Physical
security basically refers to the physical and electronic methods that
are designed to monitor objects and people. Secondly, it is also
utilized to control access and interference to property and
information. Physical security services are those services, which add
to smoothen the physical security measures. Physical security systems
are strong and powerful devices, which are used to stop and
investigate felonies by having them installed in public places such
as shopping malls, multiplexes, banks, automated teller machines
(ATMs), airports, casinos, and others. Increasing incidences of
terrorism and rising concerns about safety and security are some
important factors, which are driving the global demand for physical
security systems. With the growing demand for physical security
products owing to soaring criminal activities, security solutions
have become advanced and complicated. This has led to the growth of
the physical security service industry.
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Physical
Security Market - Analyzing the Market
The
physical security market is mainly analyzed on three fronts:
Components, application, and region. Industry components are further
classified into hardware, software, and services.
The
physical security hardware market has been further classified into
access control systems, intrusion detection and prevention systems,
and others such as fire and visitor management, life safety, and
backup power. Video surveillance was the biggest market among
intrusion detection and prevention hardware products, which accounted
for around 72% of total market share in 2012. It is likely to be the
fastest growing category during 2013 to 2019. In access control,
biometric access control accounted for the biggest market share of
around 38% of total access control market in 2012.
Physical
security software market has been divided into physical security
information management, analysis, and modeling software. Physical
security information management is gaining market demand very fast,
propelled by declining prices, increased advancement, and rising
awareness between end-users.
Physical
security market based on services has been categories into video
surveillance as a service (VSaaS), remote management services,
technical support, public safety answering point (PSAP), customer
information and warning systems, public alert, security consulting,
and others such as hosted access control, data source, alert
notification, managed access control, and mobile security management.
Among the services segments, VSaaS is likely to be the fastest
emerging market propelled by advantages such as simplicity, cost
savings, and remote access.
On
the basis of application, physical security market is segmented into
transportation and logistics, control centers, government and public
sector, fossil generation facilities, energy markets, chemical
facilities, oil and gas facilities, business organizations, retail,
hospitality, casinos, and others such as stadiums, religious and
educational infrastructure, medical and healthcare organizations.
Transportation industry in transportation and logistics sector was
the largest application segment of physical security market in 2012.
Based
on geography, the physical security market is classified into North
America, Europe, Asia Pacific, and Rest of the World. North America
emerged as the largest regional market for physical security in 2012.
Asia Pacific is one of the fastest growing physical security markets
increasing at 17% CAGR due to considerable push from police and
governments to improve security in accordance with the rising
incidences of crime and terror attack in the region.
Physical
Security Market - Key Players
Morpho
SA (Safran), Siemens AG, NICE Systems Ltd., Honeywell Security Group,
Cisco Systems Inc., BM Corporation, Assa Abloy AB, McAfee Inc,
HikVision Digital Technology Co., Ltd., EMC Corporation, Bosch
Security Systems Inc, Genetec Inc, Tyco International Ltd, VidSys
Inc, Axis Communications AB, Pelco Inc., and Computer Sciences
Corporation (CSC) are the major players of physical security market.
Till
2012, the physical security market was highly fragmented and was
without any dominance. However Honeywell Security Group came out as
the market leader, which held approximately 5% of the total share of
physical security market in 2012. Advancement in technologies such as
shift to cloud and intelligent analytics are likely to benefit
physical security market.
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