New York, US, Sept. 29, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Perimeter Protection Market information by Services, by Components, by End User and Region – forecast to 2025” market size expected to cross USD 276.46 Billion by 2025 at an impressive CAGR of 13.46%.
Perimeter security, simply put, are systems and technologies which protect people, businesses, and assets which are located within a ground via blocking unauthorized access like physical intrusions. This technology is used traditionally for detecting and preventing intrusions in facilities like military facilities, critical infrastructure, and high-risk areas. Today this technology can also be utilized in areas like commercial and residential sites, retail spaces, transportation sites, and several urban and remote locations.
Dominant Key Players on Perimeter Protection Market Covered Are:
Puretech Systems Inc
Fiber Sensys Inc
Rbtec Perimeter Security Systems
Johnson Controls International PLC
Southwest Microwave Inc
United Technologies Corporation
Bosch Security Systems
Tyco International PLC
Dahua Technology Co. Ltd.
Axis Communications AB
Hikvision Digital Technology Co. Ltd.
Honeywell International Inc.
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Market USP Exclusively Encompassed:
According to the MRFR report, there are numerous factors that are propelling the global perimeter protection market growth. Some of these entail increase in digitalization, volatile geopolitics, increased sophistication in cross-border infiltration, increase in perimeter intrusions, burglary, theft incidences, illegal immigration, and cross-border terrorism, emergence of big data analytics, computer vision, ALPR, facial recognition, and AI in perimeter security systems, growth of infrastructure, and smart cities, and use of wireless technologies. The additional factors adding market growth include technological advances in automation that have led to the rapid adoption of latest techniques like aerial drones and video analytics, rising consumer awareness for social security, the need for protection of assets, increased government focus on perimeter protection, increased number of illegal intrusions, ease of elimination of security blind spots, reduced manpower reliance, 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 global perimeter protection market growth over the forecast period.
Browse In-depth Market Research Report (111 Pages) on Perimeter Protection Industry:
Segmentation of Market Covered in the Research:
The MRFR report highlights an inclusive analysis of the global perimeter protection market based on end user, services, and component.
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. Of these, perimeter protection market is predicted to lead the market over 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 over the forecast period.
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North America to Spearhead Perimeter Protection Market
Geographically, the global perimeter protection market is bifurcated into Europe, North America, the Asia Pacific, & Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period. Rise in terrorism directed against the US, illegal immigration problems, a highly digitalized industry, increasing adoption in Canada and the US, the presence of technology hubs in the US, constant R&D in the field, increased use of IoT, the growing need for security against growing terrorist activities, criminal activities, and illegal immigration, strict government regulations for security and safety, and technological developments in perimeter security solutions like video surveillance are adding to the global perimeter protection market growth in the region.
Europe to Hold Second-Largest Share in Perimeter Protection Market
In Europe, the global perimeter protection market is predicted to hold the second-largest share over the forecast period. The need to combat terrorism, ensure the protection of industrial and commercial enterprises, increase surveillance for public safety, growing adoption of these solutions like access control across seaports, railways, airports, and public facilities with the government bodies focusing on protecting their infrastructure, and rise in criminal activities are adding to the global perimeter protection market growth in the region.
APAC to Have Favorable Growth in Perimeter Protection Market
In the APAC region, the global perimeter protection market is predicted to have favorable growth over the forecast period. Rampant terrorism, the region having the most sensitive borders in the world, increasing digitalization in industrial and commercial corporations, protection to protect sensitive data and reduce pilferage of commodities from industrial plants and warehouses, adoption of new technologies, the presence of major economies such as New Zealand, Australia, Singapore, Japan, and China, social changes, political transformations, and tremendous economic growth, Singapore, India, and Japan having launched or updated new national security policies to deal with the rising sophisticated threats, flexible economic conditions, growing digitalization, and governments’ industrialization-motivated policies are adding to the global perimeter protection market growth in the region. The additional factors adding market growth include infrastructure development, strict government regulations for the safety of nations, and rising incidence of crime like personal crime.
RoW to Have Sound Growth in Perimeter Protection Market
In RoW, the global perimeter protection market is predicted to have sound growth over the forecast period. Growing terrorism concerns, prevalence of urban crime, and a huge need for perimeter protection for socio-political factors are adding to the global perimeter protection market growth in the region.
COVID-19 Impact on the Global Perimeter Protection Industry
The COVID-19 outbreak has cast its shadow on every segment of the society that includes businesses and individuals. The internet ecosystem plays a vital role across the globe. Owing to the outbreak, the dependency on homeland security as well as law enforcement agencies has gone up rapidly. Emergency services, critical infrastructure security, and others are leveraging the solutions in offering consumers with necessary services.
The perimeter protection market is fragmented and also competitive with the presence of many domestic as well as international industry players. They have incorporated assorted strategies to stay at the forefront and also cater to the surging needs of the customers, including collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.
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