In a recent published report, Kenneth Research has updated the market report for Physical Security Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Physical Security Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Global Physical Security Market Analysis – 2020-2028
Physical Security is defined as the protection of information-related assets, personnel devices, hard drives, computers, an organization’s assets, and property from physical actions that could cause damage. Physical security describes the measures to protect the assets from real-world threats and crimes. The global physical security market is anticipated to achieve a CAGR of 8.03% across the globe over the forecast period, i.e. 2020-2028.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Factors such as the increasing scope of IoT in enabling data protection through innovative connected networks of the physical security system and the increasing spending by government bodies worldwide on the installation of new physical security systems, such as video surveillance, access control & others in government offices & public facilities is further anticipated to provide growth opportunities to the global physical security market. Additionally, growing demand for the security and surveillance of the smart cities is anticipated to be one of the major driving factors for the growth of the global physical security market.
The global physical security market consists of various segments that are segmented by component, organization size, vertical, and by region. The component segment is sub-divided into system and services. The system segment is further sub-divided into a video surveillance system, physical access control system, perimeter intrusion detection & prevention, security scanning, imaging & metal detection, fire & life safety, and others. Among these segments, the video surveillance system held a market value of around USD 27000 million in the year 2018 and is further expected to cross a value of around USD 55000 million by the end of 2028 by growing at a CAGR of around 7.6% throughout the forecast period.
Based on the region, the global physical security market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific held a market value of around USD 16000 million in the year 2018 and is expected to garner a value of around USD 40000 million by the end of 2028 by registering a CAGR of around 9.5% throughout the forecast period.
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“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
Market Analysis of Leading Companies of Global Market
Some of the affluent industry leaders in the global physical security market are Bosch Sicherheitssysteme Gmbh, Axis Communications AB, Honeywell International Inc., Cisco Systems, Inc., Johnson Controls International PLC, Secom Co., Ltd., Genetec Inc., Zhejiang Dahua Technology Co., Ltd., Securitas AB and Prosegur Compania De Seguridad, SA.
Competitive Analysis:
The Global Physical Security Market report examines competitive scenario by analysing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
Key points covered in this report:
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed.
- The import and export details along with consumption value and production capability of every region is mentioned in the report.
- Porter’s five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth.
- The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies.
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“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Answered to The Frequently Asked Questions:
What Is the Scope of The Report?
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
What Are The Key Segments In The Market?
- By product type
- By End User/Applications
- By Technology
- By Region
Which Market Dynamics Affects The Business?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Key Topic Covered in this Report
- Market Growth Opportunities
- Leading Market Players
- Market Size and Growth Rate
- Market Growth Drivers
- Company Market Share
- Market Trends and Technological
- Impact Analysis of COVID-19 Pandemic on the Global Market
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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About Kenneth Research:
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