The new report by Expert Market Research titled, ‘Global Perimeter Security Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global perimeter security market, assessing the market based on its segments like system, service, end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 59.5 billion
• Forecast CAGR (2023-2028): 7.8%
The perimeter security market is driven by the prevalence of intrusions in government, industrial, commercial, military & defence and transportation industries. The rising demand for perimeter security can be attributed to the increasing incidences of terrorism, sabotage and theft. The increased risk of terrorism activities is a growing concern for South-Asian governments, particularly Pakistan and India. Therefore, perimeter security has becoming necessary during the forecast period.
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Meanwhile, the rising incidence of illegal immigration in countries like the United States is likely to provide an impetus to the market. The rising investments from key players towards enhancing perimeter security technology is expected to aid the market growth in the forecast period. In post-COVID days, as the various sectors recover from the negative impacts of the pandemic, perimeter security is likely to witness a rise in demand.
Industry Definition and Major Segments
Perimeter security, also called perimeter protection is a manmade or natural barrier that keep intruders out or hold prisoners within a specific area. Furthermore, it recognises risks, inspects attacks and conducts surveillance.
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The perimeter security market, on the basis of system, can be segmented into:
• Access Control
• Alarms and Notifications
• Intrusion Detection
• Video Surveillance
• Barriers
• Others
On the basis of service, the market can be categorised into:
• System Integration and Consulting
• Risk Assessment and Analysis
• Managed Security Services
• Maintenance and Support
On the basis of end-use, the market can be categorised into:
• Commercial
• Government
• Industrial
• Military and Defence
• Transportation
• Others
The regional markets for perimeter security include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Among these, Asia Pacific is expected to represent a substantial share of the perimeter security market.
Market Trends
The deployment of cutting-edge IP based security cameras is likely to aid the market growth as it can be utilised for motion sensors, remote monitoring and wireless. Furthermore, innovation in AI-based unmanned aerial vehicle technology in drones for the application of aerial surveillance is expected to fuel the market growth.
The increasing efforts by the governments of various nations to develop perimeter security technology is likely to be another key trend bolstering the market growth in the forecast period. The rapid technological advancements and increasing investments by the key players to develop innovative solutions with the latest features are anticipated to significantly contribute to the market growth.
Key Market Players
The major players in the market are Agent Video Intelligence Ltd., Honeywell International Inc., Dahua Technology Co., Ltd, Senstar Corporation Fiber SenSys, Inc., Bosch Sicherheitssysteme GmbH. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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