In a newly published report, the global physical security market size is projected to grow from USD 110.2 billion in 2023 to USD 136.9 billion by 2028 at a CAGR of 4.4% during the forecast period. This is all according to research company Marketsandmarkets, whose analysts suggest that growth in the use of IP-based cameras for video surveillance and the rise in instances of malicious activities and security breaches to physical systems are driving the growth of the physical security market.

Managed Services

Effective management of business processes in contemporary corporate contexts requires the adoption of proven approaches across organisations. Organisations are forced to outsource some tasks since maintaining internal services requires more time, there aren’t enough resources, and it costs more money. Managed service providers offer to guarantee the protection of important corporate data as well as the efficiency of business processes. Customers are assisted by managed service providers to maintain their hardware, software, physical security systems, and solutions up to date with the most recent improvements. Customers’ internal capacities are increased when MSPs protect their physical assets and IT system assets.

Access Control as a Service Shows Market Strength

The demand for ACaaS is rising across verticals because of its distinguishing characteristics, such as remote management, scalability, real-time control, data security, and secure communications. The importance of access control lies in its ability to bolster the overall security posture of an organisation, providing a flexible and scalable solution to meet specific needs, enhance operational efficiency, and ensure the safety of personnel and valuable assets.

Asia Pacific’s Strongest Region

Due to the region’s rising crime rate, physical security solutions are quickly gaining popularity across Asia and the Pacific. Security-related worries are becoming more prevalent, particularly in China, Malaysia, Australia, and India. Therefore, the government of several of these nations is encouraging the implementation of physical security measures to manage such a circumstance. Countries such as China have invested heavily in smart city programmes, and according to Marketsandmarkets, it is planning to spend USD 39 billion on smart cities. Smart cities heavily rely on physical security solutions, which is also driving the physical security market in the region.

Major Players

Some of the key players mentioned in the report as active in this sector include Johnson Controls, Bosch, Honeywell, Cisco, Telus, Wesco, Genetec, HID global, Pelco, HIkvision, Gallagher, Secom, Allied Universal, Dahua, Axis, Hanwha Vision, Teledyne Flir, Hexagon, General Dynamics, BAE Systems, Huawei, NEC and others.

The global cyber security market size is projected to reach USD 500.70 billion by 2030, registering a CAGR of 12.3% from 2023 to 2030, according to the latest estimates from Grand View Research.

The researchers expect the global market to be driven by growing cyber threats and advanced malware threats across different verticals. In recent years, disruptive and emerging technologies in the banking, retail, information technology, defence, and manufacturing sectors have provided new capabilities, facilitated automation, and improved working conditions. They have, however, emerged as powerful forces in the evolution of the global threat landscape of exploits, vulnerabilities, and malware.

Advancements in emerging technologies, such as Artificial Intelligence (AI), Machine Learning (ML), big data analytics, Internet-of-Things (IoT), 5G, edge computing, and cloud computing, are allowing market players to introduce new solutions based on these technologies, attract potential business clients, and expand their revenue streams.

Digitalisation Is Boosting Investment

 For instance, in April 2023, Google, Inc. introduced Cloud Security AI Workbench, Sec-PaLM. This new model encompasses various security intelligence, such as threat indicators, & research on software vulnerabilities, and offers AI-powered tools to assist and act on cyber security threats.

The ongoing digitalisation wave has resulted in significant changes in the telecom sector. Telecom companies are investing in the latest technologies, such as 5G, IoT, and cloud, which are expected to generate enormous opportunities for the IT & telecom cybersecurity market. As the BYOPC model of remote control and business (Bring-Your-Own-PC) expands with a significant increase in the number of edge devices, content migration and device management will require a more rigorous approach, which will further encourage the adoption of integrated cyber security solutions.

The cloud segment is expected to register a CAGR of 13.0% from 2023 to 2030. The shifting end-user companies’ focus toward cloud-based solutions owing to minimum hardware requirements, low operating costs, and diverse solution availability is supporting segment growth. The market players are establishing strategic partnerships with cloud technology providers to develop DDoS protection solutions. The research suggests that the cloud security segment is anticipated to register a CAGR of more than 15.0% from 2023 to 2030.

ASSA ABLOY Opening Solutions EMEIA has acquired Kinetron, a leading specialist in motion-based energy harvesting systems for self-powered products, as part of its efforts to accelerate growth and continue its journey as a leader in digital access solutions.

“Kinetron is a strategic technological addition to the ASSA ABLOY Opening Solutions EMEIA division and will reinforce our offering in energy harvesting locking solutions that are energy efficient, maintenance free and environmentally friendly. It will provide complementary growth opportunities for our digital access solutions business segment, where we drive innovation to deliver profitable sustainable growth,” says Neil Vann, EVP & Head of ASSA ABLOY Opening Solutions EMEIA.

“Kinetron brings 35 years of experience in developing and manufacturing motion-based energy harvesting systems that enable self-powered intelligent products and facilitate the growth of electronic and IoT solutions in a sustainable way. Their mission of ‘Energy Harvesting Excellence’ comes together nicely with our vision for Digital Access Solutions (DAS) to create an access control ecosystem, that connects all our Assa Abloy hardware through one interface in a sustainable way, so we can continue to improve people’s lives even further,” says David Moser, SVP & Head of Digital Access Solutions EMEIA.

Kinetron was established in 1984, with its main office located in Tilburg, Netherlands.

Quanergy Solutions, a leading provider of 3D Lidar security solutions, has established a strategic partnership with Teledyne FLIR, a global leader in designing, manufacturing, and marketing thermal imaging infrared cameras. This collaboration offers a seamlessly integrated solution that stands uniquely poised to tackle intricate security challenges faced by critical infrastructure environments, including utilities, data centres, and airports.

These locations often feature uneven terrain and numerous obstacles, compounded by inadequate lighting conditions that hinder situational awareness. In response, users have histerically increased the sensitivity settings on their existing systems, resulting in a surge of false alarms and costly on-site guard services. Quanergy’s Q-Track is a seamlessly integrated solution that combines Quanergy’s long-range 3D Lidar sensors with advanced perception software. This solution provides users with hyper-accurate 3D intelligent proactive awareness to reduce false alarms and save lives.

The FLIR Elara DX-Series multispectral pan/tilt/zoom (PTZ) security camera provides full situational awareness in the most punishing environments. Combining thermal and visible light imagers, the Elara DX-Series gives operators the ability to monitor large areas in complete darkness, glaring light, and adverse weather. Multispectral cameras’ detection and identification capabilities help integrators provide solutions for challenging imaging problems at critical infrastructure sites and remote facilities.

This new integration allows Q-Track to send object location, both relative and absolute, to a FLIR thermal camera such as the DX-Series PTZ camera which combines thermal and visible light images. This enables a ‘Slew to Cue’ event-to-action workflow where the camera, powered by the actionable intelligence from the Lidar system can continuously track a bad actor throughout the entire perimeter of a site, regardless of the harsh weather conditions or bad/no lighting.

Thanks to Q-Track’s innovative object stitching mechanism the solution can also track objects in areas that have a lot of obstacles. Multiple Quanergy sensors can be stitched together to form a mesh network where an object’s information can be passed from sensor to sensor so that users never lose sight of any potential threats.

Matt Strautman, Director, of Global Business Development – Security, Teledyne FLIR, said: “The partnership with Quanergy gives us the opportunity to present a complete solution in specific areas where we cannot use our sensors for detection. The combination of our two sensors not only helps with threats of intrusion but improves safety by quickly locating and tracking targets in all types of dangerous situations/terrains/areas.”

Securitas has signed an expanded 5-year agreement to provide data centre security for Microsoft in 31 countries, solidifying a strong relationship.

Securitas has been delivering security solutions for Microsoft since 2005, building a foundation of trust and collaboration. The global agreement, which began in November 2016, includes risk management, comprehensive security technology as a system integrator, specialised safety, and security resources, guarding services and digital interfaces, as well as global account management.

The agreement, effective from July 1, 2023, reflects Securitas’ commitment to mutual success. With shared values centred on trust, ethics, and sustainability, Securitas builds on a stable foundation for providing exceptional services while promoting a secure and inclusive environment.

“Securitas and Microsoft are a great match”, continues Magnus Ahlqvist, President and CEO of Securitas. “We have developed a strong relationship with Microsoft over the years thanks to our extensive global presence, industry expertise, and solid governance. Through our consistent dedication, we have gained insight into their requirements, enabling us to deliver exceptional security solutions.”

Looking ahead, Securitas has outlined long-term goals for the collaboration. Innovation and the integration of technology are key focus areas for Securitas to achieve an optimal balance between guarding and advanced security solutions.

“Trust is paramount in our industry”, says Mark Plesnicher, Head of Datacenter Physical Security, Microsoft. “We are confident that Securitas will ensure that our data centre physical security programme remains innovative, robust, and effective. They have demonstrated stability as a collaborator, assisting us in navigating the challenges of our swiftly expanding business. We recognise the value of our relationship with Securitas and anticipate its future growth.”

This expanded contract between Securitas and Microsoft marks an important milestone in their relationship. With a shared vision, strong cultural alignment, and unwavering commitment to excellence, Securitas and Microsoft are poised to achieve great accomplishments together.

HID Global has made public its intent to acquire Evolis, a prominent manufacturer of card printers and related supplies. This strategic move merges two key players in the desktop printer market, enriching HID’s printer portfolio, expanding its geographic influence, and augmenting its capacity to cater to diverse industry needs.

Evolis specializes in the creation, production, and distribution of printers and software for personalizing physical credentials. With an established network of partners, Evolis has secured a robust global position in instantly issuing physical credentials, including ID cards, access control badges, payment cards, and personalized credentials.

The proposed purchase price for a full acquisition of Evolis stands at EUR 228.6 million, translating to EUR 43.75 per share of Evolis.

Björn Lidefelt, EVP and Head of HID, expresses excitement about this prospect, stating, “I am looking forward to welcoming Evolis into the HID family. Joining forces with a strong industry player like Evolis would enable us to better meet our customers’ needs and provides complementary growth opportunities across product, geographical, and vertical market presence.”

Evolis History

Founded in 1999 and headquartered in Angers, France, Evolis is recognized for its printers and software dedicated to personalizing physical credentials. Employing around 380 individuals, the company operates an efficient manufacturing facility spanning 110,000 square feet. Its established distribution network has solidified its position as a global leader in instant issuance of physical credentials across various sectors. Evolis’ revenue primarily stems from card printers and supplies, supplemented by software offerings such as Cardpresso, Badge Studio, and Edikio. The company also produces printers tailored for kiosk compatibility, a factor that aligns with HID’s expansion goals.

Craig Sandness, SVP and Head of Secure Issuance at HID, emphasizes, “Incorporating Evolis into HID’s Secure Issuance business would reassert our expansion and commitment to leading the desktop printer space. Thanks to Evolis’ strong knowledge of the market, as well as its highly complementary product offering, we look forward to enhancing our offerings to meet a growing population of customers across industries and locations.”

Evolis and HID: Synergistic Advancement

The plan is for Evolis to join HID’s Secure Issuance Business Area, under the leadership of Craig Sandness, operating as its distinct Business Unit. Evolis would leverage HID’s sales and global functions to amplify its offerings.

Emmanuel Picot, Co-Founder and President of Evolis, envisions promising prospects in this collaboration, stating, “Since 1999, our ambition has been to be and continue to be the global leader in decentralized printing of personalized cards. Together, we look forward to creating even more value for our customers, combining our expertise and know-how to create new development opportunities. This would be a big step forward for Evolis, and we are very excited at the prospect of joining HID with the ambition of being stronger together.”

The smart stadium market is projected to grow from $14.3 billion in 2023 to a remarkable $34.5 billion by 2028, boasting a Compound Annual Growth Rate (CAGR) of approximately 19.2%, according to the latest data coming from researchers at Marketsandmarkets.

This exponential growth is primarily propelled by remarkable advancements in Internet of Things (IoT) technology, data analytics, cloud computing, and the proliferation of mobile applications. An imperative catalyst is the pressing need for optimizing venue operations, crowd management, and security, all of which converge to drive better resource allocation and cost savings for stadium management.

Services Segment Driving Growth

 The services segment within this market is expected to outpace others in terms of growth, encompassing consulting services, deployment and integration solutions, and support and maintenance services. This upward trajectory is substantiated by an increasing demand for enhanced operational efficiency, sustainability measures, and adaptability to the ever-evolving landscape of business dynamics. Consequently, smart stadium services are being embraced with enthusiasm across diverse geographical regions.

A pivotal pillar of the smart stadium ecosystem, network management platforms, are garnering significant attention. These platforms establish seamless communication channels that interconnect stadiums, the workforce, and fans. This seamless connectivity ensures users have access to IT services anytime and anywhere. Notably, these platforms empower network administrators to promptly detect network failures and real-time issues, enabling swift resolution by notifying support personnel. The intensifying frequency of global sporting events has catalyzed the demand for robust and efficient data networks, crucial for the seamless execution of daily stadium operations and management.

Pivotal Role of Network Management Platforms

 The support and maintenance sector occupies a strategic niche, providing vital services to ensure uninterrupted functionality and continuous improvements for smart stadium devices. The impetus behind this sector’s growth stems from a confluence of factors, including the pursuit of amplified profitability, enriched fan experiences, streamlined communication channels, and bolstered stadium infrastructure. A key driver in this context is the necessity for technical expertise to guarantee heightened reliability and minimal downtime, further augmenting the growth trajectory of this sector.

A vibrant growth avenue within this landscape is the domain of digital content management. The escalating adoption of web-based digital solutions and services by stadium operators has contributed to the rapid growth of this market segment. The seamless integration of internet resources and sports analytics is propelling stadium operators to leverage mobile apps and web services to enhance the overall fan experience, resulting in heightened engagement and satisfaction.

The global outlook underscores Europe as a frontrunner in the smart stadium market. This region’s growth trajectory is sustained by proactive funding policies at both European Union (EU) and individual state levels. European sports organizations are proactively embracing smart stadium solutions to remain competitive. Notably, countries like the UK, known for their football and cricket fervor, are making substantial investments to preserve their competitive edge within the industry. Various European governments have initiated ambitious research and development ventures, seeking to transform traditional stadiums into cutting-edge smart facilities by integrating IoT solutions and harnessing the power of 5G connectivity.

Among the key players driving this evolution, prominent names include IBM, Ericsson, Intel, NTT, Tech Mahindra, Johnson Controls Siemens, Honeywell, Cisco, NEC, Huawei, Schneider, NXP Semiconductors, Atos, Verizon, AT&T, Vodafone, T-Mobile, Telefonica, VIX Technology, Hawk Eye, Ucopia, Allgovision, Aifi, Pixellot, Locbee, Dignia, and GP Smart Stadium. This consortium of industry leaders is collectively steering the transformation of stadiums into intelligent hubs that not only host sports and events but also provide a futuristic, connected experience for all stakeholders involved.

According to Adroit Market Research, the market for access control was estimated to be worth USD 10 Billion in 2023, and by 2029, it is anticipated to grow to USD 15 billion, with a CAGR of 8.5%. Cloud-based access control solutions are gaining popularity quickly due to their adaptability, scalability, and cost.

Access control is a top priority for organissations in a variety of sectors, including government, business, industrial, and residential, in response to the growing number of security risks and events. The need for access control is being driven by the requirement for effective access control methods to stop unauthorised access, data breaches, and security breaches. The analysts found that access control is becoming more popular as a result of strict legal requirements and standards relating to security and data protection. Regulations like the Health Insurance Portability and Accountability Act (HIPAA), General Data Protection Regulation (GDPR), and Payment Card Industry Data Security Standard (PCI DSS) must be followed in sectors including healthcare, banking, and government.

Service providers have the chance to provide access control as a service (ACaaS), allowing businesses to use cloud-based access control solutions rather than spending money on on-premises hardware. Mobile-based access control service offer simplicity and flexibility in light of the ubiquitous usage of cell phones. Businesses may give customers mobile credentials for secure, contactless access by utilising mobile technologies like Bluetooth, near-field communication (NFC), or QR codes. The potential is in creating mobile access control applications that are simple to use and integrating them with current access control applications.

Access control is a mature industry in North America, driven by strict compliance regulations and high-security standards. Advanced technologies including biometrics, mobile access control, and cloud-based solutions have prospects in the region. Access control is being more widely used in industries including government, banking, and healthcare, opening up new opportunities for market growth.