PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1474714
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1474714
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. The market growth in perimeter security is fueled by urbanization and the development of smart cities, which require advanced, integrated security solutions. Additionally, technological advancements in networked security systems enhance surveillance and threat management, supporting market expansion in urban and commercial environments.
Scope of the Report | |
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Years Considered for the Study | 2018-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | USD (Billion) |
Segments | Component, System, Service, End-Use Sector, and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
"Escalating global security threats and the need for advanced intrusion detection primarily drive the perimeter security market's growth. Technological advancements, such as AI, ML, and IoT, significantly enhance these security systems' capabilities. Additionally, integrating cloud technologies allows for more flexible and comprehensive remote monitoring. Strict government regulations mandating robust security measures also play a crucial role in fueling the market's expansion, as they necessitate adopting sophisticated security systems across various critical and commercial sectors."
"By service, the managed service segment will grow at the highest CAGR during the forecast period."
The managed services in the services segment of the perimeter security market are forecasted to have the highest CAGR due to several factors. First, as perimeter security technologies become more complex, incorporating advanced analytics, AI, and IoT, organizations increasingly prefer outsourcing their security management to experts. Managed services offer a cost-effective solution by reducing the need for in-house specialized security staff and infrastructure. Additionally, these services provide scalability, allowing organizations to adjust their security measures based on evolving threats and business growth. Managed services also ensure that security systems are always up-to-date with the latest software patches and security protocols, enhancing overall protection against breaches. Such a comprehensive and adaptive approach to security management is vital for maintaining robust perimeter security in dynamic threat environments.
"By component, the system segment will grow at the largest market size during the forecast period."
The systems component segment of the perimeter security market is forecasted to grow at the largest market size primarily due to the increasing demand for advanced security technologies like surveillance cameras, intrusion detection systems, and access control systems. These systems are essential for real-time monitoring and protection against various security threats. Technological advancements are driving the development of more sophisticated and integrated systems, enhancing their efficiency and effectiveness in detecting and preventing intrusions. Additionally, the rise in security concerns across various sectors, including commercial, industrial, and residential areas, is leading to a greater adoption of these systems. This trend is reinforced by regulatory requirements and the growing need to secure critical infrastructures against escalating threats.
"Asia Pacific is anticipated to account for the highest CAGR during the forecasted period."
The Asia Pacific region is anticipated to experience the highest CAGR in the perimeter security market during the forecast period due to several key factors. Rapid infrastructural development, particularly in emerging economies such as China, India, and Southeast Asia, drives the demand for advanced security systems. These regions see significant investments in smart city projects and critical infrastructure, which require robust security measures to protect against increasing security threats and terrorism.
Additionally, there is a growing adoption of advanced technologies such as AI-based video surveillance systems, IoT-enabled security devices, and integrated security management systems across various sectors, including government, military, commercial, and industrial facilities. These technologies enhance the effectiveness of perimeter security systems, allowing for real-time monitoring and better threat detection and response. Moreover, the region is characterized by rising security concerns due to geopolitical tensions and border issues, which further propel the need for enhanced perimeter security solutions. Government initiatives and regulatory mandates across these countries also support the deployment of advanced security infrastructures, contributing to the rapid growth of the perimeter security market in Asia Pacific.
Breakdown of primaries
The key 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).
The study includes in-depth competitive intelligence covering company profiles, recent developments, and key market strategies.
Research Coverage
The report segments the perimeter security market and forecasts its size by component (system and services), system (perimeter intrusion detection systems, video surveillance systems, access control systems, alarm & notification systems, barrier systems, and others), service (professional services and managed services), and end-use sector (commercial, industrial, infrastructure, government, military & defense, residential, educational, & religious centers), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the perimeter security market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.