Asia-Pacific Physical Security Market Reach USD 90,954 Million by 2027 |Top Players such as – Johnson Controls, Anixter
The rise in importance of physical security for organizations and identifying potential threats are the key drivers for market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 25, 2023 /EINPresswire.com/ — Growth in investments by public bodies for smart city projects, including smart surveillance and monitoring, is one of the primary factors anticipated to boost the Asia-Pacific physical security market growth during the forecast period. China being home to half of the global smart city projects and the country being source to top surveillance and physical security providers, the market is set to experience a positively correlated trend, driving the market growth toward higher profit level both from supply and demand side.
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Rapid advancements in surveillance cameras in Japan to ensure high class security in public premises have emerged as one of the striking factors contribute toward the Asia-Pacific physical security market growth. Similarly, other countries are also adopting these technologies to increase their security measures and to constrict growth of the pandemic, which creates a strong foundation for market growth.
According to a recent report published by Allied Market Research, the Asia Pacific physical security market size was valued at $28,809 million in 2019, and is projected to reach $90,954 million by 2027, registering a CAGR of 15.3% from 2020 to 2027.
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The Asia-Pacific physical security market is primarily segmented on the basis of component, enterprise size, industry verticals, and country. On the basis of component, the market is bifurcated into system and services. The system segment is further divided into physical access system, video surveillance system, perimeter intrusion & detection, physical security information management, and others.
In addition, the services segment is divided into access control-as-a-service, video surveillance-as-a-service, remote monitoring services, security systems integration services and others. On the basis of enterprise size, it is divided into large enterprises and small & medium enterprises. on the basis of industry vertical, it is divided into (BFSI, government, retail, transportation, residential, IT & telecom, and others.
Some of the key players profiled in the report include Cisco Systems, Honeywell international, Huawei, NEC Corporation, and Johnson Controls, Anixter, Genetec, ADT Corporation, Axis Communication AB and Bosch Security and others. This study includes market trends, Asia-Pacific physical security market analysis, and future estimations to determine imminent investment pockets.
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Key Findings Of The Study:
• By component, in 2019, the services segment dominated the Asia-Pacific physical security market size. However, the system segment is expected to exhibit significant growth during the forecast period.
• Depending on service type, the video surveillance-as-a-service segment generated the highest revenue in 2019. However, the access control-as-a-service segment is expected to witness highest growth rate in the future.
• On the basis of industry vertical, the IT and Telecom sector accounted for the highest revenue in 2019, however, the BFSI segment is expected to witness highest growth rate during the forecast period.
• Country wise, the Asia-Pacific physical security market was dominated by China. However, India is expected to witness significant growth in the upcoming years.
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