Global Physical Security Services Market Growth Augmenting Due to Rising Implementation of IoT: 11.7% CAGR Estimated by 2022

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Albany, NY — (SBWIRE) — 10/13/2017 — Security services are getting high popularity these days, especially physical security. In recent years, the increase in incidences of terror activities and crime has resulted in escalated demand for physical security solutions. Owing to this, the physical security services market has been gaining significant momentum. Considering this fact, Market Research Hub (MRH) has publicized a new study to its wide repository, which is titled as “Physical Security Services Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022″, and analyzes the market size for 2017 and provides forecast for the next five years based on revenue (US$ Mn). In order to provide a clear vision of the market, the study provides historic data of 2012-2016, by which the readers will get to know about year-on-year growth in the market.

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Geographically, primary regions are analyzed in order to evaluate the impact of the different factors mentioned in the research report. Regions covered in the study include Europe, Latin America, North America, Japan, APEJ and MEA. Additionally, it also highlights a number of drivers, restraints and opportunities that are expected to impact the market during the forecast period. According to the latest findings, the global physical security services market to gain an impressive revenue growth of US$191.7 bn by the end of 2022 from a US$110.3 bn in 2017 at an 11.7% CAGR. This growth in global physical security services market is expected to be influenced by the swelling employment of automobile tracking, smart technologies and internet of things (IoT).

Physical security is the term, which is used for the protection of personnel, hardware, software, networks and data from physical actions and events that could cause serious loss to an enterprise, agency or institution. Currently, technological development in the industry and stringent government norms could be key factors enlarging the growth of the market. In terms of geographical presence, analysts foretell the market of North America to top revenue share in 2017 and also 2022 while expanding at a 12.6% CAGR.

As mentioned earlier, regulations imposed by governments of different countries demanding increased security levels is driving the adoption of physical security in several end-user sectors including industrial and business organizations. Moreover, one of the most momentous trends gaining traction in the world physical security services market is forecasted to be the advent of thermal cameras which could be best for supervising unique or large-scale outdoor environments.

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This study further segments the market on the basis of type, vertical and geography. Major types include video surveillance as a service (VSaaS), access control as a service (ACaaS), remote monitoring services, and security system integration. While access control and surveillance systems could be the primary equipment used in physical security services, there could be a substantial adoption of cloud-based services and solutions. Of these, ACaaS physical security services are the dominant segment, which is expected to be earned 42.2% share by 2022. By vertical, the report has been classified into banking, financial services, and insurance (BFSI), education, healthcare, government, manufacturing, retail, residential, transportation, utilities and energy, and commercial.

Some of the leading names in the worldwide physical security services market could be Tyco International Limited, STANLEY Convergent Security Solutions, Inc., The ADT Corp., SECOM Company Limited, United Technologies Corporation, SOHGO SECURITY SERVICES CO., LTD. (ALSOK), Bosch Sicherheitssysteme GmbH, Honeywell International, Inc., S-1 Corp., and G4S PLC.

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MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.

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About the Author: Karen Green

Karen grew up in a small town in northern Quebec. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Karen writes articles covering Quebec