The global physical security market size was around US$ 100 billion in 2018, and it is projected to reach around US$ 200 billion by 2026. The growing need to defend business assets, consumers, and employees have led to significant growth in the industry.

Physical safety refers to security measures designed to protect or avoid unauthorised access to infrastructure or properties. Physical security usually includes the use of various layers, including closed-circuit TV (CCTV) tracking, access control protocols, warnings of threat, video surveillance as a service (VSaaS) and access control as a service (ACaaS).

The market for physical security is projected to grow due to the increasing threat of cyber-attacks and theft. There is a need to safeguard government organisations, shopping centres, data centres, banks, power and energy generation plants, airports, railway stations etc.

With the increasing number of retail stores across the world, the need for physical securities such as internet protocol (IP) surveillance, biometric solution, video analytics and access control systems solutions are anticipated to increase the growth of physical security market.

In addition, the growth of residential and commercial buildings throughout the world has increased the demand for physical security. It is also anticipated that technological advances, such as the introduction of the Internet of Things (IoT) in security services, would stimulate market growth. The physical security companies also started using advanced security technologies that are expected to fuel the demand.

However, there are several factors such as lack of connections between solutions, lack of know-how and high costs may hinder the growth.