Global Physical Security Services Market: Snapshot
The global physical security services market is expected to be influenced by the swelling implementation of automobile tracking and other smart technologies and internet of things (IoT). However, a major chuck of the demand for physical security services could be driven by increasing terror attacks on humans as well as physical properties. Physical security is considered as a vital measure to protect against the surging incidences of terror attacks. Organizations of all sizes and across several regions of the globe are implementing security strategies at a rapid rate. Technological development in the industry and stringent government norms could be key factors enlarging the growth of the market.
The global physical security services market is predicted to rise at a CAGR of 11.7% during the forecast period 2017–2022. By 2022, the market could draw a valuation of US$191.7 bn. In 2017, a valuation of US$110.3 bn was recorded by the market.
Market to Honor ACaaS as Leader in Revenue Growth throughout 2022
According to the analysis of expert researchers, the world physical security services market is prognosticated to be segregated as per type and vertical segmentation. By type, the market could be classified into four key segments, viz. security system integration, remote monitoring services, access control as a service (ACaaS), and video surveillance as a service (VSaaS). Amongst these, ACaaS could post a dominating revenue of US$80.9 bn by the end of 2022.
By vertical, the world physical security services market is envisioned to be divided into several segments such as banking, financial services, and insurance (BFSI), education, healthcare, government, manufacturing, retail, residential, transportation, utilities and energy, and commercial.
Each segment analyzed in the report is studied in-depth in order to provide the best of information to buyers so that they become well-equipped to take important decisions in their individual businesses.
North America to Spearhead Market Growth with Sweeping Revenue Share
On the basis of geography, the international physical security services market is prophesied to be segmented into five vital regions and one country, i.e. North America, Europe, Latin America, the Middle East and Africa (MEA), Asia Pacific except Japan (APEJ), and Japan. The analysts foretell the market of North America to top revenue share in 2017 and also 2022 while expanding at a 12.6% CAGR. The region could even become one of the most lucrative markets for physical security services over the course of the forecast timeframe.
Japan and the MEA are forecasted to be among the slow-moving markets as they could lose 139 BPS and 59 BPS respectively in their share by the concluding forecast year. However, APEJ is anticipated to gain 225 BPS in its share by the same year. Europe could create an absolute revenue prospect of US$13.7 bn between 2017 and 2022.
The publication presented herewith offers an exhaustive study of the vendor landscape of the worldwide physical security services market with crucial players profiled, including Tyco International Limited, The ADT Corp., SECOM Company Limited, STANLEY Convergent Security Solutions, Inc., and United Technologies Corporation.
Global Physical Security Services Market: Overview
The global physical security services market is envisioned to embrace a strong adoption rate owing to the growing incidences of criminal activities in the recent time. While access control and surveillance systems could be the primary equipment used in physical security services, there could be a substantial adoption of cloud-based services and solutions. Such solutions are prophesied to receive a massive attention as they help to dodge data burglary and theft and ensure data security. With a view to maintain the physical security of business critical data, government organizations are increasingly adopting a number of software and hardware devices. Physical security services could also be crucial for avoiding an organization’s loss of brand value.
Global Physical Security Services Market: Dynamics
The world physical security services market is envisaged to possess a telling potential for growth on the back of rising concerns due to soaring crime rates and threats of terrorism and social insecurity. There is an urgent need to protect information, employees, and assets in almost all types of businesses. The expanding infrastructure of retail outlets such as malls and even corporate complexes would require more manpower to secure them efficiently. Furthermore, the elevation in the level of retail shrinkage because of administrative errors, supply chain theft, shoplifting, and employee theft could mean an increase in the demand for physical security services.
One of the most significant trends gaining traction in the world physical security services market is forecasted to be the advent of thermal cameras which could be best for supervising unique or large-scale outdoor environments.
Global Physical Security Services Market: Segmentation
The analysts authoring the publication foresee the international physical security services market to be stratified into various segments according to type, viz. video surveillance as a service (VSaaS), access control as a service (ACaaS), remote monitoring services, and security system integration. In 2017, ACaaS physical security services accounted for a larger share in the market. The dominance of this segment could continue until the end of the forecast period 2017–2022, where a 42.2% share is expected to be earned by 2022.
By vertical, the international physical security services market is predicted to see a classification into 10 different segments, i.e. banking, financial services, and insurance (BFSI), education, healthcare, government, manufacturing, retail, residential, transportation, utilities and energy, and commercial.
On the geographical segmentation front, the international physical security services market could be divided into Europe, North America, Asia Pacific except Japan (APEJ), Latin America, Japan, and the Middle East and Africa (MEA). Out of these markets, North America is projected to secure its lead until the final forecast year. In 2017, the regional market earned a valuation of US$31.1 bn.
Global Physical Security Services Market: Competition
As per the analysis of the report, some of the leading names in the worldwide physical security services market could be Tyco International Limited, The ADT Corp., SECOM Company Limited, STANLEY Convergent Security Solutions, Inc., United Technologies Corporation, SOHGO SECURITY SERVICES CO., LTD. (ALSOK), Bosch Sicherheitssysteme GmbH, Honeywell International, Inc., S-1 Corp., and G4S PLC.