In a recent published report, Kenneth Research has updated the market report for Physical Security Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Physical Security Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Physical Security Market is estimated to reach $148 billion by 2024; growing at a CAGR of 9.9% from 2016 to 2024. Physical security gives information regarding security measures which are designed to reject unauthorized access to resources, services and equipment and to safeguard personnel and property from harm such as terrorist attacks, theft, flood, and natural disasters. The global physical security market is monitoring technological modification from analog to incorporated IP networked systems. Modifications are video analytics, ubiquitous sensors, power access system, and circulated public-address environment incorporated with smart devices. Increasing security concerns about network, personnel, hardware, and information infrastructure would provide several market growth opportunities in coming years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Increase in terror attack incidences, Increased consumption of internet of Things (IoT), need to guard business assets, employees, and customers, growing expenditure on security of important infrastructure such as government headquarters, banks, airports, trade centers, data centers, and enterprise facilities, advanced technology along with cost effective security systems are the factors boosting the growth of the global physical security market. However, lack of synergy between security solutions and restricted utilization of advanced technologies might hamper the growth. Furthermore, technological advancements in video surveillance and current development of smart cities would provide several market opportunities in the coming years.
The global physical security market is categorized into type, industry vertical and geography. By type, the market is segmented into systems and services. The system segment is further bifurcated into access control, video surveillance, physical security information management, perimeter intrusion detection & prevention, security scanning, imaging & metal detection, and fire & life safety. Services are sub-segmented as system integration, maintenance & support, designing & consulting. By industry vertical, the segmentations are government, defense & public sector, BFSI, education, retail, telecom & IT, oil, gas & energy, transportation & logistics, hospitality & residential, and others.
By geography, the market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France Italy, and others. Asia-Pacific covers China, Japan, India, South Korea, and others. RoW covers South America, Middle East, and Africa.
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The key companies operating in this market include Tyco International Plc., Bosch Security Systems, Inc., Honeywell International, Inc., Pelco, Anixter International Inc., Cisco Systems, Stanley Security Solutions Limited, ADT Corporation, Genetec Inc., and Senstar Corporation among others.
The key takeaways from the report
The report will provide a detailed analysis of Global Physical Security Market with respect to major segments such as type and industry vertical
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Global Physical Security Market from 2015 to 2024 has been included in the report. Profile of the key players in the Global Physical Security Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Physical Security Market
Type Segments:
Systems
Access control
Biometrics
Face Recognition
Fingerprint Recognition
Others
Locks
Electronic Locks
Mechanical Locks
ACaaS
Smart card and Readers
Video surveillance
CCTV
VSaaS
Video Analytics
IP Video surveillance
Physical security Information management
Perimeter Intrusion Detection & Prevention
Security Scanning, Imaging & Metal Detection
Metal Detectors
X-ray Screening
Electronic Inspection Tools
Fire & life safety
Services
Maintenance & Support
System Integration
Designing & Consulting
Industry Vertical Segments
Government, Defense & Public Sector
Retail
Education
BFSI
Telecom & IT
Oil, Gas & Energy
Hospitality & Residential
Transportation & Logistics
Others
Geography Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Other
Asia-Pacific
China
Japan
India
South Korea
Others
RoW
South America
Middle East
Africa
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