Dublin, June 23, 2022 (GLOBE NEWSWIRE) -- 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. Among, larger firms, critical infrastructure and critical information industries are the major adopters of physical security solutions and services. For example, Manitoba Hydro, the major energy utility company in the province of Manitoba, Canada, upgraded to Genetec Security Center for video surveillance, access control, and intrusion detection. physical security governance laws in the region also support a drive to boost the adoption rate of physical security solutions among large enterprises.
1 Introduction 2 Research Methodology 3 Executive Summary
4 Premium Insights 4.1 Brief Overview of the Physical Security Market 4.2 Market, by System, 2021 4.3 Market, by Vertical, 2021 4.4 Market Investment Scenario
5 Market Overview and Industry Trends 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Rising Instances of Terrorist Activities and Security Breaches to Physical Systems 5.2.1.2 Increasing Use of IP-Based Cameras for Video Surveillance 5.2.1.3 Increasing Adoption of 'As a Service' Model 5.2.1.4 Increasing Cyber Threats to Physical Security Systems 5.2.2 Restraints 5.2.2.1 Violation of Privacy 5.2.2.2 Considerable False Alarm Rates 5.2.2.3 Lack of Efficient Storage and Data Management Capacities 5.2.3 Opportunities 5.2.3.1 Digital Transformation Enabled by Video Security Systems 5.2.3.2 Integration of Technologies, Such as Ai, Ml, and Analytics, in Physical Security 5.2.3.3 Adoption of Iot-Based Security Systems with Cloud Computing Platforms 5.2.3.4 Convergence of Multiple Physical Security Systems 5.2.4 Challenges 5.2.4.1 Integration of Logical and Physical Components of Security Systems 5.2.4.2 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 5.4 Ecosystem 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 6.1 Introduction 6.2 Systems 6.2.1 Systems: Market Drivers 6.2.2 Systems: COVID-19 Impact 6.3 Services 6.3.1 Services: Market Drivers 6.3.2 Services: COVID-19 Impact
7 Physical Security Market, by System 7.1 Introduction 7.2 Physical Access Control System 7.2.1 Physical Access Control Systems: Market Drivers 7.2.2 Physical Access Control Systems: COVID-19 Impact Drivers 7.2.3 Locks 7.2.3.1 Mechanical Locks 7.2.3.2 Electronic Locks 7.2.4 Biometrics 7.2.4.1 Fingerprint Recognition 7.2.4.2 Facial Recognition 7.2.4.3 Other Biometrics 7.2.5 Smart Cards and Readers 7.2.6 Access Control Software 7.3 Video Surveillance Systems 7.3.1 Video Surveillance Systems: Physical Security Market Drivers 7.3.2 Video Surveillance Systems: COVID-19 Impact Drivers 7.3.3 Cameras 7.3.3.1 Analog Cameras 7.3.3.2 Ip Cameras 7.3.4 Recorders 7.3.4.1 Digital Video Recorders 7.3.4.2 Network Video Recorders 7.3.5 Video Analytics Software 7.3.5.1 Video Management Software 7.4 Perimeter Intrusion Detection and Prevention 7.4.1 Perimeter Intrusion Detection and Prevention: Physical Security Market Drivers 7.4.2 Perimeter Intrusion Detection and Prevention: COVID-19 Impact Drivers 7.5 Physical Security Information Management 7.5.1 Physical Security Information Management: Market Drivers 7.5.2 Physical Security Information Management: COVID-19 Impact Drivers 7.6 Physical Identity Access Management 7.6.1 Physical Identity Access Management: Physical Security Market Drivers 7.6.2 Physical Identity Access Management: COVID-19 Impact Drivers 7.7 Security Scanning, Imaging, and Metal Detection 7.7.1 Security Scanning, Imaging, and Metal Detection: Market Drivers 7.7.2 Security Scanning, Imaging, and Metal Detection: COVID-19 Impact Drivers 7.8 Fire and Life Safety 7.8.1 Fire and Life Safety: Market Drivers 7.8.2 Fire and Life Safety: COVID-19 Impact Drivers
8 Physical Security Market, by Service 8.1 Introduction 8.2 Managed Services 8.2.1 Managed Services: Market Drivers 8.2.2 Managed Services: COVID-19 Impact Drivers 8.3 Professional Services 8.3.1 Professional Services: Market Drivers 8.3.2 Professional Services: COVID-19 Impact
9 Physical Security Market, by Organization Size 9.1 Introduction 9.2 Small and Medium-Sized Enterprises 9.2.1 Small and Medium-Sized Enterprises: Market Drivers 9.2.2 Small and Medium-Sized Enterprises: COVID-19 Impact 9.3 Large Enterprises 9.3.1 Large Enterprises: Market Drivers 9.3.2 Large Enterprises: COVID-19 Impact
10 Physical Security Market, by Vertical 10.1 Introduction 10.2 Banking, Financial Services, and Insurance 10.2.1 Banking, Financial Services, and Insurance: Market Drivers 10.2.2 Banking, Financial Services, and Insurance: COVID-19 Impact 10.3 Government 10.3.1 Government: Physical Security Market Drivers 10.3.2 Government: COVID-19 Impact 10.4 Retail 10.4.1 Retail: Market Drivers 10.4.2 Retail: COVID-19 Impact 10.5 Transportation 10.5.1 Transportation: Market Drivers 10.5.2 Transportation: COVID-19 Impact 10.6 Residential 10.6.1 Residential: Physical Security Market Drivers 10.6.2 Residential: COVID-19 Impact 10.7 Telecom and It 10.7.1 Telecom and It: Market Drivers 10.7.2 Telecom and It: COVID-19 Impact 10.8 Other Verticals
11 Physical Security Market, by Region
12 Competitive Landscape 12.1 Overview 12.2 Historical Revenue Analysis 12.3 Market Share Analysis of Leading Players 12.4 Market Structure 12.5 Ranking of Key Players 12.6 Competitive Scenario 12.6.1 Recent Developments 12.7 Market Evaluation Framework 12.8 Company Evaluation Quadrant 12.8.1 Company Evaluation Quadrant Definitions and Methodology 12.9 Competitive Benchmarking 12.9.1 Company Footprint 12.10 Competitive Leadership Mapping 12.10.1 Stars 12.10.2 Emerging Leaders 12.10.3 Pervasive Players 12.10.4 Participants 12.11 Startup/SME Evaluation Quadrant 12.11.1 Progressive Companies 12.11.2 Responsive Companies 12.11.3 Dynamic Companies 12.11.4 Starting Blocks
13 Company Profiles 13.1 Introduction 13.2 Key Players 13.2.1 Adt 13.2.2 Cisco 13.2.3 Honeywell 13.2.4 Johnson Controls 13.2.5 Telus 13.2.6 Anixter (Wesco) 13.2.7 Genetec 13.2.8 Bosch Building Technologies 13.2.9 Hid Global 13.2.10 Pelco 13.2.11 Hikvision 13.3 Other Players 13.3.1 Gallagher 13.3.2 Secom 13.3.3 Allied Universal 13.3.4 Zhejiang Dahua Technology 13.3.5 Stanley Security 13.3.6 Axis Communications 13.3.7 Hanwha Techwin America 13.3.8 Teledyne Flir 13.3.9 Hexagon Ab 13.3.10 General Dynamics 13.3.11 Bae Systems 13.3.12 Huawei 13.3.13 Nec 13.4 Start-Ups 13.4.1 Qognify 13.4.2 Smartcone Technologies 13.4.3 Verkada 13.4.4 Iotas 13.4.5 Cloudastructure
For more information about this report visit https://www.researchandmarkets.com/r/sb534n
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