The global physical security market is expected to reach USD 203.05 billion by 2030, growing at a CAGR of 6.1% according to a new study by Grand View Research, Inc. lack of physical security leads to higher rates of burglaries and thefts. Therefore, safeguarding the physical perimeter and individual assets, including expensive technological equipment, has gained importance and is driving the market growth. Increasing awareness about securing the perimeter in developing economies has led to a rise in deployment of IP-based cameras in residential societies as well as commercial complexes and offices. Furthermore, increasing terror threats, border disputes, and refugee crises drive the adoption of stringent safety measures, thereby driving the physical security market growth. For instance, in February 2022, Hangzhou Hikvision Digital Technology Co., Ltd, the world's prominent manufacturer of innovative video surveillance systems and solutions, introduced the TandemVu PTZ camera line, which combines PTZ and bullet camera capabilities into a single unit. These cameras can monitor broad regions and zoom in on individual security incidents while simultaneously maintaining attention on both viewpoints. Further, this camera would be deployed in commercial complexes and residential societies to reduce terror threats and adopt more physical security on the premises. Physical Security Market Segmentation Grand View Research has segmented the global physical security market report on the basis of component, organizational size, end-user and region: Based on the Component Insights, the market is segmented into Systems, Services.
Based on the Organization Size Insights, the market is segmented into SMEs, Large Enterprises.
Based on the End-user Insights, the market is segmented into Transportation, Government, Banking & Finance, Utility & Energy, Residential, Industrial, Retail, Commercial, Hospitality, Others.
Physical Security Regional Outlook
Key Companies Profile & Market Share Insights Market leaders focus on providing diverse solutions to cater to various applications to gain a higher market share. Companies also focus on strategic alliances, mergers, and acquisitions to enhance their product offerings and improve their market share. Some prominent players in the global physical security market include:
Order a free sample PDF of the Physical Security Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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