High growth of IoT applied physical security…10% rapid growth per year
Lee Gyung Tak | kt87@ | 2017-03-23 12:25:18
The physical security market, including access control, video surveillance and disaster prevention, is growing under combination with Internet of Things (IoT) technology due to the recent increase of terrorism..
According to market security researcher Market & Market’s report ‘the market forecasts for physical security’ on March 22, the global physical security market is expected to grow by 10.1% annually by 2021 from USD 69.9 billion dollars (KRW 77.9 trillion). It is expected to reach USD 112.32 billion (KRE 126.75 trillion).
According to another market researcher, Scala Market Research, the size of the physical security market is expected to reach USD 157.19 billion (KRW 80.8 trillion), an annual average of 14.2 %, and reach USD 158.89 billion (USD 179 billion) by 2022 .
According to these two reports, the growth of the physical security market is fueled by an increase in terrorism worldwide. Enterprises, organizations, and individuals are adopting latest physical security systems in an effort to protect their assets and lives. Especially, the Internet of Things (IoT) technology will contribute to the growth of the physical security market greatly.
Accordingly, the domestic physical security industry is in the process of developing or preparing a service that combines IoT technology. S1 is expected to launch ``Secom izi``, which can accurately detect the intrusion situation, by installing a UWB sensor (sensor using radar technology) in home CCTV this month.
A representative of S-1 said ‘It is designed to automatically recognize users when they go out and return home, and to release and operate the security system. The recorded image is encrypted and stored, and if the user is in the house, CCTV is automatically turned off.’
Last year, ADT Caps partnered with LG U + to launch IoT Caption, a smart security solution that combines IoT with door-to-door and door locks. A representative of ADT Caps said, ‘We plan to launch a new security service aimed at the residential market with intelligent image analysis system and IoT technology in order to secure the home security market by the end of this year.’ On the other hand, KT Telecop will also launch a new IoT service that will link KT``s telecom infrastructure and platform to its parent company this year.
Meanwhile, the physical security market in the world is the largest in the North American market so far. However, the Asia Pacific region is expected to grow at its fastest pace and lead the market along with the North American market.
According to the Ministry of Commerce, Industry and Energy, the size of the domestic physical security market is expected to grow from KRW 5 trillion in 2015 to KRW 7 trillion in 2020.
By Lee Gyung Tak kt87@
[ copyright ⓒ The Digitaltimes ]
According to market security researcher Market & Market’s report ‘the market forecasts for physical security’ on March 22, the global physical security market is expected to grow by 10.1% annually by 2021 from USD 69.9 billion dollars (KRW 77.9 trillion). It is expected to reach USD 112.32 billion (KRE 126.75 trillion).
According to another market researcher, Scala Market Research, the size of the physical security market is expected to reach USD 157.19 billion (KRW 80.8 trillion), an annual average of 14.2 %, and reach USD 158.89 billion (USD 179 billion) by 2022 .
According to these two reports, the growth of the physical security market is fueled by an increase in terrorism worldwide. Enterprises, organizations, and individuals are adopting latest physical security systems in an effort to protect their assets and lives. Especially, the Internet of Things (IoT) technology will contribute to the growth of the physical security market greatly.
Accordingly, the domestic physical security industry is in the process of developing or preparing a service that combines IoT technology. S1 is expected to launch ``Secom izi``, which can accurately detect the intrusion situation, by installing a UWB sensor (sensor using radar technology) in home CCTV this month.
A representative of S-1 said ‘It is designed to automatically recognize users when they go out and return home, and to release and operate the security system. The recorded image is encrypted and stored, and if the user is in the house, CCTV is automatically turned off.’
Last year, ADT Caps partnered with LG U + to launch IoT Caption, a smart security solution that combines IoT with door-to-door and door locks. A representative of ADT Caps said, ‘We plan to launch a new security service aimed at the residential market with intelligent image analysis system and IoT technology in order to secure the home security market by the end of this year.’ On the other hand, KT Telecop will also launch a new IoT service that will link KT``s telecom infrastructure and platform to its parent company this year.
Meanwhile, the physical security market in the world is the largest in the North American market so far. However, the Asia Pacific region is expected to grow at its fastest pace and lead the market along with the North American market.
According to the Ministry of Commerce, Industry and Energy, the size of the domestic physical security market is expected to grow from KRW 5 trillion in 2015 to KRW 7 trillion in 2020.
By Lee Gyung Tak kt87@