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News

Market forecast of physical security systems

Research And Markets : 20 February, 2014  (New Product)
Report examines the market to 2019 for physical security systems globally, expected to reach over 125 billion USD
Market forecast of physical security systems

Research and Markets has announced the addition of the "Global Physical Security Market Report 2013-2019" (Hardware, Software & Services Analysis) report to their offering.

The worldwide market for physical security was valued at USD 48.05 billion in 2012 and is projected to reach the market size of USD 125.03 billion by 2019, growing at a CAGR of 14.9% during the period from 2013 to 2019.

Some of the major factors driving the demand for physical security include rising global security concerns and increasing budget allocations for physical security by governments to prevent terrorism and crime activities. In addition, 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. Continued investments in infrastructure worldwide, especially, in Asia Pacific region is expected to emerge as a significant factor behind the growth of physical security market in coming years.

The primary concern in physical security is the protection and prevention in order to serve security interests of people, equipment, and property. The increase in incidences of terror activities and crime has resulted in escalated demand for physical security solutions. It is expected that internet protocol (IP) video, sophisticated access control systems and biometric solutions would drive the demand for physical security solutions. Further, the emerging trend of convergence of logical and physical security and increased demand for integrated physical security solutions are expected to boost the growth of physical security market.

The report can be purchased directly from Research and Markets here: "Global Physical Security Market Report 2013-2019"

 

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