Physical Security Market Size to Grow by USD 62.75 Billion Due to Increasing Concerns About Terrorism and Crime | #emailsecurity | #phishing | #ransomware


NEW YORK, Aug. 3, 2022 /PRNewswire/ — The “Physical Security Market by Type and Geography – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.

Technavio has announced its latest market research report titled Physical Security Market by Type and Geography – Forecast and Analysis 2022-2026

The potential growth difference for the physical security market between 2021 and 2026 is USD 62.75 billion, as per the latest market analysis report by Technavio. The market is anticipated to witness an accelerating growth momentum at a CAGR of 9.4%. The analysts at Technavio have categorized the global physical security market as a part of the global IT consulting and other services market within the global IT services market. Our report provides extensive information on the value chain analysis for the physical security market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

For insights on market scope and parent market analysis, Read FREE Sample Report.

Key Market Dynamics:

  • Increasing concerns about terrorism and crime to boost the market growth
    Modern cities are exposed to the threat of crimes and terrorism due to the rapid growth in population combined with socioeconomic factors such as joblessness among the youth. Terrorism and crime incidents are not limited to developing economies; the number of such incidents is also rising in developed economies. Hence, businesses, as well as commercial and residential complexes, are employing physical security solutions, which involve video surveillance, access control, and others.

  • High initial investments to emerge as a key threat
    The new entrants to the market require a large amount of initial investment for the basic IT infrastructure of physical security solutions. An initial IT infrastructure investment can cost up to tens of thousands of dollars, which is difficult for certain companies to bear. Therefore, there are fewer new entrants in the industry. Since there are a number of new physical security technologies that are coming up, there would be an increasing need for updated professional expertise. If professional expertise does not exist, organizations invest plenty of resources in training personnel.

Key Market Dynamics and their Impact Analysis is available at Technavio. Request for Sample Now!

Market Segment Analysis

The physical security market report is segmented by Type (Hardware and software and Services) and Geography (North America, Europe, APAC, South America, and the Middle East and Africa).

Revenue-generating Segment Analysis

The hardware and software segment held the largest physical security market share in 2021. The segment will continue to account for the highest revenue throughout the forecast period. The growth of this segment can be attributed to the investments made by vendors in the market in hardware and software that are higher than that in services. An increase in loss resulting from customer theft, employee theft, poor inventory management, and inefficient operations has compelled retailers to invest in electronic article surveillance systems as part of a well-managed and well-executed loss prevention plan.

Regional Analysis

33% of the market’s growth will originate from Europe during the forecast period. Germany and UK are the key markets for physical security in Europe. Market growth in this region will be faster than the growth of the market in the North American, MEA, and South American regions. The rise in the crime rate in the country will facilitate the physical security market growth in Europe over the forecast period.

View our sample report for additional insights into the contribution of all the segments and regional opportunities

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FAQs

  • Which is the latest market trend taking the market by the storm?

  • What are some of the most influential market drivers, restraints, and opportunities (DROs)?

  • What are the historical and projected revenue values and CAGR percentage?

  • Which strategic initiatives will influence competitive scenarios and define the market growth potential?

  • Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?

  • Who are the top market share contributors and their latest organizational restructuring plans?

Related Reports:

Internet of Things Security Market by End-user and Geography – Forecast and Analysis 2021-2025: The internet of things (IoT) security market share is expected to increase by USD 83.25 billion from 2020 to 2025.

Cyber Security Market by Deployment, End-user, and Geography – Forecast and Analysis 2021-2025: The market’s growth momentum will accelerate at a CAGR of 14.97%.

Internet Security Market by Solution and Geography – Forecast and Analysis 2022-2026: The internet security market’s growth momentum will accelerate at a CAGR of 10.29% and the market share will increase to USD 23.34 billion from 2021 to 2026.

Email Security Market by Application, Product, and Geography – Forecast and Analysis 2022-2026: The email security market share is expected to increase by USD 2.65 billion from 2021 to 2026, at a CAGR of 9.78%.

Physical Security Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 9.4%

Market growth 2022-2026

$ 62.75 billion

Market structure

Fragmented

YoY growth (%)

8.79

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 33%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ADT Inc., ASSA ABLOY AB, Axis Communications AB, Everbridge Inc., Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., IDEMIA, Johnson Controls International Plc, MOBOTIX AG, Panasonic Corp., Robert Bosch GmbH, Salient Systems Corp., Schneider Electric SE, SECOM Plc, Securitas AB, Siemens AG, Sohgo Security Services Co. Ltd., Stanley Black and Decker Inc., and Teledyne Technologies Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Type

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/

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Technavio (PRNewsfoto/Technavio)

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