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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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
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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