Global Physical Security Market: Overview
Physical security can be defined as securing or protecting the personnel, software, hardware, networks, and data from the actions that are mainly physical or by the events that cause damage or loss to the organization, institution, and agency. The physical actions can include anything from the flood, burglary, vandalism, fire, natural disasters, theft, and terrorism. The loss that occurs from any natural calamity also comes under this. The increase in the demand for the physical security market is owing to the increasing cases of terrorism.
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Global Physical Security Market: Segmentation
The physical security market is segmented globally into type and vertical. On the basis of type, the global market is segregated into system and service. The system segment is sub-segmented into access control, physical security information management, security scanning, imaging & metal detection, fire & life safety, video surveillance, and perimeter intrusion detection & prevention. The service segment is sub-segmented into designing & consulting system integration, and maintenance & support. Based on the vertical, the market is categorized into transportation & logistics, BFSI, retail, hospitality & residential, chemical/pharma, utilities, government, defense & public sector, telecom & it, education, oil, gas & energy, healthcare, and manufacturing.
Global Physical Security Market: Growth Factors
Various business organizations, government agencies, and banks adopt high-tech security devices and improved versions of firewalls which will boost the physical security market. The organizations are compelled to improve their safety standards in order to protect themselves from the threat of terrorism and cyber security. The demand for the physical security will boost in the coming years owing to the investments that are spent on the critical organizations such as airports, data centers, banks, trade centers, enterprise facilities, and government headquarters. The growth of the physical security will be boosted by the rise in the adoption of cloud-based storages of data and data analytics by the institutions that have improved security systems so that the data is safe.
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Global Physical Security Market: Regional Analysis
Geographically, the physical security market is diversified into regions such as North America, Asia-Pacific, Europe, and Rest of the World. The region that dominates the global market of physical security is Asia Pacific. The factor that contributes to this growth is the increasing deployment of the security systems in transportation and public places by the government agencies in the developing regions such as India and China. The others factors such as the growth of the IT sector and the rapid industrialization anticipates the growth of the physical security market. The growth in the North American region is driven by the increased use of the surveillance systems in industrial, banking, and government sectors.
Global Physical Security Market: Competitive Players
The major market players in the physical security market include Honeywell Security Group, EMC Corporation, Cisco Systems Inc. AB, Bosch Security Systems, McAfee Inc. NICE Systems Ltd., Genetec Inc., Axis Communications, Tyco International Ltd., and Morpho S.A.
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