Global Perimeter Security Market to reach USD 29.3 billion by 2025 | CAGR: 7.7%
Global Perimeter Security market is valued USD 15.1 billion in 2016 is anticipated to grow USD 29.3 billion with the compounded annual growth of 7.7% over the forecast period 2017-2025.
Global Perimeter Security industry is poised to raise USD 29.3 billion by 2025. Rapid growth in IoT adoption and virtualization of business platforms, security has become a severe concern these days. Moreover, there has been significant growth in network intrusions. Hence, to handle the increasing threat of cyber-attacks, organizations are heading towards perimeter security solutions. Perimeter security solutions integrate various systems and technologies such as video detection, intrusion detection, access control, security fencing and gates, and barriers and bollards. However, for accurate intrusion detection, the perimeter security solution, should be able to eliminate false and nuisance alarms, which is an important concern with current solutions.
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Global Perimeter Security Market Size Study, By Component (Systems (Perimeter Intrusion Detection, Video Surveillance, Access Control, and Alarms and Notification Systems), By Services (Professional and Managed Services), Vertical (Government, Military & Defense, Industrial) and Regional Forecasts, 2017-2025
The emergence of intelligent video surveillance systems with advanced analytics will create numerous opportunities for perimeter security solutions, especially in terms of system accuracy. Video analytics will enable the organizations to understand boundless measures of security video and information for generating prompt decisions and actions. Moreover, video surveillance and analytics can automatically identify major events and potential breaches and can send video cautions to the offices and departments, fitting workforce and it is best for critical infrastructure, campus environments, retail, transportation, banks and safe city surveillance. Additionally, On-board camera advancements are introducing a variety of new features and functionality to convey additional value, proving to be increasingly relevant across a variety of markets and customer applications beyond traditional video surveillance. Previously, this technology was used only for steady, high-security specifications, but it is rising into mainstream use not only for collecting loss prevention and security-related information, but also to offer important data that can be passed to the end-user consumer in the form of detailed reports. These complete reports provide business intelligence information that develops operational efficiency, sends insights into consumer demographics that inform marketing policies and finally improve business profitability.
Development of smart infrastructure and significant government initiatives in the developing countries of Asia Pacific is expected to create huge opportunities during the forecasted period. Moreover, SMBs in Asia Pacific region are switching to virtual platforms for expanding their business capabilities. Thus, the region is expected to have increased demand for perimeter security solutions and is expected to grow at 14% CAGR through 2025.
The industry has witnessed many recent product launches focusing on developments in cameras, sensors, and analytics software for effective video surveillance. Some of the major perimeter security companies, which are actively seeking this opportunity include Axis Communications, Senstar, Honeywell International Inc., Anixter International, Tyco International Ltd and so on.
Key findings of the study:
- North America is estimated to hold largest market share of about 34% in 2016
- Integration & design services are likely to witness highest growth of more than 7.5% over the forecast period
- Video surveillance is estimated to be the largest solution deployed globally which accounted more than 28% of the total market in 2016
- Technological developments in microwave PIDs is expected to drive the market growth over forecast period
Bizwit Research & Consulting LLP has considered following segments for the study:
Perimeter Security Services:
- Open Systems
- Integration & design
- Risk Management Services
- Support & Maintenance
- Managed Services
Perimeter Security Solutions:
- Access Control
- Intrusion detections sensors
- Video surveillance
- Mass/Emergency Notification System
- Integration & Design
- Risk Management
Perimeter Security Applications:
- Aerospace & Defense
- Transportation & Logistics
- Commercial Building
- Critical Infrastructures
- North America
- Asia Pacific
- Latin America
- Rest of the World
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