Physical Security Market Worth Will Gain $30 Billion by 2019
Experts at MarketsandMarkets forecast physical security market to grow from $57.72 billion in 2014 to $87.95 billion by 2019.
North America and Europe are expected to be the biggest markets in terms of revenue contribution, while Asia-Pacific is expected to surpass Europe during the forecast period. Middle East, Africa and Latin America, according to the report, are also expected to experience significant increase during the forecast period.
MarketsandMarkets report gives an overview of a wide range of products and services presented on physical security market: access control systems, biometric scanners, IP-video surveillance software, locks, solutions for information support of physical security management, perimeter guard systems, designing and consulting.
Biometrics holds a major share in the products range. According to the forecast, it is expected that the access control market will continue to grow at a higher pace.
An increase in terrorist attacks and sabotages on critical infrastructure facilities influence the increase in spending on physical security solutions and services. In its own turn, increasing demand for such solutions and services will stimulate the market’s growth and development of new solutions. According to experts’ observations, end users are not only looking for various individual devices, but are also increasingly interested in complex solutions and integrated packages. In almost every industry, there is a huge demand for remote management solutions and data secure storage systems. Such trend is actively promoting the development of various sensors, smart devices and cloud technology.
The important vendors in the market for physical security are Anixter, CSC, Cisco, EMC Corporation, HP, Honeywell International, IBM, Genetec, Lockheed Martin, and Schneider Electric.