What Has Been the Progress and Growth of the Physical Security Market in Recent Years?
The physical security market has seen considerable growth due to a variety of factors.
• Over recent years, the market size of physical security has significantly expanded. Projected estimates show an increase from $122.5 billion in 2024 to $129.36 billion in 2025, representing a compound annual growth rate (CAGR) of 5.6%.
This ascent during the historical period can be traced back to robust economic development in newly emerged markets, heightened usage of mobile surveillance technology systems, a rise in the number of terrorist attacks, and increased adoption of Internet Protocol (IP) based cameras for video surveillance.
What Does the Future Hold for the Physical Security Market?
The physical security market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for significant expansion of the physical security market in the coming years are high, with projections predicting a growth to $182.34 billion by 2029, representing a compound annual growth rate (CAGR) of 9.0%.
Factors propelling this growth over the forecast period include a surge in global population and urbanization, the integration of video surveillance systems with access control systems, and the affordability of video surveillance as a service (VSaaS). The forecast period also anticipates some key trends like the introduction of innovative technologies such as 3D digital light detection and ranging (lidar), along with the development of new product solutions to secure market position. Moreover, there will be an increased inclination towards cloud-based security solutions for safer workplaces, centralized security operations, and real-time monitoring. Greater emphasis is also projected on product upgradation and the development of new products with a special focus on access management and touchless technology. Furthermore, the use of artificial intelligence (AI), strategic collaborations, and acquisitions for enhanced financial strength, product diversity, and geographical reach are also projected. Lastly, the expanding scope of the Internet of Things (IoT) is expected to disrupt current physical security standards by providing real-time security alerts.
What Main Forces Are Fueling Expansion In The Physical Security Market?
The escalating prevalence of terrorist attacks is anticipated to support and catalyze the expansion of the physical security market in the future. The term terrorist attack pertains to acts of violence or threats designed to invoke fear among a large group of people. Physical security, by hindering terrorists from unauthorized access, assists in decreasing terror attacks, thereby contributing to the growth of its market. Illustratively, ReliefWeb, an American non-governmental organization, reported in March 2023 that the average fatalities per terrorist attack rose from 1.3 in 2021 to 1.7 in 2022. This is the first instance of a rise in the fatality rate over the past half-decade. Consequently, the escalating prevalence of terrorist attacks is stimulating the expansion of the physical security market.
What Are The Primary Segments In The Global Physical Security Market?
The physical security market covered in this report is segmented –
1) By Component: Systems, Services
2) By Organization Size: Small And Medium-Sized Enterprises(SMEs), Large Enterprises
3) By End-User: Transportation, Government , Banking And Finance, Utility And Energy, Residential, Industrial, Retail, Commercial, Hospitality, Other End Users
Subsegments:
1) By Systems: Video Surveillance Systems, CCTV Cameras, IP Cameras, Video Management Software, Access Control Systems, Card-Based Systems, Biometric Systems, Electronic Locks, Intrusion Detection Systems, Alarm Systems, Motion Sensors, Perimeter Security Systems, Fire Safety Systems, Fire Alarms, Fire Suppression Systems, Integrated Security Systems, Unified Security Platforms
2) By Services: Consultation Services, Security Assessment And Planning, Risk Analysis, Installation Services, Equipment Installation, System Configuration, Monitoring Services, Remote Monitoring, Alarm Response Services, Maintenance Services, Routine Inspections, Repair Services, Training Services, User Training On Security Systems, Emergency Response Training
Pre-Book The Physical Security Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Key Trends Are Driving Changes In The Physical Security Market Size?
The primary trend making waves in the physical security market is technological innovation. Major players in the market are concentrating their efforts on creating technologically superior security systems to maintain their market dominance. An example of this trend can be seen in February 2022 when Tuchware, an electronics company based in India, introduced the Smart Lock vendor, XS series. This product, bundled with a hotel management software hotel-XS, presents unique features such as an integrated door lock card management interface complimented by other administrative functions for hotels like booking, personnel, stock management, and billing. The innovative smart lock, uniquely crafted from stainless steel 304 grade instead of the usual mild steel or aluminum alloys, positions itself as the most enduring product in the Indian market.
Who Are the Key Players in the Physical Security Market?
Major companies operating in the physical security market include:
• Hangzhou Hikvision Digital Technology Co. Ltd
• Allied Universal
• SECOM Co Ltd
• ADT LLC
• Axis Communications AB
• Honeywell International. Inc.
• Dahua Tech
• Stanley Convergent
• Zicom Electronic Security Systems
• Godrej Security Solutions
• Samsung Techwin
• Sony Corporation
• Panasonic Corporation
• Safety Systems
• Genetec
• Bosch Security
• Milestone Systems
• Vanderbilt Industries
• Nedap Security Management
• Avigilon
• G4S Secure Solutions
• Prosegur Compañía de Seguridad
• S.A
• Securitas AB
• Salto Systems
• Paxton Access
• ABAX Systems Sp. z o.o
• SATEL S.A.
• ELDES Sp. z o.o
• MICRONIX s.r.o
• 2N Telekomunikace a.s
• AxxonSoft
• Intelligent Security System
• Beward Co
• Securitas Romania
• SSC Security Services Corp
• Paragon Security Verkada Inc
• Ajax Systems
• Ava Security
• Cloudvue
• Evolv Technology
• Securiguard
• Farnek Services LLC
• Safeway Security Services
• Grupo GR
• Brink's
• VIPSEG
• Grupo Forteseg
• Fidelity Services Group
• Halogen Security Company Limited
• Bemil Nigeria Limited
• Proton Security Services
• Securex Agencies Limited
What Is The Most Dominant Region In The Physical Security Market?
North America was the largest region in the physical security market in 2024. The regions covered in the physical security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
