The report segments the global physical security market by end-user (commercial and residential), by type (hardware and software and service), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global physical security market, according to Technavio ICT researchers:
- Increase in domestic and international security threats: a major market driver
- Integration of IoT in physical security: emerging market trend
- The Americas dominated the global physical security market with approximately 44% share in 2017
- In 2017, the hardware and software sector held the largest share in the market
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
Increase in domestic and international security threats: a major market driver
The increase in domestic and international security threats is one of the major factors driving the global physical security market. In the recent years, there has been an increase in the incidences of terrorist attacks and theft of data as well as shoplifting, which causes loss to retailers and organizations. The loss of data from organizations can be catastrophic as it includes the financial and strategic data. Surveillance devices assist in tracking the people involved in thefts and criminal activities. Therefore, the market is witnessing the increased adoption of monitoring solutions to prevent unauthorized intrusion of property and information. Therefore, an increase in security threats is a major driver for the physical security market during the forecast period.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Integration of IoT in physical security: emerging market trend
IoT is a technology that assists in accessing physical objects via the internet. IoT connects a wide range of objects ranging from sensor-powered microcontrollers to devices powered by processors. These objects are interconnected in a way, which makes it suitable to collect and analyze data in real-time. Therefore, IoT connects objects or things that can be accessed anytime and from anywhere.
According to a senior analyst at Technavio for research on IT security, “IoT is used for wireless video surveillance for capturing videos and transmitting them to the devices over the wireless network. This aids in getting immediate responses for real-time decision-making. The rising demand for improving the efficiency of places such as waste management plants, energy plants, and water management plants will contribute to the increasing installation of IoT-based physical security devices.”
Global market opportunities
In terms of regional dominance, the Americas led the global physical security market with a share of approximately 44%. During the forecast period, the market share of the Americas is predicted to decrease due to the declining use of physical security in North America. This region was an early adopter of physical security because of which it has reached a saturation point. This has led to decreased spending on existing surveillance and security devices. However, the market share of Europe is anticipated to increase during the forecast period because of the increase in public-sector spending.
Big savings with Technavio this February!
Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 10,000 reports and counting, covering 800 technologies, spanning across 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.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.