According to a new market research report published by Credence Research “Physical Security Equipment and Services Market (By Technology – Equipment: Video Surveillance, Access Control, Intruder Alarms, Entrance Controls, Network Infrastructure, and Others; Services: VSaaS, ACaaS, Remote Monitoring Services, and Integration Services) Market – Growth, Future Prospects, Competitive Analysis and Forecast 2016 – 2024”, the global physical security equipment and services market stood at US$ 143.5 Bn in 2015 and is estimated to expand with a CAGR of 10.7% from 2016 to 2024.
The purpose of the report is to illustrate the state of the market of Physical Security Equipment And Services, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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The physical security equipment and services market has been majorly driven by rising terrorist threats across the world. With increasing instances of terror attacks in major cities across the world, it has become imperative for various organizations and government bodies to deploy advanced physical security solutions to ensure public safety. In addition, technological advancements in camera, storage and other networking technologies have enabled solution providers to design and deploy comprehensive security solutions offering innovative capabilities. Furthermore, the rise of IP-based systems has led to higher adoption of networked security due to its benefits such as ease of access and scalability.
Some of the factors driving the growth in the physical security equipment and services market include rise of terror activities across the world. With increasing threats and rising vulnerability of various buildings and facilities, there has been growing investment towards ensuring physical safety. In addition, it has become crucial to deploy advanced security solutions to strengthen public confidence and ensure social harmony. Thereby, the overall physical security equipment and services market is expected to grow due to increasing government budgets towards public safety during the forecast period.
Factors such as high initial costs and limited budgets have been restraining the growth in the overall physical security equipment and services market. Due to limited budgets, various institutes and organizations have not been able to deploy effective security solutions at their facilities.
The global physical security equipment and services market is highly fragmented with numerous providers catering to various regions in the world. Some of the leading players which have prominent presence all across the world include Tyco International Ltd., Stanley Security Solutions, Honeywell International, Inc., United Technologies Corporation, Bosch Sicherheitssysteme GmbH, G4S Plc. and Siemens AG, among others. Apart from these global players, there are numerous companies operating in various regions and have dominant presence their local markets. Thereby, the physical security equipment and services market is highly competitive all across the world.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Physical Security Equipment And Services buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Physical Security Equipment And Services contains:
Analysis and forecast of Physical Security Equipment And Services market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Physical Security Equipment And Services market;
Assessment and forecast of Physical Security Equipment And Services market development;
Financial and business profiles of the leading companies in the Physical Security Equipment And Services industry.
– Up to date working Physical Security Equipment And Services data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Physical Security Equipment And Services for the period 2018 to 2026
– Planned Physical Security Equipment And Services additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Physical Security Equipment And Services projects by region, key countries, and companies
– Details of major planned Physical Security Equipment And Services projects in the world up to 2026
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