The report "Perimeter Security Market by
Component (Systems (Perimeter Intrusion Detection, Video Surveillance, Access
Control, and Alarms and Notification Systems) and Services (Professional and
Managed Services)), Vertical, Region - Global Forecast to 2022", The perimeter
security market is expected to grow from USD 110.64 Billion in 2017 to USD
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) is
also expected to be contributing to the growth of the 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 subsegmented 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. 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. 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.
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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