0

Asia-Pacific Physical Security Market Expected to Reach $90.95 Billion by 2027

 
2022
Asia-Pacific Physical Security Market

Report Code : A10376

quote 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 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. 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 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 the market growth quote

Abhijith Nair
Research Analyst, ICT at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “Asia-Pacific physical security market by component, solution type, service type, enterprise size, industry vertical, and country: opportunity analysis and industry forecast, 2020-2027,” 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.

Demand for video surveillance products has increased, especially in the COVID-19 pandemic scenario, where remote monitoring and surveillance measures have a great importance for patient tracking and preventing spread of the disease. Asia-Pacific dominated the video surveillance market, with China holding a significantly higher share. China mobilized its mass surveillance tools, from drones to CCTV cameras, to monitor quarantined people and track spread of the coronavirus. As per the data released by CNBC, there are estimated 770 million surveillance cameras installed around the world, with more than 50% installed only in China. In addition, China is home to some of the world’s largest makers of video surveillance products, such as Division, Huawei, and Dahua. Furthermore, governments of countries such as China and South Korea are adopting surveillance technologies to keep a track of the coronavirus spread.

For instance, in China, government-installed CCTV cameras point at apartment doors of those who are under a 14-day quarantine to ensure that they do not leave their premises. Thus, there is a constant demand for effective surveillance solutions, which is set to boost demand of physical security solutions during the forecast period.

In 2019, the Asia-Pacific physical security market share was dominated by the services segment, and is expected to maintain its dominance in the upcoming years, owing to rise in awareness of automated security solutions such as door locking, intrusion detection, and fire detection systems by households as well as organizations has a huge positive impact on growth of the physical security services market.

Growth in demand from smart cities as well as emergence of logical and physical security system integration technologies are anticipated to boost the market growth during the forecast period. However, system segment is estimated to achieve a fastest growth rate, as both private and public sectors are intensely focusing on implementing ‘fever detection’ devices and other new sensors without necessarily having time to consider privacy implications. This sensitivity has led the Asia-Pacific physical security industry to address privacy related issues and find appropriate solutions.

By service type, the video surveillance-as-a-service segment dominated the market in 2019, and is expected to maintain its dominance in the upcoming years. Rise in awareness regarding benefits of video surveillance software, such as enhanced system health management, improved video content analysis, and easy retrieval of video information, and is expected to drive the VSaaS market. Storage capacity of cloud-based solutions in current surveillance systems is comparatively high on account of video management and video analytics software. COVID-19 has bought up a new transition within business models of enterprises that has caused a heavy reliance on cloud-based systems and remote monitoring services, which propels the overall market growth.

The current estimation of 2027 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has high impact on growth of the market. With emergence of the COVID-19 pandemic, surveillance technology has seen a positive spike, with people willing to give up on privacy issues and integrate surveillance technology to ensure good health. With majority of workplaces considering the option of resuming work, coupled with stringent government regulations regarding social distancing has raised demand for effective surveillance and monitoring solutions, which creates a strong demand for physical security solutions. This rise in demand has led various companies to introduce innovative product series within physical security solutions, which propels growth of the market. For instance, in July 2020, Vidooly launched AI based surveillance technology that allows organizations, campuses, and other institutions to detect and track any COVID-19 violations as a preventive measure. It also provides a contact free surveillance by automatically extracting meaningful actionable information from digital videos captured through CCTV cameras based on a rich set of video analytics.

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. 

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.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Asia-Pacific Physical Security Market By Component (System and Service Type), System Type (Physical Access System, Video Surveillance System, Perimeter Intrusion & Detection, Physical Security Information Management, and Others), Service type (Access Control-As-A-Service, Video Surveillance-As-A-Service, Remote Monitoring Services, Security System Integration Service, and Others), Enterprise Size (Large Enterprises and Small & Medium Enterprises) and Industry Vertical (BFSI, Government, Retail, Transportation, Residential, IT & Telecom, and Others) Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Plush Toy Market

Download Sample

Buy Full Version
"Asia-Pacific Physical Security Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers