Assam Reporter

North America Physical Security Market Growing at a CAGR 5.2% | Key Player Genetec, Bosch Building Technologies, Gardaworld, Convergint Technologies, Paladin Security

 Breaking News
  • No posts were found

North America Physical Security Market Growing at a CAGR 5.2% | Key Player Genetec, Bosch Building Technologies, Gardaworld, Convergint Technologies, Paladin Security

June 16
14:36 2021
North America Physical Security Market Growing at a CAGR 5.2% | Key Player Genetec, Bosch Building Technologies, Gardaworld, Convergint Technologies, Paladin Security

ADT (US), Cisco (US), Honeywell (US), Johnson Controls (Ireland), TELUS (Canada), Anixter [WESCO] (US), Genetec (Canada), Bosch Building Technologies (Germany), STANLEY Security (US), GardaWorld (Canada), Convergint Technologies (US), Bell Canada (Canada), Paladin Security (Canada), DSC (US), DMP (US), Telsco (Canada), Axis Communication (Sweden)
North America Physical Security Market by Component (Systems and Services), System (PACS, Perimeter Intrusion Detection and Prevention Systems, PIAM, PSIM), Service (Managed and Professional), Organization Size, and Vertical – Global Forecast to 2026

The global North America Physical Security Market size is projected to grow from USD 37.4 billion in 2021 to USD 48.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period. Major driving factors for the North America physical security market include rise in security breaches, fraud, and data identity thefts, surge in use of BYOD/ IoT devices, high demand for cloud-based physical security solutions and services, high volume of online transactions, increasing use of IP-based video surveillance camera systems, and stringent government regulations.

By component, the services segment to register the highest growth rate during the forecast period

Based on component, the North America physical security market is segmented into systems and services. The services segment is estimated to have a larger market size and higher market share during the forecast period. The services segment includes various services that are required to deploy, execute, and maintain the physical security solutions in an organization. During COVID-19, the growing concern of data breaches and privacy compliance regulations is making companies focus on adopting physical security solutions to achieve compliance, improved data security, and better flexibility in operations in North America. Major physical security vendors are widely supporting organizations with quick support services in such unprecedented times. Financial services, healthcare, and the retail industry verticals have witnessed huge data losses due to security breaches. As a result, they are highly dependent on physical security services for strengthening their cybersecurity capabilities.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=153090597

Based on end-user, the retail segment is estimated to grow at the highest CAGR during the forecast period

The COVID-19 outbreak has impacted every possible vertical across the globe, especially high-profile and high-value data verticals such as BFSI, healthcare, retail, and government. With the increasing cyber threat landscape and risk surface, the demand for physical security solutions is also rising in North America. The retail vertical is an early adopter of cutting-edge physical security solutions as they possess highly sensitive personal user data. Retail store outlets are ever-increasingly heading toward the adoption of physical security solutions and services in North America. The retail vertical is largely prone to cyberattacks due to the use of different payment methods, such as MasterCard or Visa. These payment methods capture users’ personal and confidential details, which may consist of phone numbers, email addresses, credit card information, and complete addresses, along with their online behaviors. Regulatory compliances such as PCI-DSS compel retail trade owners to adopt strong physical security measures. Non-compliance with these regulations could lead companies to pay heavy penalties of approximately USD 100,000 every month or USD 500,000 per security incident. Physical security solutions and services also help the retail industry vertical deliver robust security, secure identities, and manage regulatory compliances.

Key and innovative vendors in the North America physical security market include ADT (US), Cisco (US), Honeywell (US), Johnson Controls (Ireland), TELUS (Canada), Anixter [WESCO] (US), Genetec (Canada), Bosch Building Technologies (Germany), STANLEY Security (US), GardaWorld (Canada), Convergint Technologies (US), Bell Canada (Canada), Paladin Security (Canada), DSC (US), DMP (US), Telsco (Canada), Axis Communication (Sweden), Hanwha Techwin America (US), FLIR Systems (US), Qolsys (US), Chubb Fire & Security (UK), Alarm.com (US), Avigilon (Canada), Tyco (Ireland), ICT (New Zealand), AMAG Technology (US), PTI Security Systems (US), Kantech (US), Feenics (Canada), Brivo (Canada), Exacq Technologies (US), SightLogix (US), Kairos (US), Immix (US), IOTAS (US), Verkada (US), Openpath (US), SmartCone Technologies (Canada), Cloudastructure (US), and Qognify (US).

These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the North America physical security market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2021 to innovate their offerings and broaden their customer base.

ADT provides monitored security, interactive home and business automation, and related monitoring services in the US. The company’s monitored security and home/business automation offerings include the installation and monitoring of residential and business security, and premises automation systems designed to detect intrusion, control access, and react to movement, smoke, carbon monoxide, flooding, temperature, and other environmental conditions and hazards and to address personal emergencies, such as injuries, medical emergencies, or incapacitation. The company also provides various alternate and backup alarm transmission methods, including cellular and broadband internet, monitoring of center-supported personal emergency response system products and services, and customer service for maintenance and installation of upgraded or additional equipment. In October 2019, ADT signed an agreement to sell ADT Security Services Canada to Telus Corporation for approximately CAD 700 million. The transaction comprises all of ADT Canada’s operations and assets.

Request a Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=153090597

TELUS is one of the leading national telecommunications and IT company headquartered in Canada. The company has been delivering various innovative telecommunications solutions to Canadian enterprises for more than 100 years. Its annual revenue in 2020 is USD 16 billion with 15.2 million customer connections spanning wireless networks, wireline network access lines, data, Internet Protocol (IP), voice, entertainment, video, security, and television. It delivers a compelling range of products and services for small, medium, and large businesses; and has carved out a leadership position in the health, energy, finance, agriculture, and public sectors with innovative industry-specific solutions. TELUS provides a comprehensive range of communication products and services, which include IP, data, voice, video, and the internet. Telus caters to two business segments: wireline and wireless. The wireless segment includes wireless internet services, digital communications services, and equipment sales. The wireline segment includes voice local, long-distance, data, and other telecommunications services. In October 2019, TELUS acquired home security provider ADT Inc’s Canadian operations for CAD 700 million (USD 527.27 million). As a response to COVID-19, TELUS has donated USD 150 million to COVID-19 relief funds, USD 10 million to support public healthcare, and USD 535,000 to TELUS Friendly Future Foundation.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/north-america-physical-security-market-153090597.html

Related Articles