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Cyber Intelligence

Global Physical Security Market Estimated to Double by 2019

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Organizations around the world face a complex set of threats—and for many, new security challenges emerge every year. As the global landscape evolves, so do the technologies that are designed to deter, detect and investigate incidents of crime, fraud, violence and terrorism.

Physical security technology represents an important tool in this worldwide fight—not surprisingly, the industry is growing quickly to meet these challenges. A new report from TechNavio found that the global physical security market is expected to exceed $100 billion by 2019, which is more than double today’s market value.

Several growth drivers are behind this trend:

  • Steady investments in North America. According to the report, the North American market will represent about 33 percent of the global demand for physical security in 2019, totaling about $17.6 billion in revenue. The report also found that many fast-growing trends in this region, such as cloud-based storage, will ripple out to the rest of the world in the coming years.
  • The need for advanced security in key verticals. TechNavio also found that physical security is growing particularly fast in several key markets, including government facilities, transportation and education. These last two verticals are particularly strong in North America, where ongoing concerns regarding crime, violence and terrorism are prompting transportation providers and universities to adopt stronger security protocols.
  • More global interest in physical security. Although North America continues to be the largest investor in physical security, the fastest-growing region will be the Middle East and Africa, with an estimated annual growth rate of 19.49 percent. Organizations within these regions face a wide variety of evolving threats, including theft, vandalism and even terrorism—making effective physical security a must-have, rather than a luxury.
  • New interest in advanced technology. Many facilities around the globe are still secured using analog technologies. As these systems reach end-of-life, organizations turn to the advanced features and capabilities of IP-based surveillance and access control, such as remote access, video analytics, cloud-based services and more. Meanwhile, the prices of IP surveillance and cloud-based solutions are continuing to fall, which only speeds their adoption worldwide. Over the next four years, this move from analog to IP will only help further boost the overall security market—while also benefitting end users with improved security levels.

Although new threats continually emerge in many nations, end users are staying a step ahead by adopting advanced security technologies to protect their facilities, assets and employees. Even in the most volatile spots, these systems help create a higher expectation of security, which benefits everyone.

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