PUNE, India, March 23, 2017 /PRNewswire/ --
The Physical Security Market size is projected to reach USD 112.43 Billion by 2021 from USD 69.63 Billion in 2016, growing at a CAGR of 10.1% while the system segment is estimated to dominate the market during the forecast period & North America will dominate the Physical Security Market.
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The physical security market is projected to grow from USD 69.63 billion in 2016 to USD 112.43 billion by 2021, at a CAGR of 10.1% between 2016 and 2021. The market is expected to witness significant growth in near future, owing to the need to protect business assets, employees, and customers against rising incidences of terror attacks. Increasing use of internet of things (IoT) and smart technologies also expected to drive the growth of the physical security market. Lack of correlation among security solutions can acts as a restraint for the growth of the physical security market.
Based on type, the system segment of the physical security market is estimated to dominate the market during the forecast period. The increasing concern for safety and security is expected to drive the demand for physical security system market. The rising incidences of terrorism & cyber-attacks are also contributing to the growth of this segment.
Based on service, the designing & consulting service segment of the physical security market is estimated to witness highest growth during the forecast period. The growing demand to improve security measures to protect the assets of organizations is expected to fuel the growth of the designing & consulting service segment.
Major vendors that offer Physical Security industry globally are Anixter International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Tyco International PLC (Ireland), Bosch Security Systems, Inc. (Germany), ADT Corporation (U.S.), Genetec Inc. (Canada), Honeywell International, Inc. (U.S.), Pelco (U.S.), Stanley Security (U.S.), Senstar Corporation (Canada)
Order a copy of Physical Security Market by Type (System (Access Control, Video Surveillance, PSIM, Perimeter Intrusion Detection & Prevention, Security Scanning, Imaging & Metal Detection, Fire & Life Safety), & Service), Vertical, and Region - Global Forecast to 2021 research report at
North America is projected to dominate the physical security market during the forecast period, owing to the high adoption of physical security solutions and services across various industries, such as transportation, commercial buildings, government & defense areas, and critical infrastructures, such as nuclear plants, chemical industries, and oil & gas facilities across the region. The Asia-Pacific physical security market is expected to witness highest growth during the forecast period, due to the increased incidences of terror attacks in this region.
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