Latin America Physical Security Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Latin America Physical Security Industry Overview

The Latin American physical security market is fragmented, with several players operating in it. The high expense on research and development, new product launches, partnerships, collaborations, and mergers and acquisitions are the prime growth strategies adopted by the companies in the region to sustain the intense competition. Key players in the market include Bosch Security Systems GmbH, Dahua Technology Co. Ltd, Johnson Controls, Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd, Securitas AB, Secom Co. Ltd, G4S Limited, Siemens, Schneider Electric, and Honeywell International Inc.

• May 2023: Qognify, a subsidiary of Hexagon, an enterprise video and incident management solution provider, partnered with Johnson Controls Security Products to provide a comprehensive physical security solution. This integration between the two companies' products, Qognify VMS and Johnson Controls EntraPass (Kantech EntraPass), allows the display of door held open, forced door alarms, and clearance alarms as events within the VMS, synchronized to the relevant video recording.
• February 2023: Genetec, in partnership with Axis Communications, declared a change in the paradigm of physical access control with the announcement of its new product, Axis Powered by Genetec. This enterprise-grade access control solution is an advanced product, combining Genetec's access control software and Axis' network door controllers into a single, easy-to-deploy package. The product was expected to be exclusively available through the network of Genetec's certified partners, who would provide the inventory for the Genetec-engineered AXIS A1120 and Genetec AXIS A1125 network door controllers.