Physical Security Market worth $136.9 billion by 2028, growing at a CAGR of 4.4%
Physical Security Market by Component, System (Physical Access Control System, Video Surveillance System, and Perimeter Intrusion Detection and Prevention), Service, Organization Size, Vertical (BFSI and Healthcare) and Region - Global Forecast to 2028
(EMAILWIRE.COM, October 25, 2024 ) The global physical security market size is projected to grow from USD 110.2 billion in 2023 to USD 136.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period.
The growth in the use of IP-based cameras for video surveillance and the rise in instances of malicious activities and security breaches to physical systems drive the growth of the physical security market. Moreover, difficulties addressing the complexity of advanced threats may hinder market growth.
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Physical Security Market Dynamics:
Drivers:
Rising instances of malicious activities and security breaches to physical systems
Global Number Of Terrorist Attacks, 2011 & 2021
Growing use of IP-based cameras for video surveillance
Higher adoption of & as a service & model
Increasing cyber threats to physical security systems
Restraints:
Considerable false alarm rates
Violation of privacy
Lack of efficient data storage and management capacities
Opportunities:
Integration of technologies in physical security
Digital transformation enabled by video security systems
Adoption of IoT-based security systems with cloud computing platforms
Convergence of multiple physical security systems
List of Key Players in Physical Security Market:
Johnson Controls (Ireland)
Bosch Building Technology (Germany)
Honeywell (US)
ADT (US)
Cisco (US)
Telus (Canada)
Wesco (US)
Genetec (Canada)
HID Global (US)
Pelco (US)
Hikvision (China)
The growth of the physical security market is being driven by several factors. These include Rising instances of terrorist activities and security breaches to physical systems and Increasing use of IP-based cameras for video surveillance. The promising growth of the physical security market can be attributed to various factors, including the Integration of technologies, such as AI, ML, and analytics, in physical security.
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Trend: Artificial Intelligence/ Machine Learning
Security solutions based on data-driven ML and AI are the emerging trends in the physical security market. The market for physical security has witnessed an increase in security solutions based on data-driven ML and AL. Today's surveillance cameras integrate AI and deep learning to increase the accuracy and dependability of security. For instance, Hangzhou Hikvision Digital Technology (China) introduced the DeepinView Camera Series, which made use of the deep learning function to deliver precise and reliable Video Content Analytics (VCA) performance.
Physical security system capabilities have been significantly improved with the use of ML. Security systems can now learn from data, observe trends, and make quick judgments because of ML algorithms. Monitoring camera data may be automatically analyzed to find and identify objects, persons, vehicles, and strange behaviors. Such advancements minimize the effort of human operators and aid with real-time threat detection. Similarly, Security systems are now able to identify and verify persons based on their facial traits with the help of ML-based facial recognition technology. The technology is employed for entryway security, suspect identification, and access control.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
The growth in the use of IP-based cameras for video surveillance and the rise in instances of malicious activities and security breaches to physical systems drive the growth of the physical security market. Moreover, difficulties addressing the complexity of advanced threats may hinder market growth.
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1014&utm_source=emailwire.com&utm_medium=paidpr&utm_campaign=physical-security-market
Physical Security Market Dynamics:
Drivers:
Rising instances of malicious activities and security breaches to physical systems
Global Number Of Terrorist Attacks, 2011 & 2021
Growing use of IP-based cameras for video surveillance
Higher adoption of & as a service & model
Increasing cyber threats to physical security systems
Restraints:
Considerable false alarm rates
Violation of privacy
Lack of efficient data storage and management capacities
Opportunities:
Integration of technologies in physical security
Digital transformation enabled by video security systems
Adoption of IoT-based security systems with cloud computing platforms
Convergence of multiple physical security systems
List of Key Players in Physical Security Market:
Johnson Controls (Ireland)
Bosch Building Technology (Germany)
Honeywell (US)
ADT (US)
Cisco (US)
Telus (Canada)
Wesco (US)
Genetec (Canada)
HID Global (US)
Pelco (US)
Hikvision (China)
The growth of the physical security market is being driven by several factors. These include Rising instances of terrorist activities and security breaches to physical systems and Increasing use of IP-based cameras for video surveillance. The promising growth of the physical security market can be attributed to various factors, including the Integration of technologies, such as AI, ML, and analytics, in physical security.
Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1014&utm_source=emailwire.com&utm_medium=paidpr&utm_campaign=physical-security-market
Trend: Artificial Intelligence/ Machine Learning
Security solutions based on data-driven ML and AI are the emerging trends in the physical security market. The market for physical security has witnessed an increase in security solutions based on data-driven ML and AL. Today's surveillance cameras integrate AI and deep learning to increase the accuracy and dependability of security. For instance, Hangzhou Hikvision Digital Technology (China) introduced the DeepinView Camera Series, which made use of the deep learning function to deliver precise and reliable Video Content Analytics (VCA) performance.
Physical security system capabilities have been significantly improved with the use of ML. Security systems can now learn from data, observe trends, and make quick judgments because of ML algorithms. Monitoring camera data may be automatically analyzed to find and identify objects, persons, vehicles, and strange behaviors. Such advancements minimize the effort of human operators and aid with real-time threat detection. Similarly, Security systems are now able to identify and verify persons based on their facial traits with the help of ML-based facial recognition technology. The technology is employed for entryway security, suspect identification, and access control.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Rohan Salgarkar
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Rohan Salgarkar
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results