The global physical security services market is predicted to market could draw a valuation of US$191.7 bn by 2022.
Albany, NY -- (SBWIRE) -- 10/13/2017 -- Security services are getting high popularity these days, especially physical security. In recent years, the increase in incidences of terror activities and crime has resulted in escalated demand for physical security solutions. Owing to this, the physical security services market has been gaining significant momentum. Considering this fact, Market Research Hub (MRH) has publicized a new study to its wide repository, which is titled as "Physical Security Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022", and analyzes the market size for 2017 and provides forecast for the next five years based on revenue (US$ Mn). In order to provide a clear vision of the market, the study provides historic data of 2012-2016, by which the readers will get to know about year-on-year growth in the market.
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Geographically, primary regions are analyzed in order to evaluate the impact of the different factors mentioned in the research report. Regions covered in the study include Europe, Latin America, North America, Japan, APEJ and MEA. Additionally, it also highlights a number of drivers, restraints and opportunities that are expected to impact the market during the forecast period. According to the latest findings, the global physical security services market to gain an impressive revenue growth of US$191.7 bn by the end of 2022 from a US$110.3 bn in 2017 at an 11.7% CAGR. This growth in global physical security services market is expected to be influenced by the swelling employment of automobile tracking, smart technologies and internet of things (IoT).
Physical security is the term, which is used for the protection of personnel, hardware, software, networks and data from physical actions and events that could cause serious loss to an enterprise, agency or institution. Currently, technological development in the industry and stringent government norms could be key factors enlarging the growth of the market. In terms of geographical presence, analysts foretell the market of North America to top revenue share in 2017 and also 2022 while expanding at a 12.6% CAGR.
As mentioned earlier, regulations imposed by governments of different countries demanding increased security levels is driving the adoption of physical security in several end-user sectors including industrial and business organizations. Moreover, one of the most momentous 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.
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This study further segments the market on the basis of type, vertical and geography. Major types include video surveillance as a service (VSaaS), access control as a service (ACaaS), remote monitoring services, and security system integration. 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. Of these, ACaaS physical security services are the dominant segment, which is expected to be earned 42.2% share by 2022. By vertical, the report has been classified into banking, financial services, and insurance (BFSI), education, healthcare, government, manufacturing, retail, residential, transportation, utilities and energy, and commercial.
Some of the leading names in the worldwide physical security services market could be Tyco International Limited, STANLEY Convergent Security Solutions, Inc., The ADT Corp., SECOM Company Limited, United Technologies Corporation, SOHGO SECURITY SERVICES CO., LTD. (ALSOK), Bosch Sicherheitssysteme GmbH, Honeywell International, Inc., S-1 Corp., and G4S PLC.
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