BANGALORE, India, May 31, 2022 /PRNewswire/ -- The Perimeter Security market is segmented by type (Perimeter Intrusion Detection Systems, Video Surveillance Systems, Access Control Systems, Alarms and Notifications Systems, Others), By Application (Commercial and Services, Industrial, Infrastructure, Government, Military and Defense, Resident, Educational, and Religious Buildings): Opportunity Analysis and Industry Forecast, 2022-2028. It is published in Valuates Reports under the Industrial Materials & Equipment Category.
The Perimeter Security Market size is estimated to be worth USD 124860 million in 2022 and is forecast to a readjusted size of USD 186330 million by 2028 with a CAGR of 6.9% during 2022 - 2028.
Major factors driving the growth of the Perimeter Security Market
The expansion of the perimeter security market will be driven by a rise in perimeter invasions, theft incidents, burglary, cross-border terrorism, illegal immigration, and other intrusions.
The perimeter security market is being driven by an increase in the development of smart cities and infrastructure. The government's support for implementing various security systems at vital locations is growing, which will accelerate the implementation of perimeter security.
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TRENDS INFLUENCING THE GROWTH OF THE PERIMETER SECURITY MARKET
The expansion of the Perimeter Security Market is predicted to be fueled by rising demand for video surveillance systems in industrial, infrastructure, residential, educational, and religious buildings. Installing video surveillance systems in the workplace can improve employee accountability while also increasing security and deterring theft. Every business owner wants their employees to work in a secure, pleasant, and productive environment. Installing surveillance cameras in the office is one technique to help with this. Surveillance cameras, when used appropriately, can curb theft and other negative events while also holding employees accountable for their work and conduct. Furthermore, modern AI-based video surveillance systems allow the user to search through all of the footage for a certain activity or object considerably faster than a human operator. When AI is used in forensic investigation, the amount of time it takes to extract useful data to examine issues is substantially reduced.
Increasing incidents of fire and other hazardous situations are expected to fuel the growth of the Perimeter Security Market. Alarms and Notifications Systems are designed to alert building residents to leave in the case of a fire or other emergency and to report the occurrence to an off-premises location so that emergency services can be summoned.
Modern military and government installations necessitate a high level of protection. This factor is expected to drive the growth of the perimeter security market. When it comes to the military, perimeter intrusion detection systems are used to protect international borders, military bases, prisons, and other sensitive places where intruders are a continual threat. Perimeter Intrusion Detection Systems (PIDS) detect intrusion attempts such as approaching, climbing, cutting, digging, or breaking through the perimeter barrier to provide early warning. Local and remote audio-visual alarms are used by the PIDS system to raise an alert. The use of detection sensors improves the capacity to detect intruders and thwart an attack. At the very least, a single layer of PIDS technology should be installed to detect intruders at the perimeter. To safeguard a facility with higher security needs, a dual-layer solution is frequently required (i.e. potential theft or damage to higher-value assets). The perimeter layer can be reinforced by layering complementing technologies such as fence sensors and video analytics.
The Perimeter Security Market is predicted to develop due to rising demand for access control systems in commercial, industrial infrastructure, government military, and defense resident, and educational applications. Workstations, file rooms containing sensitive data, printers, and entry doors can all be restricted with access control systems. Exterior door access is normally controlled by a landlord or management agency in bigger buildings, whereas internal office door access is controlled by the tenant company. Biometric authentication is used in the most secure access control systems. Biometrics refers to the use of biometrics, such as fingerprints, hand geometry, vein pattern recognition, voiceprint recognition, and iris recognition, to verify a person's identification.
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PERIMETER SECURITY MARKET SHARE ANALYSIS
Between 2018 and 2023, the residential, educational, and religious buildings sector is predicted to increase at the fastest rate. Security is becoming a key worry for individuals and residential complexes, such as private residential buildings, as the prevalence of theft and burglary rises around the world. As a result, the growing need for personal safety and security in the residential sector is propelling the growth of this market.
In 2020, North America had the greatest market share. North America is credited with being the first to implement perimeter security systems for public safety. Furthermore, there has been a substantial success in adopting new technologies for perimeter security, particularly transmission to IP-based video monitoring.
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Key Players
- Honeywell
- Axis Communications
- Dahua Technology
- Bosch Security
- United Technologies
- Southwest Microwave
- Johnson Controls
- Rbtec Perimeter Security Systems
- Fiber Sensys
- Cias Elettronica
- Senstar Corporation
- Puretech Systems
- Hangzhou Hikvision Digital Technology
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