Perimeter Security Market

The Perimeter Security Market was valued at USD 63.51 billion in 2022 and is estimated to reach approximately USD 118.31 billion by 2031, at a CAGR of 9.37% from 2023 to 2031.

Perimeter security is the integrated system that permits for a facility',s physical security. It helps to safeguards against unauthorized physical intrusions. Outdoor perimeter security involves technologies such as video surveillance systems, access control systems, communication and notification systems, and detection systems for intrusion. The advancements in technology have led to the introduction of infrared, microwave, radar, and seismic sensors. This added to the robustness of those systems. The market for outdoor perimeter security has been characterized by the presence of global as well as local manufacturers that cater to the needs of customers around the world. These technologies and systems are entirely dedicated to the protection of corporate and intellectual assets within the perimeter.

PERIMETER SECURITY MARKET: REPORT SCOPE &, SEGMENTATION

Perimeter Security Market Drivers:

• Increasing need of technical cooperation among market participants

The perimeter security industry is the need to reduce workforce. Automated processes also reduce the number of manually checked checkpoints. End-use industries such as oil, petrochemical, electrical, and other hazardous industries will see a rise in demand in the near future. It is common for real-time security solutions to include computer programming, artificial intelligence, remote control, semiconductors, and electronics. Furthermore, the high production and operational complexity level in the inspection drone market encourages technical cooperation among market participants. Investors will need to invest more in R&,D to maintain their competitive advantage. Security solutions help the market by allowing manufacturers to keep up with the growing level of automation in their facilities. Thus, driving demand of the global market.

Opportunities:

• Massive development on cutting edge technologies

Advanced perimeter security solutions used in verticals such as gove ment, military and defence, correctional facilities, transportation, critical infrastructure, commercial, and industrial to protect their perimeters from sophisticated breaches. Traditional perimeter security platforms have been replaced by more sophisticated perimeter security platforms to cutting-edge technologies such as AI, ML, computer vision, and facial recognition. In addition to growing efficiency, these cutting-edge systems have compelled manufacturers to create brand-new, highly sophisticated perimeter security measures. Therefore, will increasing growth of the global perimeter security market demand in the forecast period.

Restraints:

• Security risk related to perimeter security

Improved initial deployment costs and a lack of technical expertise and security skills. The security risk assessment will identify whether the perimeter of the site offers risks to security and if the entire perimeter needs to be secured by means of a physical barrier. Furthermore, the high problem with perimeter-based security is that it is static in nature. These is expected to hamper the growth of the global market.

Segment Overview

• By Service Type

Based on service type, the global perimeter security market is divided into system, integration &, consulting, risk assessment &, analysis, managed services, maintenance &, support. The integration &, consulting segment dominated the market in 2022 and is expected to dominating during the perimeter security market in forecast period, due to the integration of several security systems provides the controller with more accurate information and improved decision-making power.

System integration and consulting services aid businesses with a streamlined &, optimal functional workflow, access to real-time data, and effective performance of business operations. The adoption of cutting-edge technologies, such as IP-based security cameras for remote access, motion sensors, and wireless technology, is driving the industry forward. Thus, will increasing demand of this segment in the global market over forecast period.

• By System

Based on system the global perimeter security market is segmented into perimeter intrusion detection systems, access control systems, video surveillance systems, alarms and notifications systems, radar, others. The video surveillance systems segment dominated the global perimeter security market in 2022. This is attributed to video surveillance systems are projected to emerge as the fastest-growing type segment in the market due to the growing focus on the continuous capturing of images and complete safety. This is mainly comprising video cameras, CCTV cameras, video analytics, and smart video devices that can be linked to more than one device. Furthermore, video surveillance solutions deter revenue loss from stolen merchandise, vandalism, and destruction of valuable information among others. Therefore, this segment is propelling in the global market.

• By Industry Vertical

Based on industry vertical, the global perimeter security market is fragmented into industrial, commercial and services, gove ment, manufacturing, critical infrastructure, military &, defense, residential, educational, religious building. The military &, defense segment dominated the perimeter security market with the largest revenue share in 2022. This due to the growing population and rising shopping and outing trends, along with the presence of large entertainment hubs at several locations, have led to the emergence of a vast application for perimeter security systems.

Moreover, it is essential to maintain proper military base perimeter security to ensure the safety and security of troops &, operations as well as secure checkpoints. The requirement for the installation of outdoor perimeter security and intrusion detection varies as per the size of military bases. These all factor affect the growth of the global market.

Perimeter Security Market Overview by Region

North America dominated the perimeter security market in 2022. This is attributed to the presence of technology hubs in the U.S. and the continuous research and development in the field have resulted in. Additionally, the rising use of the Inte et of Things (IoT) in the region is expected to contribute to the regional growth of the perimeter security market. Asia Pacific is expected to emerge as the fastest-growing region over forecast period. This region is expected to witness growth due to the developing infrastructure and stringent gove ment measures towards the safety of nations. As a result, increasing demand of the perimeter security market in this region over forecast period.

Perimeter Security Market Competitive Landscape

In the global perimeter security market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global perimeter security market include:

• Honeywell Inte ational Inc.
• Dahua Technology Co., Ltd.
• Bosch Security Systems
• Axis Communications AB
• Delta Scientific Corp.
• RBtec Perimeter Security Systems
• Optex, Inc.
• FLIR Systems, Inc.
• Southwest Microwave, Inc.
• Senstar Corporation

Perimeter Security Market Recent Developments

• In 2020 Honeywell introduced the Pro-Watch Integrated Security Suite, a software platform designed to help protect people and property. It provides full visibility of all connected systems and integrates access control, video surveillance, intrusion detection, and other business-critical functions into a single user interface.
• In January 2022, Honeywell and Acalvio Technologies have introduced a novel solution aimed at identifying both familiar and unfamiliar (zero-day) attacks within operational technology (OT) settings in commercial buildings.
• In January 2022, Dahua Technology has unveiled a comprehensive security solution tailored for off-grid outdoor surveillance. This innovative system seamlessly combines 4G network transmission technology and solar power, creating an intelligent surveillance solution. The goal is to provide a streamlined monitoring experience for outdoor environments facing challenges such as electricity and network limitations.

Perimeter Security Market Report Segmentation

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