Global Perimeter Security Market Size, Share, and COVID-19 Impact Analysis, By System (Access Control Systems, Alarms & Notification Systems, Intrusion Detection Systems, Video Surveillance Systems, Barrier Systems, and Others), By Service (System Integration & Consulting, Risk Assessment & Analysis, Managed Services, and Maintenance & Support), By End-Use (Government, Military & Defense, Transportation, Commercial, Industrial, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.Industry: Semiconductors & Electronics
Global Perimeter Security Market Insights Forecasts to 2032
- The Perimeter Security Market Size was valued at USD 67.15 Billion in 2022.
- The Market is Growing at a CAGR of 8.3% from 2022 to 2032.
- The Worldwide Perimeter Security Market Size is expected to reach USD 149.05 Billion by 2032
- Asia-Pacific is expected to Grow the fastest during the forecast period.
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The Global Perimeter Security Market is expected to reach USD 149.05 Billion by 2032, at a CAGR of 8.3% during the forecast period 2022 to 2032.
Perimeter security is a comprehensive approach to safeguarding physical and digital assets by protecting the outer boundaries of a property, facility, or network. This involves employing various physical and electronic barriers, including fences, walls, gates, surveillance cameras, motion sensors, and alarms, to prevent unauthorized access and detect potential security breaches. Access control measures such as ID badges, biometric scanners, and security personnel are also crucial components of perimeter security. The primary goal of perimeter security is to deter and prevent intrusions, protect critical infrastructure, and ensure the safety of individuals within a secure perimeter. Effective perimeter security is essential for businesses, government agencies, and other organizations that handle sensitive information or valuable assets, as well as for ensuring public safety and national security.
This research report categorizes the market for perimeter security market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the perimeter security market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the perimeter security market.
Global Perimeter Security Market Report Coverage
|Market Size in 2022:||USD 67.15 Billion|
|Forecast Period 2022-2032 CAGR:||8.3|
|2032 Value Projection:||USD 149.05 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By System, By Service, By End-Use, By Region.|
|Companies Covered:||Honeywell International Inc., Axis Communications AB, FLIR Systems, Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Johnson Controls International PLC, Bosch Security Systems Inc., PureTech Systems Inc., Senstar Corporation, Southwest Microwave, Inc., Avigilon Corporation, Gallagher Group Ltd., Schneider Electric SE, Anixter International Inc., RBtec Perimeter Security Systems, Advanced Perimeter Systems Ltd.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The perimeter security market is driven by several factors, including increasing security concerns and the need for advanced security solutions to protect critical infrastructure and assets. Technological advancements in security systems, including video surveillance, access control, and intrusion detection systems, are also driving the market growth. The rise in cyber threats and the need to secure networks and digital assets are further contributing to the demand for perimeter security solutions. Additionally, stringent government regulations and policies mandating perimeter security measures in various sectors, such as transportation, healthcare, and finance, are fueling market growth. The growing adoption of cloud-based security solutions and the emergence of artificial intelligence and machine learning technologies are expected to create significant growth opportunities for the perimeter security market in the coming years.
The perimeter security market also faces certain restraints, including the high cost of installation and maintenance of perimeter security systems. Limited awareness and the lack of skilled professionals to manage and operate these systems can also hinder market growth. The compatibility issues of various perimeter security solutions with existing security systems can also pose a challenge for businesses. Furthermore, false alarms and the high rate of false positives can lead to an unnecessary burden on security personnel, causing them to overlook genuine threats. These factors can impede the adoption of perimeter security solutions and restrain the growth of the market.
- In 2022, the video surveillance systems segment accounted for around 47.6% market share
On the basis of the system, the global perimeter security market is segmented into access control systems, alarms & notification systems, intrusion detection systems, video surveillance systems, barrier systems, and others. The video surveillance systems segment is dominating with the largest market share in 2022, due to its effectiveness in preventing crime and enhancing security. Video surveillance systems offer real-time monitoring and video recording capabilities, enabling security personnel to detect and respond to security breaches quickly. Moreover, the increasing adoption of advanced technologies such as high-resolution cameras, artificial intelligence, and cloud-based video surveillance systems is further driving the growth of this segment.
- In 2022, the system Integration segment dominated with more than 48.5% market share
Based on service, the global perimeter security market is segmented into system integration & consulting, risk assessment & analysis, managed services, and maintenance & support. System Integration dominated the perimeter security market due to the increasing demand for comprehensive security solutions that integrate multiple security systems such as video surveillance, access control, and intrusion detection. System Integration companies provide end-to-end security solutions that include design, installation, integration, and maintenance services, enabling customers to focus on their core business operations. The increasing complexity of security threats and the need for seamless integration of security systems are driving the demand for system integration services.
Regional Segment Analysis of the Perimeter Security Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America dominated the market with more than 29.7% revenue share in 2022.
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Based on region, North America held the largest market share of the global perimeter security market due to the increasing demand for security solutions across various industries, including government, defense, transportation, and critical infrastructure. The region is witnessing significant investments in security infrastructure to protect against terrorism, cyber threats, and unauthorized access. Additionally, the presence of major perimeter security solution providers and technological advancements in security systems are further driving market growth in North America. Moreover, stringent government regulations and policies mandating perimeter security measures in critical infrastructure sectors are also contributing to the region's dominance in the market.
The report offers the appropriate analysis of the key organizations/companies involved within the global perimeter security market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Companies:
- Honeywell International Inc.
- Axis Communications AB
- FLIR Systems, Inc.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Johnson Controls International PLC
- Bosch Security Systems Inc.
- PureTech Systems Inc.
- Senstar Corporation
- Southwest Microwave, Inc.
- Avigilon Corporation
- Gallagher Group Ltd.
- Schneider Electric SE
- Anixter International Inc.
- RBtec Perimeter Security Systems
- Advanced Perimeter Systems Ltd.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture Capitalists
- Value-Added Resellers (VARs)
- In August 2022, Honeywell recently launched Morley Max, a new product in the market. The Morley MAX system is a fire detection and alarm system that boasts a range of features such as being lightweight, strong, and user-friendly. Its primary objective is to ensure the safety of occupants in buildings by providing high-performance fire alarm control panels. The system includes innovative technology like multi-Boolean logic and the CANBus protocol across panels that facilitate faster communication. Morley Max is also readily networkable and compatible with Honeywell Connected Life Safety Services (CLSS), making it easier for users to integrate the system into their overall safety framework.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global perimeter security market based on the below-mentioned segments:
Perimeter Security Market, By System
- Access Control Systems
- Alarms & Notification Systems
- Intrusion Detection Systems
- Video Surveillance Systems
- Barrier Systems
Perimeter Security Market, By Service
- System Integration & Consulting
- Risk Assessment & Analysis
- Managed Services
- Maintenance & Support
Perimeter Security Market, By End-Use
- Military & Defense
Perimeter Security Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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