Physical security is defined as security providing equipment that are specifically designed to safeguard people, institution, enterprise, property, equipment, facilities & resources from theft/robbery/terrorist attack or any other physical damage that can cause harm/loss. Physical security consists of multiple layers of interdependent systems that include: fire protection, cctv surveillance, protective barriers, prisons, fire protection, perimeter intrusion detection, locks, access control, software protection systems, smoke detection sensors, heat sensors. The physical security aids in protection from: floods, natural disasters, terrorist attacks, theft, fire accidents, burglary and various other threats that can occur.
Physical Security Market: Key Players
The research study includes profiles of leading companies operating in the global physical security market. Key players profiled in the report include: STANLEY, Hangzhou Hikvision Digital Technology Co., Ltd., ADT, Honeywell International, Inc.; Genetec Inc.; Cisco Systems Inc.; Axis Communications AB; Pelco; Robert Bosch GmbH and Johnson Control International Plc.
Drivers for the Global Physical Security Market:
Rising demand of physical security due to increasing security needs by residents & organizations, rising adoption of security systems by the retail, banking, hospitality & various other industries as it enables to monitor the assets & also staff activities, various public amenities & transportation services like: bus stations, airports, railways and seaports are focusing on safeguarding the infrastructure through security layers and increasing smart cities & residential areas are demanding the insertion of cctv cameras to safeguard their property and increasing government regulations in various parts of the world to fine trespassers & rule breakers. Hence these are the major drivers of the market and aid in increasing disposable income & growth of the industry.
Opportunities for the Global Physical Security Market:
Moreover, increasing improvements like: live home monitoring feed on personal devices like smartphones, HD video monitoring across multiple provinces, increasing wireless technologies contain merger of physical & electronic spaces require physical security systems, demand for the development of smart homes attached with the advanced video surveillance & access control systems and increasing monitoring systems are used by parents to keep a check on their kids while they are away from home and increasing terrorist attacks & various other activities like robbery/theft and increasing prevalence of natural calamities which can alert the residential areas & protect them or warn. Hence these factors are going to provide opportunities to aid in the growth of the physical security market.
Restrains for the Global Physical Security Market:
However, due to lack of much use of advanced technologies & synergies used amidst the security solutions, interoperability device issues related to physical security systems, privacy concern against installation of devices and high installation prices. Hence these factors can hamper the growth of the physical security market.
Region Wise, Global Physical Security Market Analysis:
North America held major share in the market due to investment in new technology, adoption of advanced physical security systems, general economic conditions, rising investments by small organization in physical security solutions, increasing residential areas and increasing population as well as economy. Besides Asia-Pacific and Europe held a large share in the market.
Covid-19: Impact and Recovery Analysis for Global Physical Security Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: Physical Security market globally. Most of the industries and businesses like: Physical Security market are shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. The impact on physical security market isn’t more as these devices have been actively used at hospitals & residential areas but on the other hand the supply chain & manufacturing of the devices has been halted due to the shutting down of industries, manufacturing sites and also due to shortage of workforce. But the physical security market is recovering through manufacturing devices like detectors for covid-19, designing of systems that can identify the movement of corona patients so that they do not spread the disease and also various hybrid devices to detect any kind of wrong happenings in public areas like hospitals, parks etc.
Global Physical Security Market: Product analysis
Global Physical Security Market: Application analysis
- Banking & Finance
- Utility & Energy
- Manufacturing & Industrial
Global Physical Security Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East