Physical Security (Hardware, Software and Services) Market is Expected to Reach USD 125.03 Billion Globally in 2019: Transparency Market Research

Physical Security (Hardware, SoftwarePhysical Security (Hardware, Software and Services) Market is Expected to Reach USD 125.03 Billion Globally in 2019: Transparency Market Research PR Newswire ALBANY, New York, January 9, 2014 According to a new market report published by Transparency Market Research "Physical Security (Hardware, Software and Services) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global physical security market is expected to reach a value of USD 125.03 billion by 2019, growing at a CAGR of 14.9% from 2013 to 2019. The growing threats from terrorism and crime have resulted in increasing budget allocations for physical security by governments across the world. Moreover, government regulations demanding increased security levels is driving the adoption of physical security across several end-user sectors including industrial and business organizations. North America was the largest market in 2012 and accounted for around 34% share of the total physical security market followed by Asia Pacific. However, Asia Pacific is expected to surpass North America by 2015, owing to strong demand for physical security solutions in China, India, and Japan. Growth of physical security in the region is mainly spurred by increasing demand from India and China.