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The global physical security market is expected to reach a value of USD 125.03 billion by 2019, growing at a CAGR of 14.9% from 2013 to 2019.
The
growing threats from terrorism and crime have resulted in increasing
budget allocations for physical security by governments across the
world. Moreover, government regulations demanding increased security
levels is driving the adoption of physical security across several
end-user sectors including industrial and business organizations.
North America was the largest market in 2012 and accounted for around 34% share of the total physical security market followed by Asia Pacific. However, Asia Pacific is expected to surpass North America by 2015, owing to strong demand for physical security solutions in China, India, and Japan. Growth of physical security in the region is mainly spurred by increasing demand from India and China.
Increase in incidences of crime and terror along with continued
investments in infrastructure in the region is expected to be the
significant factor for future growth of the market.
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On
the basis of components, the physical security market has been
segmented into hardware, software and services. The physical security
hardware market was valued at USD 36.48 billion
in 2012 and is estimated that over the forecast period it would grow at
a CAGR of 15.1% from 2013 to 2019. The hardware segment includes
intrusion detection and prevention systems, access control systems and
others (fire and life safety, visitor management and backup power).
Intrusion detection and prevention has been further segmented into video
surveillance, intrusion detection and alarms and locks. It is estimated
that over the forecast period video surveillance market would grow at a
CAGR of 18.0% from 2013 to 2019. Rising installations of IP cameras is
leading to the growth of video surveillance market, globally. Among the
access control products, biometric access control held largest market
share of around 38%. Global market for RFID products is estimated to
grow to the market size of USD 16.26 billion
by 2019. The physical security software market has been segmented into
physical security information management (PSIM) and management,
analytics and modeling software. PSIM is an emerging segment and is
estimated to grow at a CAGR of 25.8% from 2013 to 2019. The growth in
demand for PSIM is being fuelled by declining price of PSIM, increased
sophistication and increasing awareness among end-users.
The
physical security services market has been segmented into video
surveillance as a service (VSaaS), remote management services, technical
support, public safety answering point (PSAP), security consulting,
public alert, customer information and warning systems and others.
During the forecast period, the VSaaS market is estimated to grow at a
CAGR 28.8% from 2013 to 2019 and reach market size of USD 2.42 billion by 2019.
Transportation
and logistics segment which includes aviation, rail, ports, road and
city traffic and new starts projects (light rail, rapid rail, metro
rail, commuter rail, bus rapid transit, and ferries) was the largest
segment among the end user application areas for physical security which
accounted for around 21% share of the total physical security market in
2012. Other important application areas for physical security include
government and public sector, control centers, utilities/energy markets,
fossil generation facilities, oil and gas facilities, chemical
facilities, industrial (manufacturing sector excluding chemical
facilities), retail, business organizations, hospitality and casinos and
others (stadiums, educational and religious infrastructure, healthcare
organizations).
Honeywell
Security Group with a market share of 5.2% emerged as the market leader
in the highly competitive and fragmented physical security market in
2012. It was followed by Bosch Security Systems Inc, Morpho SA (Safran),
Hikvision Digital Technology, Assa Abloy AB, Axis Communication AB,
Pelco Inc, Tyco International Ltd, NICE Systems Ltd, and others.
The global physical security market is segmented as below:
By Components
By Hardware
- Intrusion detection and prevention
- Video surveillance
- Analog Cameras
- IP Cameras
- Digital video recorders (DVRs)
- Close circuit television (CCTV)
- Encoders
- Storage
- Network video recorders (NVRs)
- Intrusion detection
- Panels
- Detectors
- Keypads
- Accessories
- Intruder alarms and locks
- Video surveillance
- Access control
- Biometrics
- Fingerprint recognition
- Facial recognition
- Iris recognition
- Others (voice, signature, hand geometry, so on)
- RFID
- Active RFID
- Passive RFID
- Interrogators
- Card based access control
- Smart cards and readers
- Proximity cards and readers
- Controllers
- Others (touch screens and keypads, barcodes, magnetic stripes, so on)
- Biometrics
- Others
- Fire and life safety
- Visitor management
- Backup power
By Software
- Physical security information management (PSIM)
- Management analysis and modeling software
By Services
- Video surveillance as a service (VSaaS)
- Remote management services
- Technical support
- Public safety answering point (PSAP)
- Security consulting
- Public alert and warning system
- Others (data source, hosted access control, managed access control, alert notification, mobile security management)
By Applications
- Transportation and logistics
- Aviation
- Rail
- Ports
- Road and city traffic
- New starts
- Government and public sector
- Control centers
- Utilities/ energy markets
- Fossil generation facilities
- Oil and gas facilities
- Liquid natural gas facilities (import and export regulations and market analysis)
- Nuclear power
- Solar
- Wind
- Hydro electric
- Chemical facilities
- Industrial (manufacturing sector excluding chemical facilities)
- Retail
- Business organizations (including IT sector)
- Hospitality and casinos
- Others (stadiums, educational and religious infrastructure, healthcare organizations)
By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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