New York, United States, September 29, 2021 (GLOBE NEWSWIRE) – Market Snapshot:
According to a comprehensive research report from Market Research Future (MRFR), “Perimeter protection market information by service, component, end user and region – forecast to 2025The market size is expected to cross $ 276.46 billion by 2025 at an impressive CAGR of 13.46%.
Perimeter security, in simple terms, are systems and technologies that protect people, businesses and assets located in a ground by blocking unauthorized access like physical intrusion. This technology is traditionally used to detect and prevent intrusions into facilities such as military installations, critical infrastructure and high risk areas. Today, this technology can also be used in areas such as commercial and residential sites, retail spaces, transportation sites and several urban and remote locations.
The Major Key Players in the Covered Perimeter Protection Market are:
- Puretech Systems Inc
- Senstar Corporation
- Cias Electronics
- Fiber Sensys Inc
- Rbtec perimeter security systems
- Johnson Controls International PLC
- Microwaves Sud-Ouest Inc
- United Technology Society
- Bosch security systems
- Tyco International SA
- Dahua Technology Co. Ltd.
- Ax Communications AB
- FLIR Systems
- Hikvision Digital Technology Co. Ltd.
- Schneider Electric
- Honeywell International Inc.
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According to the MRFR report, there are many factors propelling the growth of the global perimeter protection market. Some of them involve increased digitization, volatile geopolitics, increased sophistication of cross-border infiltration, increased perimeter intrusions, burglaries, thefts, illegal immigration and cross-border terrorism, l ’emergence of big data analytics, computer vision, ALPR, recognition and AI in perimeter security systems, the growth of infrastructure and smart cities, and the use of wireless technologies. Additional factors contributing to the growth of the market include technological advancements in automation which has led to the rapid adoption of the latest techniques such as aerial drones and video analytics, increasing consumer awareness of social security, need for asset protection, increased government focus on perimeter protection, increased number of illegal intrusions, ease of elimination of security blind spots, reduced labor force, increased need to secure sensitive data and growth of terrorism.
On the contrary, high initial deployment costs, the need for security training and awareness, and lack of technical expertise may limit the growth of the global perimeter protection market during the forecast period.
Browse the in-depth market research report (111 pages) on the Perimeter Protection industry:
Market segmentation covered by research:
The MRFR report highlights an inclusive analysis of the global Perimeter Protection market based on end user, services, and components.
By component, the global perimeter protection market is segmented into systems which are further segmented into access control systems, video surveillance systems, perimeter intrusion detection systems, and others. Among these, the perimeter protection market is expected to dominate the market during the forecast period.
By services, the global perimeter protection market is segmented into managed services and professional services.
By end user, the global perimeter protection market is segmented into residential, industrial, commercial, government and defense, and others. Among these, the commercial segment will dominate the market during the forecast period.
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North America becomes the spearhead of the perimeter protection market
Geographically, the global perimeter protection market is divided into Europe, North America, Asia Pacific, and Rest of the World (RoW). Among these, North America will be the market spearhead during the forecast period. Rise in terrorism directed against the United States, problems with illegal immigration, highly digitalized industry, growing adoption in Canada and the United States, presence of technology hubs in the United States, constant R&D in the field, increased use of IoT, growing need for security against the growth of terrorist activity, criminal activity and illegal immigration, strict government safety and security regulations and technological developments in perimeter security solutions such as CCTV add to the growth of the global perimeter protection market in the region.
Europe will hold the second largest market share for perimeter protection
In Europe, the global perimeter protection market is expected to hold the second largest share during the forecast period. The need to fight terrorism, to ensure the protection of industrial and commercial companies, to increase surveillance for public security, the increasing adoption of these solutions such as access control in sea ports, roads railways, airports and public facilities with government agencies focusing on protecting their infrastructure, and increasing criminal activity is adding to the growth of the global perimeter protection market in the region.
APAC will experience favorable growth in the perimeter protection market
In the APAC region, the global perimeter protection market is expected to witness favorable growth during the forecast period. Endemic terrorism, region with the most sensitive borders in the world, increasing digitization of industrial and commercial enterprises, protection to protect sensitive data and reduce the theft of goods in factories and industrial warehouses, adoption of new technologies, presence of large economies such as as New Zealand, Australia, Singapore, Japan and China, social changes, political transformations and formidable economic growth, Singapore, India and Japan having initiated or updated new national security policies to deal with growing sophisticated threats , flexible economic conditions, growing digitization and government policies driven by industrialization are adding to the growth of the global perimeter protection market in the region. Additional factors adding to the growth of the market include development of infrastructure, strict government regulations for the security of nations, and increasing incidence of crime like personal crime.
RoW will have solid growth in the perimeter protection market
In RoW, the global perimeter protection market is expected to witness solid growth during the forecast period. Growing concerns over terrorism, prevalence of urban crime and a huge need for perimeter protection for socio-political factors are adding to the growth of the global perimeter protection market in the region.
Impact of COVID-19 on the Global Perimeter Protection Industry
The COVID-19 outbreak has cast its shadow on all segments of society, including businesses and individuals. The internet ecosystem plays a vital role around the world. Due to the epidemic, dependence on homeland security as well as law enforcement agencies has grown rapidly. Emergency services, critical infrastructure security and others leverage solutions to provide consumers with needed services.
The perimeter protection market is fragmented and also competitive with the presence of many national and international industrial players. They have integrated various strategies to stay ahead of the curve and meet growing customer needs, including collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. In addition, these players are also investing heavily in research and development activities to strengthen their portfolios and also create market hold.
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