The Latest Physical Security Industry Statistics Explained
The global physical security market size was valued at USD 102.1 billion in 2020.
This statistic indicates that the total market value of physical security products and services worldwide was estimated to be USD 102.1 billion in 2020. This figure reflects the collective expenditure on various measures and technologies that organizations and individuals invest in to protect physical assets, facilities, and people from risks such as unauthorized access, theft, vandalism, and physical harm. The increasing awareness of security threats, advancements in security technology, and regulatory requirements are some factors that contribute to the growth of the global physical security market, making it a significant and lucrative industry.
The physical security market is projected to reach USD 171.0 billion by 2027, growing at a CAGR of 6.5%.
This statistic indicates that the physical security market is forecasted to expand significantly over the coming years, with an estimated value of USD 171.0 billion by the year 2027. The Compound Annual Growth Rate (CAGR) of 6.5% suggests a steady and consistent growth trajectory for the market. This projection implies an increasing demand for physical security solutions and services, likely driven by factors such as technological advancements, rising concerns about security threats, and regulatory requirements. Organizations and individuals are expected to invest more in physical security measures to safeguard their assets, properties, and data, contributing to the overall growth of the market in the foreseeable future.
The video surveillance system type segment held the largest share of 58.1% in 2019.
This statistic indicates that among the different types of video surveillance systems available, the segment representing a specific type held the largest market share of 58.1% in 2019. This means that a significant proportion of the video surveillance market in 2019 was dominated by this particular type of system compared to others. The high share suggests that this specific segment was widely adopted and favored by consumers or businesses seeking video surveillance solutions during that time, potentially due to factors such as efficiency, cost-effectiveness, technological advancements, or other competitive advantages over alternative system types in the market.
The residential sector of the physical security market is predicted to grow with the highest CAGR of 7.7% from 2020 to 2027.
This statistic indicates that the residential sector within the physical security market is expected to experience significant growth over the period from 2020 to 2027, with a compound annual growth rate (CAGR) of 7.7%. This means that the demand for security solutions such as alarm systems, surveillance cameras, and access control systems in residential areas is projected to increase steadily at an annual rate of 7.7% during this time frame. Factors driving this growth may include rising concerns about home security, advancements in technology, and increasing awareness about the importance of protecting residential properties. Overall, this statistic suggests that the residential physical security market is a promising sector for investment and development in the coming years.
The Asia Pacific physical security industry is estimated to expand at the fastest CAGR during the forecast period.
This statistic indicates that the Asia Pacific physical security industry is projected to experience the highest Compound Annual Growth Rate (CAGR) compared to other global regions over the forecast period. This suggests that the market for physical security systems and solutions in the Asia Pacific region is expected to grow at a rapid pace in the upcoming years. Factors such as increasing investments in security infrastructure, rising awareness about the importance of physical security, and a growing need to combat various security threats are likely contributing to this expansion. This trend highlights the region’s potential for significant growth and opportunities in the physical security sector.
Physical security systems penetration in North America was over 45% in 2020.
This statistic indicates that in 2020, more than 45% of establishments in North America had implemented some form of physical security system. Physical security systems encompass various technologies and practices designed to protect a facility, assets, or individuals from unauthorized access, theft, vandalism, or harm. A penetration rate of over 45% suggests a widespread adoption of security measures across various industries and sectors in the region, likely driven by factors such as increasing security concerns, advancements in technology, and compliance requirements. This statistic implies that a significant portion of organizations in North America prioritize the safety and security of their premises and assets through the use of physical security systems.
The rate of cyber-physical attacks on physical security systems has increased by 50% since 2018.
The statistic indicates that the frequency of cyber-physical attacks on physical security systems has risen by 50% compared to data from the year 2018. This suggests a significant escalation in the number of incidents where cyber threats have successfully infiltrated and disrupted the operation of physical security systems designed to protect assets or infrastructure. The increase could be attributed to various factors, including advancements in hacking techniques, vulnerabilities in security systems, or the growing sophistication of cybercriminals targeting critical infrastructure. Such a substantial rise in cyber-physical attacks underscores the importance of continuously strengthening cybersecurity measures and vigilance in safeguarding physical security systems to mitigate potential risks and protect against future attacks.
The access control system in the physical security market is forecasted to reach $15.94 Billion by 2023.
The statistic indicates a projected value for the access control system segment within the physical security market, forecasting it to reach $15.94 billion by the year 2023. This forecast likely takes into account factors such as increased security concerns, technological advancements, and growing adoption of access control systems across various industries. The substantial projected value suggests a significant market opportunity and potential for growth within the access control sector, highlighting the importance and demand for effective physical security solutions in the coming years.
Intercoms hold a significant market share in the access control system of physical security.
The statistic that “Intercoms hold a significant market share in the access control system of physical security” suggests that intercom systems are widely utilized as a key component of access control systems within physical security infrastructures. This indicates that intercoms are prominently featured and favored by users for controlling and monitoring entry to secure locations such as buildings, facilities, or residential complexes. The significant market share implies that intercom systems are a popular choice among consumers and businesses in the realm of access control for physical security, highlighting their importance and effectiveness in this specific domain.
Government end-user segment in the physical security industry dominated with 35% share in 2019.
The statistic that the government end-user segment dominated with a 35% share in the physical security industry in 2019 indicates that government agencies were the largest consumers of physical security products and services during that year, accounting for more than one-third of the market. This suggests that government entities, including federal, state, and local governments, were the primary purchasers of security-related solutions such as access control systems, surveillance cameras, and monitoring services. The significant market share held by the government end-user segment reflects the high priority placed on security and safety by government organizations, which likely stems from the need to protect sensitive information, infrastructure, and public property.
The Europe physical security industry would reach USD 34.3 billion by 2027.
The statistic indicates the projected growth of the physical security industry in Europe, with an estimated market value of USD 34.3 billion by the year 2027. This figure suggests a significant increase in the demand for physical security solutions in the region over the forecast period. Factors driving this growth may include rising concerns regarding security threats, technological advancements in surveillance and access control systems, and increasing investments in safeguarding various sectors such as government, corporate, and critical infrastructure. The projected market size highlights the importance of physical security measures in protecting assets, premises, and individuals, reflecting a growing emphasis on ensuring safety and security in the European region.
In terms of revenue, the intrusion detection segment is projected to expand at a CAGR of 7.5% over the forecast period in the physical security market.
This statistic indicates that within the physical security market, the intrusion detection segment is expected to experience consistent revenue growth over the forecast period. The Compound Annual Growth Rate (CAGR) of 7.5% suggests that the revenue generated by intrusion detection systems is projected to increase by this percentage each year. This growth rate reflects a healthy and steady expansion of the market for intrusion detection technologies, signaling sustained demand and interest in enhancing security measures to detect unauthorized access or breaches. Overall, this projection signifies a promising outlook for the intrusion detection segment within the broader physical security market in terms of revenue growth.
Physical security industry in the Asia Pacific region is expected to observe the fastest growth over the forecast period 2020-2027, at a CAGR of 8.9%.
The statistic indicates that the physical security industry in the Asia Pacific region is projected to experience rapid growth between the years 2020 and 2027, with a compound annual growth rate (CAGR) of 8.9%. This suggests that there is increasing demand for physical security solutions such as surveillance systems, access control, and intruder alarms in the region. Factors driving this growth may include rising concerns about security threats, technological advancements in security systems, and a growing need for efficient monitoring and protection of assets and individuals. The forecasted growth rate highlights the potential for business opportunities and investments in the physical security sector within the Asia Pacific region during the specified timeframe.
The hospitality sector is likely to exhibit the fastest CAGR of 8.8% in the physical security market from 2020 to 2027.
This statistic indicates that the hospitality sector is expected to experience the highest Compound Annual Growth Rate (CAGR) of 8.8% within the physical security market between 2020 and 2027. A CAGR of 8.8% suggests that the security investments within the hospitality industry are projected to grow steadily over the next seven years, outpacing the growth rates of other sectors within the physical security market. This trend could be driven by factors such as increasing concerns over safety and security, technological advancements in security systems, and regulatory requirements within the hospitality industry. The projected growth rate of 8.8% highlights the importance that the hospitality sector places on ensuring the safety and security of guests and property.
In terms of revenue, the ATM segment is estimated to record the fastest CAGR (compounded annual growth rate) of 9.3% from 2021 to 2028 in the global physical security market.
This statistic indicates that the ATM segment within the global physical security market is projected to experience the highest level of growth in terms of revenue over the period from 2021 to 2028. Specifically, the Compound Annual Growth Rate (CAGR) for the ATM segment is estimated to be 9.3%, signifying a steady and consistent increase in revenue year-over-year during this timeframe. This suggests a growing demand for physical security solutions specifically tailored for ATMs, potentially driven by factors such as the increasing reliance on electronic payments and the need to protect financial assets from security threats. Overall, this forecast highlights the importance of security measures within the ATM industry and the opportunities for growth and investment in this segment of the physical security market.
References
0. – https://www.www.globenewswire.com
1. – https://www.www.grandviewresearch.com
2. – https://www.www.prnewswire.com
3. – https://www.www.fortunebusinessinsights.com
4. – https://www.cybersecurityventures.com
