target audience: TECH SUPPLIER Publication date: Aug 2023 - Document type: Market Forecast - Doc Document number: # US51161623
Worldwide Physical Security Technology Forecast, 2023–2028: Physical Security Technology Market Growing in Response to Increasing Desire to Leverage Business Telemetry
This IDC study provides a broad-brush estimation of the physical security technology market size and provides a basis for estimating market growth. It includes software, hardware, and services as well as the key storage and control components necessary to enable physical security technology. Although the areas of focus are not exhaustive, the primary drivers of market growth are covered. This document is a useful adjunct to vendor market planning, especially for vendors desiring to expand their footprint in the rapidly expanding physical security technology market.
"The physical security technology market is primed for substantial growth as physical security infrastructure increasingly underpins building and facility automation," according to Mike Jude, research director, Video Surveillance and Artificial Intelligence Video Analytics, at IDC. "Physical security technology transcends simple access control and video surveillance. It is evolving to include aspects such as physical security platforms, various sensors, and advanced cross-domain analytics based on AI. Vendors in this space will need to pursue planning for the eventual integration of their solutions into this larger ecosystem."