Physical Security Market

The global physical security market size is projected to grow from USD 110.2 billion in 2023 to USD 136.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period. The expansion of the physical security market is being propelled by Rising instances of terrorist activities and security breaches to physical systems.

Major Physical Security Companies Include

• Johnson Controls (Ireland)
• Bosch Building Technology (Germany)
• Honeywell (US)
• ADT (US)

Increasing use of IP-based cameras for video surveillance has also played a significant role in driving the adoption of physical security systems and services as businesses strive to meet security requirements. Additionally, megatrends like artificial intelligence and IoT security are emerging in the physical security market. Together, these factors form a powerful force behind the growth and advancement of the physical security market.

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What is physical security?

Physical security limits physical access by unauthorized individuals in controlled facilities to prevent damage to valuable hardware, software, network infrastructure, and other assets. Physical security encompasses security measures to protect against internal and external physical hazards (natural disasters, fire, theft, burglary, vandalism, and terrorist attacks) in physical areas such as campuses, buildings, banks, and offices.

Competitive overview:

The physical security market is led by some of the globally established players, such as Johnson Controls (Ireland), Bosch Building Technology (Germany), Honeywell (US), ADT (US), Cisco (US), Telus (Canada), Wesco (US), Genetec (Canada), and HID Global (US). Partnerships, agreements, collaborations, product developments, and acquisitions are some of the various growth strategies by these players to increase their market presence.

Cisco Systems, Inc. is a renowned multinational technology company headquartered in San Jose, California. Founded in 1984, Cisco has become a global leader in the networking hardware, software, and telecommunications equipment industries. The company’s main areas of concentration include developing, producing, and marketing a wide variety of goods and services that enable seamless data, voice, and video communication over different networks. With its range of products, including routers, switches, security solutions, teamwork tools, and cloud-based services, Cisco has played a key role in the growth of the Internet and the development of contemporary networking technology. With a strong focus on innovation, Cisco keeps reshaping the digital environment and enabling people, organizations, and governments to connect, cooperate, and prosper in the digital era.

The business focuses on offering IP-based products and services to the Information and Communication Technology (ICT) sector. Networking, wireless and mobile, security, collaboration, data center, analytics, video, Internet of Things, and software are among the products and services it provides. Its wide range of physical security products includes IP cameras, video surveillance platforms, software, access control, and incident response. Its ongoing investment in R&D, which allows advancements in high-quality products and services, places it among the best physical security firms. Technical support and cutting-edge services are among its service offerings.

Johnson Controls International plc is a leading global provider of diverse technology and multi-industrial products. Johnson Controls has a long history of developing ground-breaking solutions for the construction, energy-efficient, and automotive sectors. The company offers products and services pertaining to security, fire detection, suppression, and life safety. It sells physical security products and services under the following brand names: Tyco, SimplexGrinnell, Sensormatic, Ansul, Simplex, Scott and ADT, Software House, Visonic, Chemguard, and Exacq. Through the global products segment, the company designs manufactures and sells fire protection, security, and life safety products, including intrusion security systems, anti-theft devices, breathing apparatus, and access control and VMS, for its customers in the commercial, industrial, retail, residential, education, and government sectors worldwide. This segment also includes the products installed and serviced by its integrated solutions and services. Some of the key subsidiaries of the company in the physical security market are ADT Security Services S.A. (Argentina), Tyco Fire & Security (Australia), and Exacq Technologies, Inc. (US).

Honeywell International Inc. is a globally renowned technology conglomerate with its headquarters in Charlotte, North Carolina. With operations in various sectors, including aircraft, building technology, performance materials, and safety solutions, Honeywell has developed into a diverse Fortune 100 corporation. The corporation offers a wide range of cutting-edge goods and services, from aircraft engines, avionics, and aerospace systems to home and building automation, industrial automation, and safety technologies. The firm offers a comprehensive range of security and home control systems, wireless devices, alarm communications and total connect sensors, control panels, keypads, expansion modules, and accessories. Its offerings for video surveillance include cameras, encoders, analog parts, recording devices, hosted video services, systems, and system add-ons, as well as advanced analytics programs.

According to MnM’s approach to evaluating the market, most businesses use various organic and inorganic growth tactics to hold onto their market share. In 2020–2022, transactions rose by 50–60%. Alliances, acquisitions, collaborations, and partnerships together are covered in these agreements. Organizations are anticipated to embrace organic growth strategies starting in 2022 to provide end consumers with physical security systems and services, which would assist businesses in boosting market revenue.

Related Reports:

Physical Security Market by Component, System (Physical Access Control System, Video Surveillance System, and Perimeter Intrusion Detection and Prevention), Service, Organization Size, Vertical (BFSI and Healthcare) and Region - Global Forecast to 2028