Physical Security Market worth $85.51 Billion by 2018

Tuesday 10 September 2013, Amsterdam

The report "Physical Security Market By Products (Video surveillance, Access Control, Biometrics, Intrusion Detection, Security Systems), Services (Remote Management, Technical Support, Security Consulting) Worldwide Market Forecasts and Analysis (2013 – 2018)", which analyzed and studied the major market drivers, restraints, and opportunities in North America, Western Europe, Eastern Europe, Middle East and Africa, Asia Pacific (including Japan) and Latin America.

The study reports that the global physical security market is expected to grow from $55.59 billion in 2013 to $85.51 billion in 2018, at a CAGR of 9.0% from 2013 to 2018.

In the Physical Security market, a wide range of products and services, such as video surveillance, access control, biometrics, remote management, technical support, security consulting, are included. Biometrics holds a major share in the products range. It is expected that access control market will continue to grow at a higher pace. The physical security market will witness a good growth trend in developing economies. There will be a rise in demand for physical security solutions and services in these regions. With an increase in terrorist attacks and sabotages on critical infrastructure zones, the spending on physical security solutions and services will increase in the coming years. Besides, an increase in market acceptance for such solutions and services will be fuelling its growth. End users or consumers are not only looking for various devices, but they are increasingly interested in tailor made solutions and integrated packages.

The recent trends in the industry shows that physical security market is continually improving, and there is a huge demand for physical security solutions and services in almost every industry. The current services, such as remote management, security consulting, and technical support, are suitable for usage in almost every vertical. Some of the advanced products are next generation analytics and infinite storage devices. In the recent times, there has been continuous innovation in this market. Ubiquitous sensor, smarter devices, and cloud technology are some of the emerging technologies in the physical security market.