Physical Security Market Expected To Register A CAGR Of 6.5% Over The Forecast Period
Physical Security Industry Overview The global physical security market size was valued at USD 102.9 billion in 2019 and is expected to register a CAGR of 6.5% over the forecast period. Increasing importance of improving physical security for organizations and identifying potential threats are the key drivers for market growth. Several end-use industries such as retail, banks, transportation, and hospitality, have a different set of security challenges, wherein traditional security systems at times fail to reduce the risk of resource theft and destruction. Budgetary constraint is one of the crucial hurdles which slows down the adoption of advanced physical security systems. In addition, availability of counterfeit hardware products compromises the growth of the manufacturers. Gather more insights about the market drivers, restrains and growth of the Global Physical Security Market Governments across major regions are continually working toward strengthening their physical sec...