Reportedly, the government of Chile in September 2019, announced an investment program Chile Sobre Rieles, worth US$5 billion to upgrade and expand the country's railway network. Growing expenditure to upgrade the existing security measures in the tourism sector, due to the high percentage of tourists visiting the nation will positively influence the demand for physical security equipment. Latin America physical security industry will expand considerably, owing to the substantial growth of the industrial sector and regional economic condition. Infrastructure investment programs in Latin America Such robust security features of these systems ensure the holistic safety of assets as well as people. The integration of video surveillance systems with other smart home devices can send security alerts on the user's smartphones about any intrusion. For example, nearly 50% of the total population in Australia had adopted some sort of smart home technology till 2020.
A vast number of smart homes are increasingly deploying security solutions. The IoT integrated physical security systems provide remote access control to individuals to monitor the safety of elderly people, children, and pets. For example, access control solutions, video surveillance cameras, and intruder detection systems can be interconnected with the help of IoT and controlled remotely. This has generated a significant demand for physical security systems that can be integrated with the elements of IoT devices. Several smart homes and construction projects are deploying IoT architecture to establish robust interconnection between various security devices and their control units. The flourishing residential sector across the globe will generate exponential demand for physical security solutions. High deployment of security systems in smart homes These systems are highly equipped with advanced technologies that efficiently identifies authorized employees with chip-based access cards, biometrics, and other identifications and deny any unauthorized access to the premises. High incorporation of access control systems eliminates the requirement of security personnel at the entry gate, which facilitates enterprises with a reduced cost of security deployment. Rising demand for access control systems that only allow entry of authorized employees in the premises will augment the physical security industry growth. Strong demand for access control systems in enterprises These participants are focusing on the integration of biometrics into various access control solutions, allowing authorized access via iris, facial, or fingerprint recognition.īelow stated are some trending factors propelling high demand for physical security solutions. Key players operating in the physical security market comprise Panasonic Corporation, Thales Group, Bosch Security Systems, Inc., STANLEY Security, Analogic Corporation, OSI Systems, Inc., and others. Further, the installation of these systems eliminates the requirement for security personnel at entry gates as employees can be accorded with cards that undergo scanning at the entry and exit points. These systems make sure that only authorized employees enter the premises. This upsurge is attributed to the escalating demand for access control systems from various corporate enterprises. On this note, the global physical security market share is estimated to exceed USD 150 billion by 2027, according to the latest research by Global Market Insights, Inc. Such developments are touted to boost the demand for different types of physical security systems, stimulating industry outlook over the analysis period.
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