Physical Security Solutions Safeguarding World

Physical security has diverse applications across industries such as banking, healthcare, government, and commercial sectors. It encompasses access control, surveillance cameras, biometrics, alarms, and intrusion detection systems. These features protect assets, personnel, data, and facilities from unauthorized access, theft, vandalism, and potential threats. The main purpose of physical security is to create a safe environment, comply with regulations, prevent crime, and respond effectively to emergencies, ensuring the safety and protection of people and valuable assets.

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Data Bridge Market Research analyses that the Iraq Physical Security Market is valued at USD 274.56 million in 2021 and is expected to reach USD 504.44 million by 2029, registering a CAGR of 7.9% during the forecast period of 2022 to 2029. The increasing concerns over crime, terrorism, and vandalism have led to a growing demand for strong physical security solutions. Organizations and governments seek robust measures to safeguard people, assets, and critical infrastructure, prompting investments in advanced surveillance, access control, and intrusion detection systems to ensure safety and security.

Key Findings of the Study

Global events and terrorism is expected to drive the market's growth rate

Prominent incidents and worldwide security threats underscore the urgency for increased security precautions, spurring investments in physical security solutions. Such events create awareness about vulnerabilities, pushing organizations and governments to prioritize safeguarding people, assets, and infrastructure. This drives the adoption of advanced technologies like surveillance systems, access control, and intrusion detection, reinforcing protection against potential risks and bolstering overall security readiness.

Report Scope and Market Segmentation

Segment Analysis:

The Iraq physical security market is segmented on the basis of component, authentication, deployment model, enterprise size, and end user.

• On the basis of component, the Iraq physical security market is segmented into hardware, services, and software.
• On the basis of authentication, the Iraq physical security market has been segmented into single-factor authentication, two-factor authentication, and three-factor authentication.
• On the basis of deployment model, the Iraq physical security market has been segmented into on-premise and cloud.
• On the basis of enterprise size, the Iraq physical security market has been segmented into large sized enterprises and small and medium-sized enterprises.
• On the basis of end user, the Iraq physical security market is segmented into commercial, government, industrial, and residential.

Major Players

Data Bridge Market Research recognizes the following companies as the major Iraq physical security   market players in Iraq physical security   market are Thales (France), HID Global Corporation (U.S.), Bosch Sicherheitssysteme GmbH (Germany), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Pelco (A Motorola Solutions Company) (U.S.)

Market Developments

• In October 2021, Honeywell and IDEMIA joined forces to create innovative intelligent building solutions. The partnership integrated Honeywell's security and building management systems with IDEMIA's biometric-based access control systems, resulting in advanced products for building access.
• In August 2020, Motorola Solutions completed the acquisition of Pelco Corporation for USD 110 million, aiming to enhance their video management solutions globally. With this acquisition, Pelco became a principal subsidiary in the physical security market for Motorola Solutions. The collaboration allowed both companies to strengthen their market presence and expand their consumer offerings with innovative and comprehensive solutions for physical security, catering to the evolving needs and demands of customers worldwide.
• In July 2021, Hexagon AB acquired Immersal, a subsidiary specializing in visual positioning and mapping systems. This acquisition empowers Hexagon AB to leverage augmented reality technologies, enhancing efficiency, time-saving, public safety, safety protocols, and physical security measures.
•  In May 2021, Johnson Controls forged a collaboration with DigiCert, Inc., a prominent PKI solutions provider. This partnership aims to introduce cutting-edge digital and physical security solutions to buildings. Through this alliance, Johnson Controls can deliver secure connectivity and elevated security measures to its clientele by harnessing DigiCert's sophisticated PKI technology.
• In February 2022, Hangzhou Hikvision Digital Technology Co., Ltd., a leading supplier of video surveillance equipment, unveiled the Hikvision AX PRO wireless external Tri-tech detector and dedicated camera. This innovative product offering ensures accurate detection and high-quality imaging for small businesses and home-based workers, enhancing alarm safety through its modular design.

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