Physical Security Market Forecast Leading Key Players, Market Segments, Business Trends and Growth by Forecast to 2027 | COVID-19 Effects
Market Scope Market Research Future (MRFR) expects the physical security market 2020 to touch a tremendous valuation of USD 120 Billion by the year 2022. MRFR adds that the market can advance at a steady rate of 10% between 2016 and 2022 (which is the review period). Top Boosters and Main Challenges The importance of advanced physical security among organizations and detecting of any potential threats has surged quite significantly in recent years, which sets the tone of the market growth. End-use industries such as banks, retail, hospitality and transportation face a variety of security challenges and theft and destruction which are tough to handle using traditional security systems. This has led to higher deployment of physical security systems across organizations. However, budgetary constraints can slacken the adoption of physical security systems in the coming years. Having said that, governments everywhere are highly focused on fortifying their physical security infrastruct...