The global physical security market is growing at a CAGR of 14.9% from 2013 to 2019. This incredible growth rate is set to propel the global physical
security market from being valued at US$48.05 billion to reach a massive US$125 billion by 2019.
Driving the global physical security market at this high growth rate are factors such as a greatly increasing awareness of protecting confidential data and
the rapid rate of industrialization creating a sprawling infrastructure landscape. This holds true especially for the Asia Pacific region, with countries
such as China and India currently in a state of heavy industrialization.
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Physical Security Market
What Constitutes Physical Security?
The global physical security market holds a plethora of hardware, software, and services that stand guard for your data and devices. They protect an
institution, enterprise, or agency from major loss of data that could occur in times of physical incidents. The list of physical incidents includes
terrorism, theft, vandalism, most natural disasters, and fires. Most organizations pay far more attention to virtual security in order to protect their
data from spyware, viruses, Trojans, and hackers than they do to installing physical security measures. However, the truth is that although physical events
might occur less frequently than cyber-attacks, their potency to cause massive damage is greater, as major losses can occur due to even inexperienced
thieves. Besides, any organization that plans to stick around for the long run needs to understand that natural disasters and fires are rather inevitable
at some point.
There are four key elements that make up a non-personnel physical security service. They are:
The use of security personnel is also common as it involves the use of trained individuals that can deter as well as locate and apprehend intruders.
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VSaaS and Biometric Scanners Rule Global Physical Security Market
Nearly 72% of the global physical security market was taken up by video surveillance in 2012. The segment is also calculated to be the fastest growing one
till 2019. The access control segment of the global physical security market was dominated by biometric access controllers in 2012, when it held nearly 38%
of the market. Meanwhile, the global physical security market for the same year was dominated by transportation and logistics with regard to application.
This shows that the phenomenal growth rate of the global physical security market can be vastly attributed to the adoption and development of video
surveillance and VSaaS, along with biometric access controllers, which will continue to lead the global physical security market in the years to come.