PHYSICAL SECURITY MARKET ANALYSISPosted by Trupti on March 18th, 2021 Physical security means protection of hardware, software and data against any physical event which can cause potentially damage to the organization. It is used to protect organization from natural disasters such as theft, accidents and others. All government and business operations face new and complicated security challenges across various operations. The government of various countries have increased spending on physical security due to rise in terrorism and security concerns. The two primary concerns of physical security include prevention and protection serving the security interests of people, equipment, and property. The need for securing critical infrastructure combined with real-time response systems has emerged as the major concern for governments and organizations. Market Dynamics The adoption of advanced technologies such as the internet of things (IoT) is also expected to drive market growth over the forecast period. Nowadays companies have a large amount of data and it becomes difficult to handle a more complex system. Cyber-attacks are increasing due to connectivity through the usage of big data, cloud, social media, and other mobile services. Increasing the adoption of social media, cloud, and many other applications have increased the insider threat into the networks and provide significant loss to the IT industries. Companies such as Akamai Technologies has launched a Cloud Edge platform that is designed to secure delivery of data to connected devices and in-application messaging. According to IoT Analytics Research, approximately 22,000 million connected devices will deliver data across the Internet by 2020. Billions of application instances will send trillions of messages and it becomes challenging for businesses to protect sensitive data. This increases the demand for physical security. Increased investment in infrastructure is expected to drive global physical security market growth over the forecast period. The investment in global infrastructure has been on a rise in the recent past. Currently, there is a need to expand and replace existing infrastructure including global energy infrastructure and public sectors such as airports, roads, railways, and communication networks. Furthermore, major sports events held during the forecast period are expected to drive the demand for physical security products. Therefore, such factors are expected to propel the global physical security market growth in the near future. Market taxonomy This report segments the global physical security market on the basis of components, application and region. On the basis of component, the global physical security market is segmented into. Hardware (intrusion detection and prevention, access control and others), Software (Physical Security Information Management (PSIM) and management analysis and modeling software) and Services (Video Surveillance as a Service (VSaaS), remote management services, technical support, Public Safety Answering Point (PSAP), security consulting, public alert and warning system and others). On the basis of application the global physical security market is segmented into transportation and logistics, government and public sector, control centers, utilities/ energy markets, chemical facilities, industrial, retail, business organizations, hospitality and casinos and others, On the basis of region, the global physical security market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Key features of the study:
Detailed Segmentation:
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