According
to a report by Grand View Research, Inc., global perimeter security market is
estimated to value USD 29.63 billion by 2025. Increasing number of illegal and
terrorist activities such as thefts, crimes, human trafficking, and smuggling
are anticipated to propel demand for perimeter security. Perimeter security is
expected to offer advanced security and safety solutions to prevent possible
incidences or criminal activities.
Full Research Report On Perimeter Security Market Analysis:
www.grandviewresearch.com/industry-analysis/perimeter-security-market
Stringent
regulations imposed by governments pertaining to safety of nations attributed
to growing number of terrorist activities and cross border intrusions can fuel
growth of the market. Development of infrastructure to create smart cities can
also influence market growth in the forthcoming years. Favorable government
initiatives to install security cameras at critical locations coupled with
technological advancements in field of automation can augment market growth
during the forecast period (2014 to 2025). High installation cost of perimeter
security systems is likely to hinder growth of market. In addition, improving
the reliability of these security systems can act as big challenge for
manufacturers.
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The
perimeter security market can be segregated on the basis of system, service,
end-use, and region. Based on system, the market can be classified into alarms
& notification systems, access control systems, intrusion detection
systems, video surveillance systems, barrier systems, and others. In 2016, the video
surveillance system segment dominated the market and accounted for USD 5298.2
million in revenue. Rising focus on continuous capturing of images and safety
is presumed to influence growth of the market. The segment can include CCTV
cameras, video cameras, smart video devices, and video analytics. In addition, ease
of installation in video surveillance systems and their wide range of
applications can spur demand for these systems in in forthcoming years.
Considering
the rising demand, most manufacturing companies are focusing on research and
development (R&D) activities to produce new and innovative security
systems. For instance, FLIR Systems recently introduced its next generation
outdoor security product line named Saros. The product is expected to offer
accurate and actionable alerts even under extreme weather conditions. In
addition, it can also reduce installation cost and false alarms in comparison
to conventional perimeter security systems. On the contrary, access control
systems and intrusion detection systems can also gain traction during the
forecast period.
Based
on service, the market can be segmented into risk assessment & analysis,
managed services, system integration & consulting, maintenance &
support. The system integration and consulting services segment is anticipated
to grow well at a CAGR of 7.9% during the forecast period attributed to growing
adoption of perimeter security systems. Integration of several security systems
is likely to offer correct information and better decision-making power to users.
In
addition, the risk assessment and analysis segment can also grow at a similar
pace over the forecast period owing to rising concerns for safety of important
data and other valuable assets. Such risk analysis tools are expected to
deliver end-use companies with enhanced decision-making power regarding safety
measures. In 2016, the segment did account for market revenue equivalent to USD
672.5 million.
Based
on end-use, the market can be divided into transportation, commercial, military
& defense, government, industrial, and others. Increasing number of
entertainment hubs owing to rising trend for shopping among consumers can fuel
demand for perimeter security in commercial buildings. In addition,
transportation segment is also anticipated to grow well in the forthcoming
years attributed to wide range of applications in freight cars, railways, and
cargo vehicles to safeguard valuable assets on board.
Moreover,
government offices and sites are also implementing perimeter security systems,
which is likely to augment market growth during the forecast period. In 2016,
government segment accounted for market share equivalent to USD 1926.4 million.
Apart from these, the military & defense segment is expected expand by adopting
these systems on a large scale in the forthcoming years.
Regional
segmentation includes North America, Asia Pacific, Europe, Latin America, and
Middle East & Africa. In 2016, the North America region dominated the
market and accounted for revenue equivalent to USD 4968.5 million. Mainly U.S.
and Canada had adopted perimeter security systems by then. High prevalence of
technology hubs are expected to fuel growth of the market in this region.
In
Asia Pacific, the market is anticipated to witness fast growth during the
forecast period owing to tough government regulations towards safety of nations
and continuous development of infrastructure.
Some
of the leading companies offering perimeter security solutions are Tyco
International Ltd.; RBtec Perimeter Security Systems; Anixter International
Inc.; Axis Communications AB; and Puretech Systems. Most companies are likely
to adopt strategic initiatives such as partnerships and mergers &
acquisitions to expand their product portfolio. In addition, companies can also
integrate with other companies to develop new products using specific
technologies.
Access Full Press Release of this Report: www.grandviewresearch.com/press-release/global-perimeter-security-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
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