The latest report on Physical Security Market by Infinium Global Research gives complete coverage of the Physical Security Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Physical Security such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Increase in Terror Activities and Crime Incidences Especially Cybercrime, the Security Breach has Resulted in an Accelerated Demand for the Physical Security Equipment and Services
Physical Security consists of security measures that are designed to deny or block unauthorized access to facilities, equipment, and resources and to protect personnel and property from damage or harm (such as espionage, theft, or terrorist attacks). Physical Security involves the use of multiple layers of interdependent systems that include CCTV surveillance, protective barriers, locks, access control protocols, and many other techniques.
In the past time, physical security market was more dependent on human power compared to electronic and advanced gadgets, but as the technology is evolving, the physical security market is shifting towards more advanced gadgets and technology to provide better security to organizations, entity, and domestic users. The rapid expansion of ATMs, mobile banking functionalities, mobile payments, and online payments has increased the concern for user information management.
The increase in terror activities and crime incidences especially cybercrime, the security breach has resulted in an accelerated demand for the Physical Security equipment and services. The substantial increase in the incidence of terrorist attacks on enterprises, government organizations, and critical infrastructures in recent years have driven companies and governments to implement strong Physical Security policies, in terms of technology and manpower.
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Rise in IP Based Cameras, and the Rise of Digital Systems are Providing Ample Opportunities to the Physical Security Industry
Important infrastructures, such as trade centers, data centers, banks, power, and energy generation plants, enterprise facilities, airports, and railway stations have increased their expenditure on Physical Security solutions and technologies. Physical Security also safeguards proper working in manufacturing industries by avoiding accidents on premises and loss of work hours.
The sophisticated access control systems, internet protocol (IP) video, and biometric solutions are driving the demand for Physical Security solutions. Rapid urbanization, continuous growth in smart cities, reduction in the use of analog cameras and rise in IP based cameras, and the rise of digital systems are providing ample opportunities to the physical security market. Increasing global security concerns and growing budget distributions for Physical Security by governments and private organizations to prevent criminal activities and terrorism are the major factors driving the demand for Physical Security.
In addition, rules and regulations imposed by governments of different countries demanding improved security levels are driving Physical Security in certain end-user sectors including business and industrial organizations. However, the lack of awareness and limited infrastructure are the major factors hindering the growth of the global physical security market in some countries.
North America holds the largest market share of the physical security market, due to the presence of a large number of Physical Security providing companies, and growing incidence of Physical Security threat due to terrorism and cybercrime. Additionally, people are more aware of physical securities problems in this region. Asia-Pacific region is expected to grow at a high CAGR of physical security market in the coming years as a result of continued investments in infrastructure and increasing criminal activities. Additionally, the influx of multinational Physical Security providing companies and growth of security infrastructure as the internet, customized bandwidth for using security equipment are helping to grow this market in this region.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Physical Security.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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