CHICAGO, May 1, 2024 /PRNewswire/ -- The combination of
cutting-edge technologies like artificial intelligence (AI) and the
internet of things (IoT), with an emphasis on cloud-based
solutions, improved user experiences, and cyber-physical security,
will define the future of the Perimeter Security Market. Innovation
will be fueled by resilience, industry-specific solutions, and
regulatory compliance, guaranteeing flexible and comprehensive
security measures in a dynamic threat environment.
The global Perimeter Security Market size is projected to
grow from USD 81.4 billion in 2024 to
USD 114.2 billion by 2029 at a CAGR
of 7.0% during the forecast period, according to a new report by
MarketsandMarkets™. The Perimeter Security Market is primarily
driven by rising security concerns from terrorism, criminal
activities, and illegal immigration. Technological advancements in
surveillance and detection, such as intelligent video analytics and
biometric systems, and the need to secure critical infrastructure
in key sectors are significant contributors. Regulatory demands and
the integration of AI and ML technologies also boost the market,
enhancing system adaptability and effectiveness.
Browse in-depth TOC on "Perimeter Security Market"
601 - Tables
50 - Figures
464 - Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2018-2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
Value (USD
Million/Billion)
|
Segments
Covered
|
Component, System,
Service, End-Use Sector, and Region
|
Geographies
covered
|
North America, Europe,
Asia Pacific, Middle East and Africa, and Latin America
|
Companies
covered
|
Major vendors in the
global Perimeter Security Market include Honeywell (US), Dahua
Technology (China), Bosch Security Systems (Germany), Hikvision
(China), Axis Communications (Sweden), Senstar (Canada), Pelco
(US), Raytheon Technologies (US), Teledyne FLIR (US), Thales
(France), Johnson Controls (US), Fiber SenSys (US), Ameristar
Perimeter Security (US), OPTEX (Japan), Panasonic (Japan),
Southwest Microwave (US), Avigilon (Canada), Advanced Perimeter
Systems (UK), Cias (Italy), Gallagher (US), Ingersoll Rand (US),
Infinova (US), RBtec Perimeter Security Systems (US), SORHEA
(France), PureTech Systems (US), SightLogix (US), Scylla (Israel),
Veesion (France), Pivotchain (India), Prisma Photonics (Israel),
Openpath (US), Density (US), Barrier1 Systems (US), Alcatraz (US),
and Kisi (US).
|
Further, the Perimeter Security Market sees opportunities in
developing smart cities, urbanization, and the increasing
integration of IoT devices, which enhance monitoring capabilities.
Opportunities in public-private partnerships and innovations in
wireless technology and data analytics further enhance system
scalability and efficiency, fueling market expansion., which plays
a crucial role in fueling the growth of the Perimeter Security
Market.
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By system segment, the perimeter intrusion detection system
(PIDS) will grow at the highest CAGR during the forecasted
period.
Due to several key factors, the PIDS segment is anticipated to
have the highest CAGR in the Perimeter Security Market during the
forecasted period. Firstly, the increasing prevalence of
sophisticated security threats and the need for advanced security
measures make PIDS essential for early detection and response. PIDS
technologies, which include sensors and surveillance equipment that
detect unauthorized entry attempts, are becoming more advanced with
the integration of AI and machine learning. These enhancements
improve the accuracy and speed of threat detection, reducing false
positives and enabling quicker response times. The growth of
critical infrastructure projects worldwide, such as energy grids,
transportation hubs, and data centers, necessitates robust security
solutions that preemptively identify and mitigate potential
breaches. These facilities often face higher security risks, so the
demand for effective PIDS is robust. Moreover, technological
advancements in PIDS, such as integrating IoT devices and wireless
technology, are expanding their capabilities and applications,
making them more versatile and practical in various environments,
from urban centers to remote locations. These factors collectively
contribute to the growing adoption and growth of PIDS.
The commercial sector segment holds the largest market size
during the forecast period by end-use sector.
The commercial end-use sector is forecasted to have the largest
market size in the Perimeter Security Market due to several
factors. Firstly, commercial properties, including retail centers,
office buildings, and warehouses, face diverse security threats
that demand robust surveillance and access control systems. The
growth of urban areas and the increasing value of commercial assets
also necessitate advanced security measures to protect against
theft, vandalism, and unauthorized access.
Moreover, the expansion of the retail industry and the rise of
mixed-use developments that combine retail, residential, and office
spaces increase the complexity of security needs, driving demand
for comprehensive perimeter security solutions. Additionally,
businesses are increasingly adopting IoT devices and integrating
them into their security systems, further driving the growth of the
Perimeter Security Market in the commercial sector. It is further
complemented by stringent regulatory and compliance requirements,
which mandate businesses to invest in adequate security systems to
mitigate risks and avoid potential liabilities.
By region, the Asia Pacific
market will grow at the highest CAGR during the forecast
period.
The Asia Pacific region is
projected to experience the highest CAGR in the Perimeter Security
Market, driven by rapid urbanization, industrial growth, and
infrastructure development across countries including China, India,
and Japan. The Asia Pacific region is witnessing significant
investments in innovative city projects and critical
infrastructure, necessitating advanced security measures. The
increasing economic development also leads to heightened security
needs for protecting commercial, industrial, and residential areas.
The region's growing technological adoption, including integrating
IoT and AI in security systems, further fuels the demand. Moreover,
Asia Pacific's focus on enhancing
public safety standards in response to rising crime rates and
terrorism threats also contributes to the robust growth of the
Perimeter Security Market.
Top Key Companies in Perimeter Security
Market:
Honeywell (US), Dahua Technology (China), Bosch Security Systems (Germany), Hikvision (China), Axis Communications (Sweden), Senstar (Canada), Pelco (US), Raytheon Technologies
(US), Teledyne FLIR (US), Thales (France), Johnson Controls (US), Fiber SenSys
(US), Ameristar Perimeter Security (US), OPTEX (Japan), Panasonic (Japan), Southwest Microwave (US), Avigilon
(Canada), Advanced Perimeter
Systems (UK), Cias (Italy),
Gallagher (US), Ingersoll Rand (US),
Infinova (US), RBtec Perimeter Security Systems (US), SORHEA
(France), PureTech Systems (US),
SightLogix (US), Scylla (Israel),
Veesion (France), Pivotchain
(India), Prisma Photonics
(Israel), Openpath (US), Density
(US), Barrier1 Systems (US), Alcatraz (US), and Kisi (US) are the
key players and other players in the Perimeter Security Market.
Recent Developments
- In April 2024, Hikvision launched
the AX HOME series, a wireless alarm system that helps provide
enhanced home security. Adhering to European Standards EN grade 2,
it is energy-efficient, utilizes minimal cellular data, and is
designed for ease of use. It features seamless integration with
third-party devices, a user-friendly setup, and remote maintenance
capabilities, ensuring robust protection and a hassle-free user
experience.
- In December 2023, Honeywell
planned to enhance its building automation capabilities by
acquiring Carrier Global Corporation's Global Access Solutions
business. The strategic move aimed to align Honeywell with
automation megatrends supported by digitalization. The transaction
included hardware and software solutions, adding three respected
brands to Honeywell's portfolio, thus helping the company focus on
life safety and digital access solutions.
- In February 2023, Axis
Communications and Genetec Inc., through a collaboration,
introduced AXIS Network Door Controllers powered by Genetec, an
enterprise-grade access control solution integrating Axis network
door controllers with Genetec's Synergis access control software.
Such a collaboration delivers a scalable, easy-to-deploy solution
offering enhanced cybersecurity, reduced installation time, and
hardware costs, making it ideal for businesses seeking advanced
physical security tools.
- In October 2022, Dahua Technology
introduced a DHI-ASC3202B controller that simplifies the
administration of credentials and door access while offering a wide
range of options for complex settings. This 2-door web controller
is made to expand alongside companies to guarantee that their
perimeters are safeguarded at scale. The controller has two
operating modes—standalone and software.
- In May 2022, Bosch Security
Systems partnered with Milestone Systems. Through the partnership,
Bosch provides complete integration of Bosch IP video devices with
Milestone XProtect IP Video Management software. Bosch also
addressed the most sophisticated safety and security needs of
various applications through a partnership with Milestone Systems.
Additionally, it added the Flexidome and Dinion Inteox 7100i IR
cameras to the range of Inteox open cameras as fixed cameras.
Further, these AI-powered cameras make numerous interior and
outdoor applications in municipal monitoring, airports, government,
and traffic more effective.
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Perimeter Security Market Advantages:
- In addition to improving overall security and lowering the
possibility of theft, vandalism, and other security risks,
perimeter security systems assist in detecting and preventing
unauthorised access, incursions, and security breaches.
- Within a predetermined perimeter, these systems secure
priceless items, machinery, and property from theft, damage, and
unauthorised access. This lowers the risk of losses and liability
for companies and organisations.
- By erecting a secure perimeter around properties, thwarting
possible threats, and facilitating quick reaction to security
crises, perimeter security solutions improve safety and security
for staff members, clients, and guests.
- By acting as deterrents to potential intruders, vandals, and
criminals, visible perimeter security systems like fences, gates,
barriers, and surveillance cameras lower the risk of security
breaches and unauthorised access.
- In order to enable timely intervention and response, perimeter
security systems offer round-the-clock monitoring and surveillance
of the perimeter and its environs. This allows for the real-time
detection of suspicious activity, invasions, or security
breaches.
- Because perimeter security solutions are scalable and
adaptable, they can be integrated with pre-existing security
infrastructure and deployed in a flexible manner to match the
unique security requirements and operational needs of various
organizations.
- By integrating these systems with other security technologies
like video surveillance, alarm systems, and access control, a full
security ecosystem is created that improves operational
effectiveness and overall security.
Report Objectives
- To define, describe, and forecast the Perimeter Security Market
based on component, system, service, end-use sector, and
region:
- To predict and estimate the market size of five central areas:
North America, Europe, Asia
Pacific, Middle East &
Africa, and Latin America
- To analyze the subsegments of the market concerning individual
growth trends, prospects, and contributions to the overall
market
- To provide detailed information related to the primary factors
(drivers, restraints, opportunities, and challenges) influencing
the growth of the Perimeter Security Market
- To analyze opportunities in the market for stakeholders by
identifying high-growth segments of the Perimeter Security
Market
- To profile the key players of the Perimeter Security Market and
comprehensively analyze their market size and core
competencies.
- Track and analyze competitive developments, such as new product
launches, mergers and acquisitions, partnerships, agreements, and
collaborations in the global Perimeter Security Market.
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