Iraq Physical Security Market – Industry Trends and Forecast to 2029

Iraq Physical Security Market Analysis and Size

Physical security measures protect buildings and the equipment within. In other words, they barricade trespassers from entering and permit authorized ones to do so. While network and cybersecurity are crucial, guarding against physical security lapses and threats is the only way to ensure the safety of the technology, the data, and any staff or faculty with access to the facility. It offers defense against terrorism, fire, robbery, vandalism, and natural calamities.

Data Bridge Market Research analyses that Iraq physical security market is expected to reach the value of USD 504.44 million by 2029, at a CAGR of 7.9% during the forecast period. The physical security market report also comprehensively covers pricing, patent, and technological advancements.     

Market Definition

Physical security is a security service that aims to protect personnel, hardware, software, networks, and data from physical actions and events that could cause severe loss to an organization, enterprise, agency, or institution. These security services include protection from fire, flood, natural disasters, burglary, theft, vandalism, and terrorism. Security personnel, CCTV cameras, locks, safety barriers, access control protocols, and other similar tools are all included in its various layers, which incorporate interdependent systems.

Iraq Physical Security Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:

Drivers

• Emergence of smart interconnected building/home

Recently, the popularity of smart homes/buildings has grown among consumers. A smart home/building is a residence that uses internet-connected devices to enable remote monitoring, access control solutions, and management of appliances & systems, such as smart lighting, smart locks, smart biometrics, and others.

Moreover, smart home devices are efficient and energy-saving, reducing energy bill payments. Smart home devices, due to their innovative features, in-built motion detectors, internet connectivity, and control through smartphones, laptops, and other devices, make the consumer feel safe, comfortable, and secure.

• Rapid growth in the importance of physical biometric solutions across all sectors

Biometric-based physical security devices are increasing across all regions of the globe. The fingerprint, physical access control system, video surveillance system, and facial recognition system are integrated with electronic devices such as laptops, mobiles, and other smart handheld devices. The smart approach also uses these access control door locks, security systems, home automation, IoT, automotive, game consoles, and mobile devices.

With an access control door lock, a person can quickly identify and access the house or organization by enhancing security features. The companies are performing many research activities to incorporate the advanced physical biometric system into the devices for security.

Opportunity

• Rise in strategic partnership and acquisition among organizations for physical and cyber security system

Coordinating and investing in projects is essential for achieving sustained improvements in the physical security market. Due to this, the government and other private organizations are striving through partnerships and acquisitions, thereby accelerating the growth of the industries. This helps to build awareness and profit for the organization, thereby creating scope for a new invention in the industry. Also, the company can invest more in advanced technologies to provide more secure and reliable physical security market services and solutions through partnerships.

Expanding the business could connect more people to the company's products and services. They will be able to convert more clients and boost their sales by expanding the customer base. This helps make awareness, increases the organization's profit, and creates scope for sustainable growth. Furthermore, this allows the company to get recognized in the premium market.

Restraints/Challenges

• Rise in cyber security threat and ransomware in physical and cyber security solutions

Due to COVID-19, cybercrime and cybersecurity issues increased by 600% in 2020. Flaws in network security are a weakness that hackers exploit to perform unauthorized actions within a system. According to Purple Sec L.L.C., in 2018, mobile malware variants for mobile have increased by 54% 2018, out of which 98% of mobile malware target Android devices. 25% of businesses are estimated to have been victims of crypto-jacking. Various companies also include the security industry.

• Complexity associated with the integration of various physical security systems

Integrating security systems involves combining logical and physical security applications, such as biometric identity programs and access control, into a single, all-encompassing plan. For instance, if the access control and intrusion alarm systems are linked, the access control system can be programmed to lock down a facility based on the type of alarm sounds when the system determines an intruder. However, one has to buy all the components from the same vendor. If the vendor provides only minimal support, customers could become saddled with a system that does not meet their needs. Also, redesigning and redeploying web- and mobile-based applications can become exhaustive and time-consuming.

Post-COVID-19 Impact on Iraq Physical Security Market

COVID-19 negatively impacted the physical security market due to lockdown regulations and the shutdown of manufacturing facilities.

The COVID-19 pandemic has impacted the physical security market to an extent positive manner. The surge in demand for video surveillance systems in various industries worldwide has helped the market grow during the pandemic. Also, the growth has been high since the market opened after COVID-19 owing to the increasing adoption of access control protocols in a commercial and industrial environments.

Solution providers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology involved in physical security. With this, the companies will bring advanced technologies to the market. In addition, government initiatives to use automation technology have led to the market's growth.

Recent Developments

• In October 2021, Honeywell and IDEMIA partnered to develop intelligent building offerings. Under the partnership, products had been set for building access which integrated Honeywell security and building management systems with IDEMIA's biometric-based access control systems. This helped the company diversify its product portfolio and gain a new market in the building access control market
• In August 2020, Motorola Solutions acquired Pelco Corporations for USD 110 million. This acquisition aimed to take the video management solution offered by Pelco international. Further, Motorola Solutions made Pelco Corporation one of the principal subsidiaries in the physical security market. Through this, both companies further enhanced their market presence by offering innovative solutions for the consumer

Iraq Physical Security Market Scope

Iraq physical security market is segmented based on component, authentication, deployment model, enterprise size, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Hardware
• Services
• Software

On the basis of component, the Iraq physical security market is segmented into hardware, services, and software.

Authentication

• Single-factor authentication
• Two-factor authentication
• Three-factor authentication

On the basis of authentication, the Iraq physical security market has been segmented into single-factor authentication, two-factor authentication, and three-factor authentication.

Deployment Model

• On-premise
• Cloud

 On the basis of deployment model, the Iraq physical security market has been segmented into on-premise and cloud.

Enterprise Size

• Large sized enterprises
• Small and medium-sized enterprises

On the basis of enterprise size, the Iraq physical security market has been segmented into large sized enterprises and small and medium-sized enterprises.

End User

• Commercial
• Government
• Industrial
• Residential

On the basis of end user, the Iraq physical security market is segmented into commercial, government, industrial, and residential.

Iraq Physical Security Market Regional Analysis/Insights

Iraq physical security market is analysed, and market size insights and trends are provided by the country, component, authentication, deployment type, enterprise size, and end user, as referenced above.

The country section of the report also provides individual market impacting factors and changes in market regulation that influence the current and future trends of the market. Data points like downstream and upstream value chain analysis, technological trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Iraq brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Iraq Physical Security Market Share Analysis

Iraq physical security market competitive landscape provides details by the competitor. Components included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Iraq presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus on physical security market.

Some of the major players operating in the Iraq physical security market are Thales, HID Global Corporation, Bosch Sicherheitssysteme GmbH, Hangzhou Hikvision Digital Technology Co., Ltd., Pelco (A Motorolla Solutions Company), Cisco Systems, Inc., Axis Communications AB, Johnson Controls, Aware, Inc.,  IDEMIA among others.

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