Increasing Terrorism Fueling Sales of Physical Security Systems in Asia-Pacific

With the sharp rise in terrorism and security concerns, the demand for physical security solutions is growing rapidly in the Asia-Pacific (APAC) region. Moreover, the increasing security concerns are making various regional countries such as China, India, Vietnam, Indonesia, and Singapore deploy physical security devices and equipment, especially video surveillance systems.

There were over 300 terrorist attacks in APAC between 2012 and 2018, with Afghanistan and Pakistan reporting the highest number of terrorist attacks in the region during that period. Besides the increasing threat of terrorist attacks, the rising prevalence of crimes is also propelling the demand for physical security systems in the APAC region.

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For example, in China, there were 39,230 robberies, 3,459,742 thefts, and 7,990 homicide cases reported in 2017. Similarly, Malaysia witnessed 379 homicide cases, 42,160 vehicle thefts, 16,200 house break-ins and thefts, and 14,128 robberies in 2017. On the other hand, in Australia, there were 679 homicides, 41,669 thefts, and 3,796 robberies reported in 2018.

Due to the above-mentioned factors, the sales of physical security systems are surging sharply in the Asia-Pacific (APAC) region. This is, in turn, driving the advancement of the APAC physical security market. As a result, the valuation of the market is predicted to grow from $26.3 billion in 2018 to $57.9 billion by 2024. Furthermore, the market is predicted to advance at a CAGR of 14.3% between 2019 and 2024.

This market research report provides a comprehensive overview of the market

Future potential of the market through its forecast for the period 2020– 2030
Major factors driving the market and their impact during the short, medium, and long terms
Market restraints and their impact during the short, medium, and long terms
Recent trends and evolving opportunities for the market participants
Historical and the present size of the market segments and understand their comparative future potential
Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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