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Physical security is a type of security service that aids in the protection of data, software, hardware, personnel, and networks from physical actions and incidents that may cause significant harm to the enterprise or any agency. It includes fire, flood, burglary, theft, natural disasters and vandalism, and terrorism protection. The rise in terrorist attacks around the world is one of the major factors driving the growth of the physical security market. The increased emphasis on improving physical security for organisations and identifying potential threats, as well as widespread use in various end-use industries such as retail, banks, transportation, and hospitality for a variety of security purposes, is driving market growth. Increased technological advancements and deployment of wireless technology in security systems, as well as an increase in IP-based cameras for video surveillance, all have an impact on the market.
The Physical Security Market is divided into three sections: type, vertical, and region. It is classified into two types: system and service. Banking, financial services, and insurance (BFSI); commercial; government; residential; transportation; and others are the vertical classifications (education, healthcare, retail, energy & utilities, manufacturing, & industrial). The physical security market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America, Middle East, and Africa (LAMEA), with country-level analysis for each. Furthermore, rapid digitization, the implementation of mobile-based access control, the increased need to ensure compliance with industry regulations, and the adoption of IoT-based security systems with cloud computing platforms all have a positive impact on the physical security market. In addition, the use of AI to improve surveillance and adoption.
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