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(MoneyNewsWire.Net, June 01, 2018 ) The global data center physical security market has been broadly classified into components, i.e. solutions and services. The solutions market is estimated to account for the larger share of the global market in 2015. However, the services market is also expected to grow at the high CAGR in the next five years, owing to factors such as high technological advancements, low budgetary requirements and requirements of various kinds of post and pre sales services. The market is further segmented on the basis of datacenter type, i.e. Mid-size, enterprise, and large.
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A number of factors including high growth in the numbers of new data centers and increasing security concern of curtail data and data center infrastructure are some of the key factors that are fueling the growth of the data center physical security market. However, availability of low cost, substitute products and solutions and, limited budgetary constraints are some of the key restraints and challenges faced by market players.
On the basis of region, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. In 2015, the global data center physical security market is estimated to be dominated by North America with a 36.03% share. A number of factors such as increasing government initiative for data security and privacy, high technological advancements in datacenters, high growth in numbers of cloud and colocation service providers are driving the growth of the market in the North American countries. However, the Asia-Pacific market is expected to grow at the highest CAGR from 2015 to 2020 due to factors such as rising data security concerns in various booming sectors such as BFSI, Government and Public, high technological adoption rates and increasing requirement of improved data access and control.
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New product launches, partnerships, and collaborations are the key strategies adopted by the major players to develop their position in the global data center physical security market. Moreover, strategies such as partnerships, agreements, collaborations, joint ventures, and acquisitions were also adopted by a significant number of market players to strengthen their solutions portfolios and expand their geographic presence.
The Data center physical security market is $613.8 Million in 2015 and expected to reach $1,223.1 Million by 2020, at a CAGR of 14.8% from 2015 to 2020. Honeywell (U.S.), Bosch (Germany) and Morpho (Safran) (France), Hikvision (China) are few key players operating in the global market.
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