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Physical security market size in the retail sector to grow by USD 4.84 billion from 2022 to 2027 | Increasing incidents of theft to boost market growth- Technavio
Saturday, October 21, 2023
NEW YORK, Oct. 13, 2023 /PRNewswire/ -- The physical security market in the retail sector by type (hardware and software, and services), end-user (large enterprises and SMEs), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-202 report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the physical security market in the retail sector market between 2022 and 2027 is USD 4.84 billion. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy full report here
The increasing incidents of theft are driving growth in the physical security market. Retailers are highly investing in advanced surveillance systems provided with refined video analytics. In addition, the growth of e-commerce and omnichannel retailing has also exacerbated theft-related concerns which will drive the growth of the market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now
Market Challenge -
The high cost of physical security solutions is a challenge that affects market growth. The cost factor prevents retailers from embracing advanced security technologies, restricting their ability to stay ahead of evolving threats and exposures. As a result, in the retail sector, there is a gap in security capabilities, impeding the growth of the market during the forecast period.
The physical security market in the retail sector is segmented by type (hardware and software, and services), end-user (large enterprises and SMEs), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
-- The market share growth by the hardware and software segment will be
significant during the forecast period. The hardware and software play
an important role in protecting assets, improving operational
efficiency, and ensuring safety for employees and customers.
Additionally, the growing demand for integrated security solutions that
can seamlessly link and manage disparate devices and systems is driving
the adoption of software platforms that provide seamless management and
unified management and monitoring.
-- North America is estimated to contribute 33% to the growth of the global
market during the forecast period.
View Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the physical security market in the retail retail sector market:
ADT Inc., Allied Universal, ASSA ABLOY AB, Canon Inc., Cisco Systems Inc., Corps of Commissionaires Management Ltd., Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., Johnson Controls International Plc, Kastle Systems International LLC, KBR Inc., Motorola Solutions Inc., Robert Bosch GmbH, SECOM Plc, Securitas AB, Stanley Black and Decker Inc., WESCO International Inc., and Zhejiang Dahua Technology Co. Ltd.
Related Reports:
The physical security market size is estimated to grow at a CAGR of 6.85% between 2022 and 2027. The market size is forecast to increase by USD 46.29 billion.
The Customer Relationship Management (CRM) Outsourcing Market size is estimated to grow at a CAGR of 5.63% between 2022 and 2027.
Physical Security Market In The Retail Retail Sector Market Scope
Report Coverage
Details
Base year 2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR Accelerate at a CAGR of 7.15%
Market growth 2023-2027
USD 4.84 billion
Market structure
Fragmented
YoY growth 2022-2023 (%) 5.91
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market
contribution North America at 33%
Key countries
US, China, Japan, Germany, and UK
Competitive landscape
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
ADT Inc., Allied Universal, ASSA ABLOY AB, Canon Inc., Cisco Systems Inc., Corps of Commissionaires Management Ltd.,
Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd.,
Johnson Controls International Plc, Kastle Systems International LLC, KBR Inc., Motorola Solutions Inc., Robert Bosch
GmbH, SECOM Plc, Securitas AB, Stanley Black and Decker Inc., WESCO International Inc., and Zhejiang Dahua Technology Co.
Key companies profiled Ltd.
Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19
impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments
customized.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
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SOURCE Technavio
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