Physical security market to grow 15% annually by 2019
Global Physical Security Market 2015-2019 is a new industry research report that profiles key players like Axis Communications AB, Bosch Security Systems, Cisco Systems Inc., Honeywell Security Group, NICE Systems Ltd. and Tyco International Ltd.
One major trend upcoming in this market is the emergence of ubiquitous sensors that increase the availability of physical security systems. Ubiquitous sensors are smaller in size and can be used for mobile applications, transforming them into smart objects. The usage of ubiquitous sensors will have a positive impact on the security of business critical data and the maintenance of confidentiality. The Physical Security Market is expected to grow at a CAGR of 15.49 percent during the forecast period of 2014-2019.
Enterprises and government organizations are increasingly opting for surveillance systems for maintaining security and monitoring intrusion and theft. Hence, there is a growth in the number of installations of surveillance cameras globally.
Many vendors in the Global Physical Security market are developing customized solutions to cater to the specific needs of customers. Vendors are also providing open architecture systems that are designed to adapt to the current network environment.
Physical security is the method that involves securing an organization’s data, hardware, network, and programs that can be damaged by an external agency, leading to the loss of organizational and brand value. The damage by an external agency can be through burglary, data theft, and terrorism. There are a number of hardware devices and software that are being adopted by government organizations and enterprises to ensure the physical security of business critical data. The increasing instances of criminal activities in recent years are a major reason for the high adoption of physical security methods. The hardware devices used for physical security include surveillance and access control systems. In addition, several cloud-based services and software are available in the market. These solutions ensure the security of data and help to prevent data theft and burglary.
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