Physical Security 2023 Industry Report Potential Growth, Share, Demand And Forecast to 2030
Physical Security Industry Overview The global physical security market size was valued at USD 127.01 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030. 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 organization’s critical asset, adoption of cloud-based data storages, 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. Gather more insights about the market drivers, restrains and growth of the Physical Security Market 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,...