Increasing Approval of Physical Security Systems in Business Group to Drive Physical Security Market

2024-04-19 11:50:50 News & Society

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A recent publication issued by Transparency Market Research (TMR) presents analysis of data about the physical security market for hardware, software, and services. The report discusses about the present market scenario and its effects on the future of the global physical security market.

Get the full report of Physical Security Market at http://www.transparencymarketresearch.com/physical-security-market.html

The global physical security market is estimated to grow significantly and reach a value of US$125.03 billion by 2019. The CAGR at which the market is estimated to grow is 14.9% during 2013 to 2019.

The market study, titled ?Physical Security Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019?, makes for an informative report, having in-depth analysis of past performances, current trends, and future prospects of the global physical security market.

Physical security generally refers to the physical and electronic methods designed to supervise objects and people. Additionally, it is also employed to limit access and interference to possessions and information. The services that assist in making the physical security measures swifter and smoother are defined as physical security services. Physical security systems are powerful and strong devices that are utilized in controlling and investigating felonies by having them deployed in public places such as shopping malls, banks, multiplexes, automated teller machines (ATMs), casinos, airports, and others. Increasing frequency of terrorism and rising concerns about security and protection are some significant factors that are propelling the global demand for physical security systems. With the rising insistence for physical security products on the account of heightened criminal activities, security solutions are being developed into advanced and complicated systems. This has triggered the development of the physical security service industry.

The physical security market is studied on the basis of components, application, and region.

In the component-based division of the physical security market, video surveillance was considered as the largest market, with around 72% of the total market share in 2012. It is estimated that it will also be the fastest growing segment during 2013 to 2019. Biometric access control held the biggest share of around 38% in the access control market, in 2012.

In the application-based division of the physical security market, the transportation market under the transportation and logistics sector was the biggest application category of the physical security market in 2012.

In the region-based division of the physical security market, North America emerged as the dominant regional market for physical security in 2012. Asia Pacific is one of the fastest developing physical security markets rising at a 17% CAGR owing to a considerable boost from police and governments to advance security to prevent the frequent incidences of crime and terror attacks in the region.

Siemens AG, NICE Systems Ltd., Morpho SA (Safran), Honeywell Security Group, Cisco Systems Inc., BM Corporation, Assa Abloy AB, EMC Corporation, McAfee Inc, and HikVision Digital Technology Co., Ltd. are some major players whose market profiles are reviewed in this market study.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company?s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR?s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR?s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.