Physical security basically refers to the physical and electronic methods that are designed to monitor objects and people. Secondly, it is also utilized to control access and interference to property and information. Physical security services are those services, which add to smoothen the physical security measures. Physical security systems are strong and powerful devices, which are used to stop and investigate felonies by having them installed in public places such as shopping malls, multiplexes, banks, automated teller machines (ATMs), airports, casinos, and others. Increasing incidences of terrorism and rising concerns about safety and security are some important factors, which are driving the global demand for physical security systems. With the growing demand for physical security products owing to soaring criminal activities, security solutions have become advanced and complicated. This has led to the growth of the physical security service industry.

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Physical Security Market - Analyzing the Market

The physical security market is mainly analyzed on three fronts: Components, application, and region. Industry components are further classified into hardware, software, and services.

The physical security hardware market has been further classified into access control systems, intrusion detection and prevention systems, and others such as fire and visitor management, life safety, and backup power. Video surveillance was the biggest market among intrusion detection and prevention hardware products, which accounted for around 72% of total market share in 2012. It is likely to be the fastest growing category during 2013 to 2019. In access control, biometric access control accounted for the biggest market share of around 38% of total access control market in 2012.

Physical security software market has been divided into physical security information management, analysis, and modeling software. Physical security information management is gaining market demand very fast, propelled by declining prices, increased advancement, and rising awareness between end-users.

Physical security market based on services has been categories into video surveillance as a service (VSaaS), remote management services, technical support, public safety answering point (PSAP), customer information and warning systems, public alert, security consulting, and others such as hosted access control, data source, alert notification, managed access control, and mobile security management. Among the services segments, VSaaS is likely to be the fastest emerging market propelled by advantages such as simplicity, cost savings, and remote access.

On the basis of application, physical security market is segmented into transportation and logistics, control centers, government and public sector, fossil generation facilities, energy markets, chemical facilities, oil and gas facilities, business organizations, retail, hospitality, casinos, and others such as stadiums, religious and educational infrastructure, medical and healthcare organizations. Transportation industry in transportation and logistics sector was the largest application segment of physical security market in 2012.

Based on geography, the physical security market is classified into North America, Europe, Asia Pacific, and Rest of the World. North America emerged as the largest regional market for physical security in 2012. Asia Pacific is one of the fastest growing physical security markets increasing at 17% CAGR due to considerable push from police and governments to improve security in accordance with the rising incidences of crime and terror attack in the region.

Physical Security Market - Key Players

Morpho SA (Safran), Siemens AG, NICE Systems Ltd., Honeywell Security Group, Cisco Systems Inc., BM Corporation, Assa Abloy AB, McAfee Inc, HikVision Digital Technology Co., Ltd., EMC Corporation, Bosch Security Systems Inc, Genetec Inc, Tyco International Ltd, VidSys Inc, Axis Communications AB, Pelco Inc., and Computer Sciences Corporation (CSC) are the major players of physical security market.

Till 2012, the physical security market was highly fragmented and was without any dominance. However Honeywell Security Group came out as the market leader, which held approximately 5% of the total share of physical security market in 2012. Advancement in technologies such as shift to cloud and intelligent analytics are likely to benefit physical security market.

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