As per the report by MarketsandMarkets, the global physical security market size is projected to reach USD 140.0 Billion in 2028, at a CAGR of 6.4% during the forecast period, 2022-2028
Chicago, May 26, 2023 (GLOBE NEWSWIRE) -- The global Physical Security Market size is expected to grow from USD 102.7 billion in 2021 to USD 140.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 6.4% from 2021 to 2026, according to a new report by MarketsandMarkets™. Physical security provides various benefits such as security from breach, etc.
Browse in-depth TOC on "Physical Security Market"
329 - Tables
51 - Figures
334 - Pages
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Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2017-2028 |
| Base year considered | 2022 |
| Forecast period | 2023–2028 |
| Forecast units | Value (USD Million/USD Billion) |
| Segments covered | Offerings, Services, Solution Type, Threat Type, Security Type, End Use Industry, and Regions |
| Geographies covered | North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
| Companies covered | Major vendors in the global healthcare cybersecurity market include IBM (US), Cisco (US), Palo Alto Networks (US), Check Point (Israel), Fortinet (US), Trend Micro (Japan) and many more. |
Physical security measures are designed to protect buildings, and safeguard the equipment inside. In short, they keep unwanted people out, and give access to authorized individuals. Without physical security, organizations are liable to physical security threats such as theft, vandalism, fraud, and even accidents.
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According to the Penn State University Police and Public Safety, physical security is primarily concerned with restricting physical access by unauthorized people (commonly interpreted as intruders) to controlled facilities.
According to MarketsandMarkets, physical security refers to restricting physical access by unauthorized individuals in controlled facilities to prevent damage to valuable hardware, software, network infrastructure, and other assets. Physical security includes security layers that protect personnel, network, and data in physical spaces, such as campuses, buildings, banks, and offices from internal or external physical threats (natural disasters, fire, theft, burglary, vandalism, and terrorist attacks)
The scope of this report covers the analysis of the physical security market since 2015, based on contemporary market trends and developments, and its potential growth from 2021 to 2026. It provides detailed market trends, vendors’ market shares, market size, forecasts, and analysis of key players in the managed security services overall market. By region, the physical security market in the Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. Countries in the region have been witnessing a significant rise in the adoption of physical security solutions and services. This growth can be attributed to the increase in technological innovations, rapid digitalization, etc. in the region. The physical security market is witnessing high growth opportunities in this region.
Rising instances of terrorist activities and security breaches to physical systems are expected to boost the growth of the physical security market. Additionally, physical security market is expected to witness rapid growth worldwide due to various factors such as increasing use of IP-based cameras for video surveillance and increasing cyber threats to physical security systems.
Frequently Asked Questions (FAQ)
What is the projected market value of the global physical security market ?
The global market of physical security is projected to reach USD 140.0 billion
What is the estimated growth rate (CAGR) of the global physical security market for the next five years?
The global physical security market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2026
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