The global physical security market accounted for USD 70.11 billion in 2016 growing at a CAGR of 11.01% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
“Physical Security” information management has took place due to the increasing demand for centralized control and management of disparate devices among enterprises. It has been designed in order to ensure the physical protection of IT assets for instance equipment, personnel, and resources. These measures are taken in order to protect the assets from vandalism, natural disasters, or theft. It is widely applicable in government, defense & public sector, transportation & logistics, telecom & IT, banking, financial services, & insurance, education, retail, oil, gas & energy, hospitality & residential. Rise in incidences of terror attacks may act as a major driver in the growth of physical security market. On the other hand lack of cooperation among security solutions may hamper the market.
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- Anixter Inc.
- Johnson Controls
- Bosch Sicherheits systeme GmbH.
- ADT LLC
- Genetec Inc.
- Honeywell International Inc.
- Pelco, Stanley Security Solutions, Inc.
- Senstar Corporation
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The report for physical security market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more effective investments.
Major market drivers & restraints:
- Rise in incidences of terror attacks
- Increased usage of internet of things (IoT)
- Need to protect business assets, employees, and customers
- Limited use of advanced technologies
- Lack of cooperation among security solutions
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