security technology market Future proofing to drive PIAM market to $1,535 million Northbrook, Il (USA) According to the latest research from Marketsandmarkets, the physical identity and access management (PIAM) market size is projected to grow from USD 789 million in 2020 to USD 1,535 million by 2025, at a CAGR of 14.2% during the forecast period. The major growth drivers for the market include the rising need for future-proofing security operations, increasing instances of insider threats, and stringent security compliances and government regulations. Small businesses are expected to witness a higher growth in the adoption of physical identity and access management software and services. However, the large enterprises segment is expected to lead the physical identity and access management market due to the early adoption of the software. PIAM vendors help both small and medium-sized enterprises (SMEs) and large enterprises to address the security needs of business-critical applications to protect them from sophisticated cyber attacks. According to the researchers, the adoption rate for physical identity and access management software and services is high in large enterprises and is expected to dominate the physical identity and access management market in terms of market size, during the forecast period. Government and defence fastest growing vertical The government and defence vertical requires physical identity and access management solutions at a large-scale due to the voluminous information produced across these organisations. PIAM software helps the government and defence vertical secure their infrastructure and users from identity risks with reduced costs. The increasing complexities in networks and increasing instances of insider threats and cyber attacks are fuelling the adoption of physical identity and access management solutions among governments across the globe. High market share in US North America has the presence of several prominent market players delivering advanced solutions to all the end users in the regions. Owing to their strong economies, the US and Canada are expected to be major contributors to the growth of the physical identity and access management market. Apart from this factor, the geographical presence, strategic investments, partnerships, and significant R&D activities are contributing to the hefty deployments of physical identity and access management solutions. Key pure play vendors, such as AWS, IBM, HID Global, and Alert Enterprise offer enhanced physical identity and access management software and services to cater to the needs of customers. Such factors are expected to fuel the growth of the global physical identity and access management market in North America. Key players The major vendors covered in the physical identity and access management market and cited by the researchers, include HID Global, Alert Enterprise, ID Cube, Micro Focus, Okta, Access Security Corporation, Gemalto, IBM, Oracle, AWS, Avatier, Wallix Group, Atos, Identiv, Nexus Group, Alfrednet, Wipro, One Identity, Sequr, E&M Technologies, and WSO2. Stringent regulation upgrades drive fire alarm market San Francisco, Ca (USA) The global fire alarm and detection market size is expected to reach USD 75.3 billion by 2027, expanding at a CAGR of 8.5% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing awareness towards the safety and security of assets across the globe is expected to offer significant opportunities for technological innovations in the market. Additionally, rise in the consumer spending on fire protection devices especially across the enterprise and industrial sectors in order to reduce the risk of accidents is expected to spur market growth. Moreover, stringent government regulations and mandates regarding workplace safety, and increasing demand for state-of-the-art fire alarm & detection system is expected to fuel the market. The need for upgrading the existing alarm and detection systems to more advanced versions that consequently comply with the new stringent regulations will drive the market. A growing number of fire accidents has developed into the need for installation of advanced alarm and detection systems across the residential, commercial, and industrial sectors. For instance, legislative requirements from different countries including the National Fire Protection Association, USA, and Building Code of Australia have mandated the installation of fire detection devices, thereby boosting the demand for these devices. North America dominated the market in 2019 and is expected by the researchers to continue its dominance over the forthcoming years. Whilst the Asia Pacific region is anticipated to exhibit A growing number of fire accidents has developed into the need for installation of advanced alarm and detection systems across the residential, commercial, and industrial sectors. the highest CAGR from 2020 to 2027. Growing industrialisation and urbanisation in emerging markets such as India, China, and Japan is expected to accelerate infrastructure spending including mass transportation such as airport security for example. The fire detector segment is expected to dominate the market owing to stringent government regulations across various countries mandating the installation of the devices. For instance, in India, the National Building Code (NBC) was published in 2016 to imple- ment building standards ensuring safety through the use of active and passive smoke detection systems. The segment is expected to reach USD 38.1 billion by 2027 Within the detectors segment, smoke detectors are expected to dominate and the analysts expect that trend to continue over the forecast period, anticipating it to reach USD 17.0 billion by 2027. Prominent industry participants cited by the researchers include Bosch; Eaton Gentex; United Technologies Corporatiion; Honeywell; and Johnson Controls. in te r n at i on al • 9 dete kto r