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Physical Security Market Future Plans, Competitive Landscape and Key Vendors
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Physical Security Market, By Type (System, Service), Industry (Education, Oil & Gas, Government, Retail, Hospitality, BFSI, Retail) and Region - Forecast 2030

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Market Research Future (MRFR) expects the  physical security market  2020 to touch a tremendous valuation of USD 120 Billion by the year 2022. MRFR adds that the market can advance at a steady rate of 10% between 2016 and 2022 (which is the review period ).

The importance of advanced physical security among organizations and detecting of any potential threats has surged quite significantly in recent years, which sets the tone of the market growth. End-use industries such as banks, retail, hospitality and transportation face a variety of security challenges and theft and destruction which are tough to handle using traditional security systems. This has led to higher deployment of physical security systems across organizations. However, budgetary constraints can slacken the adoption of physical security systems in the coming years.

Having said that, governments everywhere are highly focused on fortifying their physical security infrastructure in order to be more prepared for potential threats, leading to better business expansion. Over the years, the widening entry points within the data systems of the IoT-backed ecosystem have boosted the number of cyber-attacks. Therefore, intense efforts are being made to boost IoT security with the use of advanced physical security systems to bring down the chances of such attacks. Also, technological innovations and advancements in videos, access systems and integrated sensors in IoT-enabled devices can also mean healthy prospects for physical security industry during the review period.

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The regional outlook of the physical security industry covers Asia Pacific (APAC), Europe, the Americas, and Rest of the World or RoW.

North America is at the vanguard of the global market, apparent from the high adoption of physical security systems in the region. The region's formidable position is the result of is favorable economic status, strict regulatory standards, and the massive investments being made by enterprises in these solutions.

Top Key Players

Leading competitors in the market for physical security include Cisco Systems, Inc. (US), Pelco (US), Senstar Corporation (Canada), Genetec Inc. (Canada), Honeywell International Inc. (US), Tyco International PLC (Ireland) , Anixter International Inc. (US), Bosch Security Systems Inc. (Germany), Stanley Security (US), ADT Corporation (US), to mention a few.

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