The physical security market refers to the industry segment that focuses on the development and deployment of security solutions to protect people, assets, and facilities from physical threats such as theft, vandalism, terrorism, and natural disasters. The market is driven by increasing concerns about security threats and the need for advanced technology solutions to mitigate risks. Key factors driving the growth of the market include the rise in criminal activities, the emergence of smart city initiatives, and the increasing demand for video surveillance and access control solutions. Additionally, advancements in technology such as the Internet of Things (IoT), cloud computing, and artificial intelligence are transforming the physical security market, enabling the development of innovative solutions with enhanced capabilities for threat detection and prevention. The market is highly competitive, with key players investing heavily in research and development to maintain their market position and provide cutting-edge solutions to customers.
The global Physical Security Market was valued at US$ 171.1 Mn in 2021 and is expected to reach US$ 817.1 Mn by 2030, growing at a CAGR of 19.2% between 2022 and 2030.
Key Competitors in the Physical Security Industry:
1. Axis Communications AB
Axis Communications AB was founded in 1984 and is headquartered in Lund, Sweden. The company operates in over 50 countries and is a leading provider of network video solutions for surveillance and security applications. In 2021, Axis Communications introduced new cameras and radar technology for perimeter protection, as well as an updated version of their video management software.
2. VidSys Inc.
VidSys Inc. was founded in 2005 and is headquartered in Vienna, Virginia, United States. The company operates in several countries worldwide and specializes in the development of physical security information management (PSIM) software for security and surveillance systems.
3. Bosch Security Systems Inc.
Bosch Security Systems Inc. was founded in 2001 and is headquartered in Fairport, New York, United States. The company operates in over 50 countries and provides a range of security and communications solutions, including video surveillance, access control, and intrusion detection. In 2021, Bosch Security Systems introduced new video cameras and software updates for their video management system, as well as a new access control system.
4. EMC Corporation
EMC Corporation was founded in 1979 and is headquartered in Hopkinton, Massachusetts, United States. The company operates in over 80 countries and is a leading provider of data storage and management solutions for enterprise customers.
5. Morpho SA
Morpho SA was founded in 2007 and is headquartered in Paris, France. The company operates in over 100 countries and specializes in the development of biometric and identity management solutions for government, enterprise, and consumer applications.
6. Tyco International Ltd
Tyco International Ltd was founded in 1960 and is headquartered in Cork, Ireland. The company operates in over 50 countries and provides a range of security and fire protection solutions for commercial and residential customers.
7. HikVision Digital Technology Co., Ltd.
HikVision Digital Technology Co., Ltd. was founded in 2001 and is headquartered in Hangzhou, China. The company operates in over 150 countries and is a leading provider of video surveillance products and solutions for various applications. In 2021, HikVision introduced new cameras and updated their video management software, as well as releasing a new access control system.
8. Assa AB
Assa AB was founded in 1994 and is headquartered in Stockholm, Sweden. The company operates in over 70 countries and is a leading provider of access control and door opening solutions for commercial and institutional customers. In 2021, Assa AB acquired the smart lock company August Home Inc.
9. Genetec Inc.
Genetec Inc. was founded in 1997 and is headquartered in Montreal, Canada. The company operates in over 80 countries and provides a range of security and surveillance solutions, including video management software, access control, and license plate recognition.
10. Honeywell Security Group
Honeywell Security Group was founded in 1927 and is headquartered in Melville, New York, United States. The company operates in over 70 countries and provides a range of security and automation solutions for residential and commercial customers.
11. Cisco Systems Inc.
Cisco Systems Inc. was founded in 1984 and is headquartered in San Jose, California, United States. The company operates in over 100 countries and provides a range of networking and security solutions, including video surveillance and analytics.
12. Pelco Inc.
Pelco Inc. was founded in 1957 and is headquartered in Fresno, California, United States. The company operates in over 130 countries and is a leading provider of video surveillance solutions for various applications, including commercial, industrial, and government markets.
*Definition- Physical security refers to the measures and systems used to safeguard people, assets, and facilities from physical threats such as theft, vandalism, terrorism, and natural disasters. This can include the use of security personnel, video surveillance, access control systems, and alarms.
