component: Systems, Services
2) By Organization Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3) By End-User: Transportation, Government, Banking And Finance, Utility And Energy, Residential, Industrial, Retail, Commercial, Hospitality, Other End Users
Technological advancement is the key trend gaining popularity in the physical security market. Major companies operating in the physical security market are focusing on developing technologically advanced security systems to sustain their position in the market. For instance, in February 2022, Tuchware, an India-based electronics company launched the Smart Lock vendor, XS series which comes with a hotel management software hotel-XS. The unique feature includes an integrated door lock card management interface in addition to other hotel administration functions such as booking management, personnel management, inventory management, and invoicing. The smart lock is specially created with a single body of stainless steel 304 grade as opposed to mild steel or aluminum alloys, making it the most durable option on the Indian market.
Top 5 Major Key Players Are:
ADT Inc
Cisco Systems Inc
Honeywell International Inc
Johnson Controls
Anixter Inc
Table Of Contents
1. Executive Summary
2. Physical Security Market Characteristics
3. Physical Security Market Trends And Strategies
4. Physical Security Market – Macro Economic Scenario
5. Physical Security Market Size And Growth
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26. Africa Physical Security Market
27. Physical Security Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Physical Security Market
29. Physical Security Market Future Outlook and Potential Analysis
30. Appendix
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