Physical security market estimated at almost $138 billion by 2028

The global physical security market size is expected to reach USD 137.99 billion by 2028 according to a new study by Polaris Market Research in a new report which gives a detailed insight into current market dynamics and provides analysis on future market growth.
Significant factors of the market such as increasing smart city projects by the government deploying various physical security systems coupled with the improving infrastructural development with the robust access control measures are impelling the market demand. In addition, growing awareness regarding the availability of numerous IP-based cameras for video surveillance is further boosting the market demand across the globe.
Based on end-use, the residential segment holds the largest share globally. This is, according to Polaris, due to rising concern for safeguarding lives and protecting assets from any potential risks. The transportation segment is projected to rise at the second-fastest CAGR over the forecast period due to the growing demand for the equipment to be deployed in the overseeing of traffic congestion and monitoring crowds.
G4S, Anixter, Axis Communications, Cisco Systems, Dahua Technology, Genetec, ADT, Hikvision Digital Technology, Stanley Convergent Security Solutions, Honeywell International, Pelco, Dahua Technology, Robert Bosch, Johnson Controls are some of the key players operating in the global market.