Smart physical safety systems are the safeguards of life & property. These systems include video surveillance software, IP cameras, and access control systems that provide greater convenience and flexibility to consumers. These systems have specific security advantages such as monitoring activities in residential or commercial areas, keeping records for information, and empowering countries against external threats & terrorism at different locations.
Smart physical safety systems are deployed in various applications including transportation, healthcare, energy & utility, defense, government, telecommunication, BFSI, and the industrial, residential, and commercial sector.
Smart Physical Safety Market – Competitive Landscape
- In February 2017, Ericsson introduced its new security solution “Ericsson Security Manager,” that helped to enable security orchestration for the entire ICT domain. The new security manager easily supports enterprises, telco cloud operations, physical & virtual networks, and digital support solutions. Additionally, the smart security manager can detect vulnerabilities, threats, and leverage real-time security analytics.
- In September 2016, Hitachi introduced video management platform (VMP) models which has supported physical security application as well as supporting workplace safety. This video management platform comprises virtualized compute & storage that are fully integrated. Additionally, these new video management platform models are specifically optimized for enterprise video security & monitoring environments and also support video analytics.
Founded in 1899 and located in Tokyo, Japan, NEC Corporation majorly operates its business through four segments that includes system platform, public, telecom carrier, and enterprise. The company’s software products comprise security & database software, application servers, and integrated operation management. NEC Corporation provides its hardware, software, and services to governmental agencies, public institutions, local governments, financial institutions, telecom carriers, and other organizations.
Founded in 1910 and based in Tokyo, Japan, Hitachi Ltd. operates its business through six segments: information & telecommunication systems, social infrastructure & industrial systems, electronic systems & equipment, construction machinery, high functional materials & components, and automotive systems. The company provides physical security solutions that include access control systems and video surveillance systems.
Cisco Systems Inc.,
Founded in 1984, Cisco Systems Inc. is an American company that designs and manufactures internet protocol (IP)-based networking and other products associated with the information technology (IT) industry. The company also provides connected safety & security solutions that include video surveillance software, IP cameras, access control systems, and other solutions across North America, Asia Pacific, Europe, and Middle East & Africa.
Founded in 1911 and headquartered in New York, the U.S. IBM Corporation is specialized in integrated technology and services worldwide. The company provides various solutions for physical security, secure connectivity, and network isolation & protection. It has over 380,000 employees across more than 170 countries worldwide. Additionally, the company has over 3000 researchers and approximately 12 laboratories across six continents worldwide.
Axis Communications AB
Founded in 1984 and located in Sweden, Axis Communications majorly provides software and services for document management, remote monitoring, and security surveillance. The company’s product portfolio includes access control systems, network video solutions, cameras & encoders, and many other products. The company has its presence across North America, Asia Pacific, Europe, and Middle East & Africa.
Some of the other prominent players in the smart physical safety market include Ericsson, Huawei, Harris Corporation, Hexagon, Tibbo Systems, Johnson Controls International Plc, and Siemens AG.
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Smart Physical Safety Market Dynamics
System integration services play a very significant role in enabling allied organizations & public safety agencies to adopt novel technologies to make the environment secure and safe. System integrated services help to empower public organizations to integrate their operational management with the help of smart surveillance systems and access control systems.
These services offer a secure & transparent public safety environment to protect people from natural and physical emergencies. Additionally, integrated service providers help organizations to advance a connected environment with the help of integrated IoT devices and solutions coupled with their prevailing IT infrastructure. Therefore, rapid adoption of system integration services is positively impacting the overall growth of the smart physical safety market worldwide.
High cost of smart security solutions restraining the growth of the market
Cost of smart physical safety systems is still high despite the increasing installation of these systems across the globe. These smart security systems require more frequent maintenance along with a monitoring subscription fee, consequently leading to the higher cost of these devices. As a result, high cost of smart physical safety systems is significantly hampering the market growth. However, manufacturers are focusing on providing integrated smart security solutions with novel technologies that is likely to overcome these problems in future.