Physical Security Market Latest Trends & Dynamics Report By 2030
Physical Security Industry Overview The global physical security market size was valued at USD 116.91 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% during the forecast period. The need to secure the physical environment from activities, such as crime, vandalism, potential burglaries, theft, and fire incidences, is one of the crucial factors expected to drive the market. Moreover, factors, such as increased spending on the security to protect an organization’s critical assets, adoption of cloud-based data storage, advanced analytics, as well as technological developments in access control and video surveillance are some of the key trends expected to drive the market growth. In addition, the shifting focus from legacy solutions, such as badge readers, alarm systems, and door locks to advanced logical security, which encompasses breach detection, threat management, and intrusion prevention among others, has helped organizations and gover...