The perimeter security market is
expected to grow from USD 96.25 billion in 2016 to USD 196.60 billion by 2022,
at a Compound Annual Growth Rate (CAGR) of 12.2% between 2017 and 2022. The
base year considered for the study is 2016 and the forecast period considered
is between 2017 and 2022.
The growth of the perimeter
security market is driven by factors, such as the necessity to safeguard
individuals as well as property from the rapidly evolving threats, the
increasing consumer awareness and security concerns, the willingness to pay for
security systems, the growing demand for the deployment of wireless
technologies in security systems, and the adoption of IoT-based security
systems.
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Market
Dynamics:
Drivers
- Rise
in the number of perimeter intrusions, leading to property damage and data
theft
- Increased
need to reduce manpower cost
- Increasing
installations of video surveillance systems for perimeter security
- Increasing
government regulations on perimeter security
Restraints
- High
initial deployment cost
- Lack
of technical expertise and security skills
Opportunities
- Evolution
of next-generation integrated systems for perimeter security systems
- Increasing
urban infrastructure across the globe
Challenges
- Ensuring
high detection probabilities with low false alarm rates
- Integrating
the existing systems with new technologies
Evolution
of next-generation integrated systems for perimeter security systems
As the nature of terror strikes
is continuously changing, verticals, such as government, military and defense,
correctional facilities, transportation, critical infrastructure, commercial,
and industrial, are deploying advanced perimeter security solutions to secure
their perimeters from advanced intrusions. The traditional perimeter security
platforms have been replaced by advanced perimeter security platforms with the
use of advanced technologies. With the rise in the number of intrusions across
the world, the need for multi-layered perimeter protection has increased.
Technologies such as next-generation fence-mounted sensors, infrared sensors,
integrated fiber-optic perimeter intrusion detection system, and perimeter
fence detection system, combined with CCTV, offer huge growth opportunities for
the perimeter security market. Thermal imaging and video analytics complement
each other well and effectively address the potential needs of the perimeter
security market.
The North American perimeter
security market is projected to be dominating during the forecast period. 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.
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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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