(IT-NEWSWIRE.COM, March 25, 2020 ) According to a new market research report "Perimeter Security Market by Component (Systems (Perimeter Intrusion Detection, Video Surveillance, Access Control, Alarms and Notifications), and Services (Professional, and Managed Services)), Vertical, Region - Global Forecast to 2022", published by MarketsandMarkets™, Perimeter Security Market expected to grow from $110.64 billion in 2017 to $196.60 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 12.2% between 2017 and 2022.
The growth of the market is primarily driven by the rise in terror attacks worldwide. The increasing technological developments in video surveillance is said to have fueled the demand for perimeter security systems and services. Furthermore, the increased usage of internet of things (IoT) and rise in the number of perimeter intrusions, leading to property damage and data theft is also expected to be contributing to the growth of the perimeter security market. Perimeter security comprises systems and technologies, which are used to protect people and places within a predetermined perimeter by blocking any unauthorized intrusion across that perimeter. The aim of perimeter security is to ensure the security of critical assets, such as commercial, industrial, private, public, and other sites.
Browse 89 market data Tables and 27 Figures spread through 149 Pages and in-depth TOC on "Perimeter Security Market”
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Based on systems, the video surveillance system segment is estimated to lead the perimeter security market during the forecast period
Based on systems, the perimeter security market has been sub segmented into perimeter intrusion detection systems, video surveillance systems, access control systems, alarms and notification systems, and others (fencing, lighting, and detection devices for metals, explosives, drugs, and chemicals). The video surveillance systems segment is estimated to lead the perimeter security market between 2017 and 2022. One of the main benefits of the video surveillance system is that it ensures a full-time monitoring in both, densely populated as well as remote areas. Therefore, the installations of video surveillance are increasing to provide comprehensive security to people, places, and plants. The increasing use of video surveillance systems, especially in the commercial and services, industrial, and military and defense verticals for protecting the organization of assets is said to be enhancing the growth of the video surveillance systems segment in the perimeter security market.
The commercial and services vertical in the perimeter security market is estimated to hold the largest share in 2017
The increasing incidence of crimes, such as theft of physical as well as data/information, has led to the need for security systems to protect not only the property owners, but the property as well. With this intention, corporate organizations are investing substantial amounts to protect sensitive data and their employees. The high demand for security systems in large and small retail businesses aims at reducing robbery and inventory loss. In the commercial sector, financial institutions and banks are highly in need of video surveillance systems, to provide security to the buildings, maintain cash management, and monitor customers and staff activities. These factors enhance the security parameters and drive the need for video surveillance systems in the commercial sector.
North America is expected to dominate the perimeter security market during the forecast period
The North American perimeter security market is projected to be dominating during the forecast period, followed by Europe. The growth of this market can be attributed to the increasing need for security against terrorist activities, strict government regulations for safety and security, rising illegal immigration, technological developments in physical security solutions, and the increasing criminal activities in North America. In North America particularly in the U.S., the government has taken initiatives to implement advanced surveillance systems at government buildings and high-security areas. North America is considered the pioneer in adopting perimeter security systems for public safety. Also, there is constant progress in adopting new technologies, mainly the transition to IP-based video surveillance.
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The report encompasses the competitive landscape, which presents the positioning of the 25 key perimeter security systems and services vendors, based on their product offerings and business strategies. Some of the major solution vendors include Axis Communications AB (Sweden), Hangzhou Hikvision Digital Technology Co., Ltd. (US), Dahua Technology Co., Ltd. (China), Bosch Security Systems (Germany), United Technologies Corporation (US), Honeywell International Inc. (US), Southwest Microwave, Inc. (US), Johnson Controls International plc (Tyco Systems Inc.) (Republic of Ireland), RBtec Perimeter Security Systems (US), Fiber SenSys, Inc. (US), CIAS Elettronica (Italy), Senstar Corporation (Canada), and PureTech Systems, Inc. (US).
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