Physical security market to grow by $30B in 5 years
(M2 PressWIRE Via Acquire Media NewsEdge) The recent trend in the industry shows that the physical security market is continually improving, and there is a huge demand for physical security solutions and services in almost every industry.
The latest report from Marketsandmarkets forecasts the physical security market to grow from $57.72 billion in 2014 to $87.95 billion by 2019. In terms of regions, North America (NA) and Europe are expected to be the biggest markets in terms of revenue contribution, while Asia-Pacific (APAC) is expected to surpass Europe during the forecast period. Middle East and Africa (MEA) and Latin America (LA) are also expected to experience increased market traction during the forecast period.
Marketsandmarkets mainly focuses on the type of systems and services that are used to provide physical security in the report entitled: "Physical Security Market by System and Services (Access Control, IP Video Surveillance Management Software, Locks, PSIM, Perimeter Intrusion Detection, System Integration, and Designing and Consulting) - Worldwide Forecast & Analysis (2014 - 2019)". The market for physical security has been segmented by security systems such as access controls, biometrics scanners, locks, video surveillance, and physical security information management software and security services such as system integration, support and maintenance, and designing and consulting. This report also enumerates the key factors that are driving growth in this market along with restraints and new opportunities for growth.
In the physical security market, a wide range of products and services, such as video surveillance, access control, biometrics, remote management, technical support, security consulting, are included. Biometrics holds a major share in the products range. Analystis expect that the access control market will continue to grow at a higher pace. The physical security market will witness a good growth trend in developing economies. There will be a rise in the demand for physical security solutions and services in these regions. With an increase in terrorist attacks and sabotages on critical infrastructure zones, the spending on physical security solutions and services will increase in the coming years. Besides, an increase in market acceptance for such solutions and services will be fuelling its growth. End users or consumers are not only looking for various devices, but are also increasingly interested in tailor-made solutions and integrated packages.
Researchers at Marketsandmarkets believe that the recent trend in the industry shows that the physical security market is continually improving, and there is a huge demand for physical security solutions and services in almost every industry. The current services, such as remote management, security consulting, and technical support, are suitable for usage in almost every vertical. Some of the advanced products are next-generation analytics and infinite storage devices. In recent times, there has been continuous innovation in this market. Ubiquitous sensors, smarter devices, and cloud technologies are some of the emerging technologies in the physical security market.
The important vendors in the market for physical security are Anixter, CSC, Cisco, EMC Corporation, HP, Honeywell International, IBM, Genetec, Lockheed Martin, and Schneider Electric. This report on the physical security market provides an in-depth analysis of the key players in tools and services ecosystem with their profiles and recent developments, key issues and opportunities in the market, global adoption trends, and future growth potential.
(c) 2014 M2 COMMUNICATIONS
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