San Francisco, California, January 25, 2018: More than ever, there is intensifying need for preventing theft of mobile devices, including hardware, vandalism, and unauthorized access into enterprise areas, apart from implementing administrative and technical controls. The rising incidence of physical breaches in various public and private organizations in various parts of the world is a prominent trend driving the demand for physical security measures and controls. The marked portability of mobile devices USB drives, laptops, and tablets and the growing complexity of technology are crucial factors bolstering the demand for physical security measures and controls.
A new report by TMR Research, titled, “Physical Security Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025”, offers a critical and detailed assessment of various factors and trends impacting the growth trajectory of the market. The study provides insights into the share and size of prominent segments, adoption trends, recent technological advances in various regions, promising avenues, and the competitive landscape.
The growing incidents of firebreaks, floods, and natural disasters leading to breaches of physical security has also propelled the demand for countermeasures, such as putting obstacles at physical sites. The market is increasingly being boosted by the rising adoption of physical security measures against protecting personnel, data, systems, facilities, networks, equipment, and enterprise assets.
The rising relevance of crime prevention through environmental design is a striking trend aiding in the expansion of the physical security market. Furthermore, the rise of smart city initiatives in several developing and developed economies is providing a sustained impetus to the growth of the market. In addition, the substantial adoption of IP-based surveillance cameras is a notable factor accentuating the growth. Technological advances in technical controls, such as making smart cards less vulnerable to hacks, augurs well for players.
The consolidation of intrusion detection systems, including guards, in a growing number of corporate organizations is a significant factor boosting the market. The adoption of advanced smoke, heat, and gas detection systems in organizations in a number of developing economies is contributing to the market’s expansion over the forecast period.
The increasing adoption of disaster recovery policies and procedures in organizations augurs well for the overall physical security market. However, the lack of compatibility among various physical security solutions and limited options for integrating physical and logical aspects of security are factors likely to cripple the growth of the market. Nevertheless, the rising adoption of internet of things (IoT) is anticipated to widen the horizon of the physical security market. The proliferation of IoT devices will open promising opportunities for market players. Furthermore, the adoption of additional safeguards, such as deploying advanced motion sensors and other mission critical devices, is further expected to impel the growth of the market.
Regionally, North America has been witnessing substantial growth in recent years and is expected to account for a significant share over the assessment period. The vast demand for physical security is bolstered by the rising number of illegal activities, rising menace of terrorism, and a rise in criminal activities in the various parts of the region. The advent of advanced technologies is also accentuating the growth of this regional market.
Meanwhile, Asia Pacific is projected to rise at a prominent pace. The growth will be supported by a massive rise in investment in physical security measures from small and large organizations alike. Economies at the forefront of the market can be India, China, Australia, and Japan.
A number of players are focused on expanding their product portfolio to consolidate their market shares in the coming years. Key players operating in the market include ADT Security Services, Anixter International Inc., Tyco International PLC, Stanley Security Solutions Ltd., Honeywell International, Inc., Genetec Inc., Cisco Systems, Inc., Senstar Corporation, Pelco, and Bosch Security Systems, Inc.
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