Northbrook, IL 60062 -- (SBWire) -- 11/23/2023 --The North America Physical Security Market size is projected to grow from USD 37.4 billion in 2021 to USD 48.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period, according to research report by MarketsandMarkets™.
Major driving factors for the North America physical security market include rise in security breaches, fraud, and data identity thefts, surge in use of BYOD/ IoT devices, high demand for cloud-based physical security solutions and services, high volume of online transactions, increasing use of IP-based video surveillance camera systems, and stringent government regulations.
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Key and innovative vendors in the North America physical security market include ADT (US), Cisco (US), Honeywell (US), Johnson Controls (Ireland), TELUS (Canada), Anixter [WESCO] (US), Genetec (Canada), Bosch Building Technologies (Germany), STANLEY Security (US), GardaWorld (Canada), Convergint Technologies (US), Bell Canada (Canada), Paladin Security (Canada), DSC (US), DMP (US), Telsco (Canada), Axis Communication (Sweden), Hanwha Techwin America (US), FLIR Systems (US), Qolsys (US), Chubb Fire & Security (UK), Alarm.com (US), Avigilon (Canada), Tyco (Ireland), ICT (New Zealand), AMAG Technology (US), PTI Security Systems (US), Kantech (US), Feenics (Canada), Brivo (Canada), Exacq Technologies (US), SightLogix (US), Kairos (US), Immix (US), IOTAS (US), Verkada (US), Openpath (US), SmartCone Technologies (Canada), Cloudastructure (US), and Qognify (US).
These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the North America physical security market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2021 to innovate their offerings and broaden their customer base.
ADT provides monitored security, interactive home and business automation, and related monitoring services in the US. The company's monitored security and home/business automation offerings include the installation and monitoring of residential and business security, and premises automation systems designed to detect intrusion, control access, and react to movement, smoke, carbon monoxide, flooding, temperature, and other environmental conditions and hazards and to address personal emergencies, such as injuries, medical emergencies, or incapacitation.
The company also provides various alternate and backup alarm transmission methods, including cellular and broadband internet, monitoring of center-supported personal emergency response system products and services, and customer service for maintenance and installation of upgraded or additional equipment. In October 2019, ADT signed an agreement to sell ADT Security Services Canada to Telus Corporation for approximately CAD 700 million. The transaction comprises all of ADT Canada's operations and assets.
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TELUS is one of the leading national telecommunications and IT company headquartered in Canada. The company has been delivering various innovative telecommunications solutions to Canadian enterprises for more than 100 years. Its annual revenue in 2020 is USD 16 billion with 15.2 million customer connections spanning wireless networks, wireline network access lines, data, Internet Protocol (IP), voice, entertainment, video, security, and television. It delivers a compelling range of products and services for small, medium, and large businesses; and has carved out a leadership position in the health, energy, finance, agriculture, and public sectors with innovative industry-specific solutions. TELUS provides a comprehensive range of communication products and services, which include IP, data, voice, video, and the internet. Telus caters to two business segments: wireline and wireless. The wireless segment includes wireless internet services, digital communications services, and equipment sales.
The wireline segment includes voice local, long-distance, data, and other telecommunications services. In October 2019, TELUS acquired home security provider ADT Inc's Canadian operations for CAD 700 million (USD 527.27 million). As a response to COVID-19, TELUS has donated USD 150 million to COVID-19 relief funds, USD 10 million to support public healthcare, and USD 535,000 to TELUS Friendly Future Foundation.
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North America Physical Security Market Latest Trends, Scope, Opportunities, and Growth Factors : A Global Forecast to 2026
This research report categorizes the North America Physical Security to forecast revenues, analyze trends, component, systems, services, organization size, vertical, and country.