The
overall physical security services market is segmented into remote
management services, video surveillance as a service (VSaaS),
security consulting, public alert, customer information, technical
support, public safety answering point (PSAP), and warning systems
and others. However, the VSaaS market is estimated to rise at a CAGR
of 28.8% during the forecast period and reach market size of $2.42
billion by 2019.
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Security Market Report
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Additionally,
the physical security market is divided based on component types such
as hardware, software, and services. The hardware sector consists of
access control systems, intrusion detection and prevention, and other
products that also include fire and visitor management and life
safety among others. The intrusion detection and prevention category
segment is further divided into intruder alarms and locks, intrusion
detection systems, and video surveillance, whereas, access control
segment constitutes card based access control, radio frequency
identification (RFID), and biometrics products. The market for
video surveillance is estimated to grow at a CAGR of 18.0% for the
forecast 2013 to 2019. This market is leading in terms of growth due
to the rising installations of IP cameras globally. The biometric
access control and access control products segment held the largest
market share with approximately 38% shares in the global market. In
addition, the RFID products market is also estimated to grow and
reach a market size of $16.26 billion by 2019.
According
to this study report, the physical security hardware market was
valued at $36.48 billion in 2012. It is augmented that
during the overall forecast period the market would grow at a CAGR of
15.1% from 2013 to 2019.
Considering
the physical security on software basis, the market has been
segmented into analytics and modeling software and physical security
information management (PSIM) and management. Of all, the PSIM is an
emerging segment growing at a CAGR of 25.8% in the given forecast.
PSIM is high in demand due to the declining prices in this sector,
increasing awareness and sophistication among end-users.
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Physical
security is all about taking the proactive measures to alleviate the
damage to assets or possibility of loss in a particular environment.
It also refers to acquitting electronic and physical measures
intended to control access and intrusion to property, data, or
monitor people and objects. These are efficient tools used to
investigate and prevent crimes when installed in public places such
as airports, banks, casinos, automated teller machines (ATMs),
multiplexes, shopping malls, and others. The adoption of
sophisticated access control systems, Internet Protocol (IP) video
network, and monitoring solutions such as PSIM will drive the market
during the overall forecast period. Also, growing concerns about
safety and incidences of terrorism and security are key factors
driving the growth and demand for physical security systems across
the globe. Such reasons have led to the growth of the global
physical security market.
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In
terms of geographical regions, North America, Europe, Asia Pacific,
and Rest of the World (RoW) are some of the most prominent regions in
the global
physical security market
in terms of revenue generation. North America was the largest
market in 2012 accounting around 34% total shares, followed by Asia
Pacific. Owing to growing demands for physical security solutions in
India, China, and Japan, Asia Pacific will surpass North
America by 2015.
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all Article :
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