| Status : Published | Published On : Jan, 2024 | Report Code : VRSME9060 | Industry : Semiconductor & Electronics | Available Format :
|
Page : 155 |
Global TIC Market for Physical Security– Analysis and Forecast (2025-2030)
Industry Insight by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by Industry Vertical (Access Control, Video Surveillance, Intrusion Detection, Locks, Safes & Vaults, Door Locking Devices and Hardware, Ballistic Resistant Materials, Burglary Resistant Materials, ATMs, Anti-Theft Devices, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The Global Physical Security Testing, Inspection, And Certification Market reached a value of USD 0.360 billion in 2023, with a projected compound annual growth rate (CAGR) of 6% from 2025 to 2030.
Testing in TIC means an industrial activity that assures manufactured products, individual components, and multi-component systems are suitable for the predetermined purpose. Inspection and testing are the operating parts of quality control which supports cost, productivity, on-time delivery, and market share, thus the critical factor for the survival of any manufacturing company. The testing, inspection, and certification market report is composed of conformity assessment agencies, which provide services from audit and inspection to testing, verification, quality assurance, and certification.
Globalization has led to product standardization norms and has penetrated developed technologies across various industries such as fire safety equipment, food and beverage, electronics and automotive industries, etc., resulting in the growth of the TIC market during the forecast period 2025-2030. Moreover, the growing middle-class population, rapid urbanization, mandatory safety regulations, upsurge in the illicit trade of counterfeit and pirated products, advancement in networking and communication technology, the inclination of outsourcing testing, inspection, and certification services has propelled the growth of the TIC market in the physical security. Nevertheless, TIC provides various advantages related to its credibility and image, compliance with legal and regulatory requirements, less turnover of employees, high level of cost control improvement, and fast improvement of different processes. There is an increase in demand for physical security owing to rising incidences of terror attacks, technological development and deployment of wireless technology in security systems, growing use of IP-based cameras for video surveillance, and increasing use of IoT-based security systems with cloud computing platforms which will propel the growth of TIC market for physical security.
TIC companies are catering to different industrial sectors such as agriculture, automotive, IT and electronics, physical security, building & construction, environmental protection, food testing, and oil and gas, maritime, medicine, education, tourism, logistics, consumer products, etc. and provide various standards and legislation.
The COVID-19 pandemic resulted in a short-term decline in demand and revenue in the first quarter of 2022. The internet ecosystem is playing an important role globally as a result there is widespread use of mobile devices and individuals are inclined towards the adoption of digital technologies. So, there is a need to have a cyber-safe remote working environment and physical security. Thus, TIC is playing a crucial role by offering assurance that the products and services offered to the customers will provide safety and security standards.
Business organizations in the TIC market are intensifying IT infrastructures and developing business continuity plans, implying that the testing, inspection, and certification market are holding the substantial potential to bounce back from the COVID-19 outbreak. This is due to the fact that TIC services will enhance and protect brand reputation, verify products’ safety, and enables trade.
Market Segmentation
Insight by Sourcing Type
Based on sourcing type, the TIC market for physical security is bifurcated into in-house and outsourced. Among the two segments, the in-house segment dominates the market and is anticipated to hold the largest share during the forecast period 2023-2030. Deploying in-house testing and inspection will offer companies to have complete control over the entire process in terms of technology, skilled personnel, and testing and measurement equipment. Thus, enabling organizations to handle TIC activities like on-site availability, ability to employ talent, and establish custom practices as per the needs and desires of the organizations.
Insight by Service Type
Based on service type, the TIC market for physical security is segmented into testing, inspection, and certification. Among these segments, the testing segment holds the largest share in the testing, inspection, and certification market in 2022 owing to the diverse product standards, stringent regulations, increasing need for improved safety & security, growing industrialization, and a need to protect the brand. Moreover, the certification market is anticipated to have a high CAGR during the forecast period owing to the consumer awareness about the certified products, companies growing need to improve the product value, the surge in demand for quality and safe products, and mandatory regulatory requirements.
Insight by Industry Vertical
Based on industry vertical, the TIC market for physical security is divided into access control, video surveillance, intrusion detection, locks, safes & vaults, door locking devices and hardware, ballistic resistant materials, burglary resistant materials, ATMs, anti-theft devices, and others. There is an increase in the adoption of video surveillance systems such as remote real-time video inspection using smartphones, tablets to maintain the supply chain, quality control, safety, and proper manufacturing schedules. In the burglary resistance test, the products (wall and door barriers, boltwork, drawer sliders, lock, handle, base fixing strength, preparation for alarm installation) are tested and should comply with the industry standards.
Global TIC Market for Physical Security Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2023 |
U.S.D. 0.360 Billion |
|
Revenue Forecast in 2030 |
U.S.D. 0.xxx Billion |
|
Growth Rate |
6% |
|
Segments Covered in the Report |
By Sourcing Type, By Service Type, and By Industry Vertical |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The TIC market for physical security is characterized by various industry trends such as growing investment in AR and VR, mounting adoption of connected devices and cloud-based technology, increasing mergers and acquisitions by the industry players, and sustained consolidation of suppliers leading to globalization.
Growth Drivers
The demand for TIC (Testing, Inspection, and Certification) in physical security is expected to be driven by growing government regulations, industry standards, certification requirements, and significant penalties for non-compliance. This trend is further fueled by the increasing instances of terror attacks, the need to protect business assets, employees, and customers, as well as the adoption of IoT and cloud-based data storage. Government regulations and compliance enforcement, the advancement of smart cities, and the shift from traditional solutions also contribute to the growth of the TIC market for physical security.
As a result, manufacturing companies are increasingly focusing on offering high-quality products to enhance customer retention. This, in turn, leads to a greater demand for interoperability testing for connected devices and IoT. Furthermore, the process is accelerated by globalization, the rise of global trade, and the emergence of digital technologies. These factors collectively contribute to the expansion of the TIC market in the field of physical security.
Challenges
The testing, inspection, and certification market in physical security may face certain challenges like trade wars and growth fluctuations, huge investment for automation and installation of industrial safety systems, integration issues among security solutions, device vulnerability and chances of system being hacked, and high cost of TIC owing to diverse standards and regulations globally. Moreover, a lack of testing facilities and skilled personnel may hamper the growth of the TIC market.
Opportunities
Testing, inspection, and certification is a massive market that provides lucrative opportunities in technologies such as AI, robotics, drones, big data analytics, next-generation automation, and cloud and cybersecurity. Moreover, the technological development and use of IP-based HD video in video surveillance, and the emergence of automated drones for security trolling will create promising opportunities for the growth of the TIC market in physical security.
Geographic Overview
North America dominates the market of TIC in physical security as physical security is important owing to the need for safety against terror activities, illegal immigration, technological advancement, etc. These threats can be overcome by access control, perimeter intrusion detection, and video surveillance.
APAC is anticipated to have a high CAGR during the forecast period owing to the rising investment in R&D, rapid urbanization & industrialization, huge manufacturing capabilities and exports, and increasing consumer awareness about the importance of quality certification, testing, and inspection. Moreover, the developed countries have their manufacturing units in the region, especially in China and India. These manufacturing units manufacture products according to internationally accepted standards.
Competitive Insight
Key players are adopting technological changes to improve their product portfolio and generate new revenues, optimize the operational cost, and enhance service efficiencies via process upgrades. The industry players are taking the COVID-19 crisis as an opportunity to restructure and revisit their existing strategies, focus on new services and delivery models to access the demand for rising automation, remotely-performed services, and enhanced digitization.
The business enterprises have started opening development centers in new locations to enhance market penetration which helps in building business relations with customers and clients. Moreover, the industry players in the TIC market have started building strategies like mergers and acquisitions, product innovation, and geographical expansion to hold a major share in the TIC market for physical security.
Bureau Veritas, a world leader in testing, inspection and certification, has acquired Secura B.V. (starting with a majority stake), an independent service company specializing in cybersecurity services. Secura will be a cornerstone in the cybersecurity strategy of Bureau Veritas.
Some of the key players operating in the TIC market in the physical security Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins USA, TUV Rheinland, DEKRA SE, Element Materials Technology, Applus+, and DNV GL.
The TIC Market for Physical Security report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Sourcing Type
- In-House
- Outsourced
- By Service Type
- Testing
- Inspection
- Certification
- By Industry Vertical
- Access Control
- Video Surveillance
- Intrusion Detection
- Locks, Safes & Vaults
- Door Locking Devices and Hardware
- Ballistic Resistant Materials
- Burglary Resistant Materials
- ATMs
- Anti-Theft Devices
- Others
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
.png "TIC Market for Physical Security Size")
Source: VynZ Research
.png "TIC Market for Physical Security Analysis")
Source: VynZ Research
Frequently Asked Questions
Place an order
Latest Report
Research Methodology
- Desk Research / Pilot Interviews
- Build Market Size Model
- Research and Analysis
- Final Deliverabvle
CONNECT WITH OUR SALES TEAM
- Toll-Free: 1 888 253 3960
- Phone: +91 9960 288 381
- Email: enquiry@vynzresearch.com
TIC Market for Physical Security