In today’s world, the importance of ensuring security should never be underestimated. According to Research Nester, as of 2023, 76% of companies regard security as one of their utmost concerns. Failing to implement safeguards exposes both individuals and organisations to a range of risks, such as theft, vandalism and even acts of terrorism. Surprisingly statistics show that within the five years alone, approximately 60% of companies have encountered breaches in their physical security measures.
Additionally, in a world where cybercrime and digital threats are on the rise, it’s important not to overlook the tangible dangers that exist in our physical surroundings.
Growth of Physical Security
Physical security has been steadily growing. One of the market drivers is smart cities, which use different kinds of Internet of Things (IoT) sensors to collect data and manage assets and security.
As of 2022, 32% of companies have implemented access control systems as part of their physical security measures. These systems encompass methods, including biometric scanners, keycard systems, locks and keys, and advanced technologies like facial recognition and biometric authentication.
Surveillance: Surveillance systems play an essential role in keeping an eye on activities within a given area and preventing potential dangers. For example, the U.S. Bureau of Labor Statistics reported an increase in the number of installed surveillance cameras in the United States from 2015 to 2018, with numbers rising by almost 50 % from 47 million to 70 million. CCTV cameras, video analytics and security personnel work together to ensure vigilance over vulnerable areas.
Perimeter Security: Securing a facility’s perimeter is extremely important to avoid any access. According to data as of 2023, around 26% of companies have taken measures to enhance physical security by implementing security fencing, gates and barriers. These physical deterrents like fences, walls, barriers and bollards effectively discourage intruders and buy time for security personnel to respond promptly.
Security Personnel: Trained security personnel play a role in safeguarding various organizations. Whether it’s security guards, receptionists or concierge staff, their visible presence serves as a deterrent to criminals and instils a feeling of safety among those within the premises. Presently there are more than 820,140 security guards employed across the United States.
Alarms and Sensors: Physical security relies on components such as intrusion detection systems, motion sensors and alarms. These components play a role in alerting personnel to potential threats and facilitating swift response measures.
Emergency Preparedness: In addition to ensuring the safety of individuals, physical security also encompasses preparations for events like natural disasters, fires or situations involving an active shooter. It involves establishing evacuation routes implementing emergency response protocols, and developing crisis management plans. According to data from WHO, it is reported that 83% of high-risk countries have interagency preparedness plans in place.
Rising Significance of Physical Security
With the increasing worries about security across the globe, it is evident that the field of Physical Security is experiencing significant growth. According to a report by Research Nester, the global physical security market is projected to witness a Compound Annual Growth Rate (CAGR) of 8.03% by the year 2028. The primary objective of security is to safeguard individuals, properties and tangible assets from potential harm or loss caused by various actions or incidents.
- Protection of Assets: Physical security is crucial for protecting assets such as equipment, inventory, intellectual property and sensitive data. It helps minimise the chances of losses and disruptions to operations.
- Personal Safety: Ensuring the well-being of employees, customers, and visitors is important. Creating an atmosphere promotes trust, efficiency, and a favourable image.
- Mitigating Risks: Taking steps to discover and handle vulnerabilities by implementing security measures can effectively decrease the chances of security breaches and potential threats.
- Compliance and Legal Requirements: Numerous sectors and companies have legal obligations and rules concerning physical security. Adhering to these standards is crucial to prevent penalties and uphold trustworthiness.
Physical security plays a vital role in our everyday lives as it involves safeguarding people, assets, and information. You can learn more about the Global Physical Security Market here.