The approach of internet of things has changed the viewpoint of global physical security market. Physical security comprises three fundamental components which include access control, surveillance and testing. Physical sites are secured against assaults or accidents using locks, fencing, biometric access, control systems and fire suppression systems.
Physical locations are monitored by surveillance cameras, notification systems which include smoke detectors and heat sensors.
Segment overview
”The security industry is segmented based on type, industry and region. Based on type it is divided into system and service. Based on industry it is classified into commercial, government, residential and others. Thirdly security market is segmented based on region across all continents.”
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Top impacting factors
The security industry is anticipated to be driven by increment in frequencies of terror attacks, advancement in technology and growth of demand of security services in shrewd cities. Rapid urbanization has fueled the need of having smart infrastructure integrated with savvy security solutions such as video management systems, live image analytics and detection and tracking systems. Hence, increase in the number of smart cities is expected to boost the security industry market.
Impact of Covid 19 on security industry
The demand for video surveillance and access control systems is expected to surge due to the widespread pandemic to prevent burglary, invasion and unauthorized in commercial and residential areas.
Increase in security guards is additionally anticipated to rise for remote monitoring of the Covid containment zones for viable implementation of lockdown.