Perimeter Security Market by Component (Systems (Perimeter Intrusion Detection Systems, Video Surveillance Systems, Access Control Systems, Alarms and Notification Systems) and Services), End-Use Sector and Region - Global Forecast to 2027
The global perimeter security market size is projected to grow from USD 70.8 billion in 2022 to USD 100.2 billion by 2027 at a compound annual growth rate (CAGR) of 7.2% during the forecast period.
Some factors driving market expansion include Increased security breaches and perimeter invasions globally, increased demand for perimeter security solutions such as video surveillance and access control systems, and the development of smart technologies such as IoT, AI, and ML. However, the lack of technological expertise, security training, awareness requirement, and increased maintenance and investment expenses are expected to hinder the market growth.
By service, managed services to grow at a higher CAGR during the forecast period
The perimeter security industry has been segmented into two segments based on service: professional services and managed services. Users may utilize innovative video surveillance technology and management systems with managed services at a low cost removing the need to buy costly hardware and on-premises software. With the help of managed services, SMEs can pay for only those features they require rather than paying for all the features. Additionally, the features offered by managed services help in enhancing the level of perimeter security offered. Thus, managed services are anticipated to grow at the highest CAGR during the forecast period.
By end-use sector, the commercial sector accounts for the largest market size during the forecast period.
The commercial sector includes several industries, including IT and telecom, BFSI, retail, warehousing, media and entertainment, accommodation, and healthcare. The perimeter security solutions that are being offered are intelligent and cutting-edge in terms of technology, and they are improving security in the main commercial sectors, including banking and retail, healthcare, and office buildings. The need for perimeter security solutions in commercial sectors is also growing as a result of the rising theft and shoplifting incidents in malls and retail outlets. Increasing security at physical sites is also important to prevent theft from businesses and malls. Consequently, the commercial sector's CAGR increased throughout the anticipated period.
By system, perimeter intrusion detection systemto grow at the highestCAGR during the forecast period
The system offering of the perimeter security market includes perimeter intrusion detection, video surveillance systems, access control systems, alarm, and notification systems, barrier systems, and other systems. The perimeter intrusion detection system identifies malicious activities, log data about them, report them, and attempt to stop them. These systems are used by facilities that require high-end security, such as prisons, industries, and defence. The growing need to secure external premises, the rise in security concerns, and the technological advancements in perimeter intrusion detection solutions are further driving the perimeter intrusion detection system across several verticals, including residential, defence, and retail. Thus it is anticipated to grow at the highest CAGR during the forecast period.
Breakdown of primaries:
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the perimeter security market.
By company type: Tier 1: 53%, Tier 2: 29%, and Tier 3: 18%
By designation: C-level: 39%, Directors: 29%, and others: 34%
By region: North America: 41%,APAC: 23%, Europe: 27%, Middle East and Africa: 6%, Latin America: 3%
Major 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 (Ireland), Fiber SenSys (US), Ameristar Perimeter Security (US), Optex (Japan), Panasonic (Japan), Southwest Microwave (US), Avigilon (Canada), Advanced Perimeter Systems (UK), Cias (Italy), Gallagher (New Zealand), Ingersoll Rand (US), Infinova (US), RBtec Perimeter Security Systems (US), SORHEA (France), PureTech Systems (US), SightLogix (US), SCYLLA (US), Veesion (France), Pivotchain (India), Prisma Photonics (Israel), Openpath (US), Density (US), Barrier1 Systems (US), Alcatraz (US), and Kisi (US).
The study includes an in-depth competitive analysis of the key players in the perimeter security market, their company profiles, recent developments, and key market strategies.
The report segments the perimeter security market and forecasts its size by By component (solution and services), service (professional services and managed services), system(perimeter intrusion detection, video surveillance systems, access control systems, alarm & notification systems, barrier systems, and other systems), end-use sector (commercial, industrial, infrastructural, government, military & defense, and residential, educational, & religious), and region (North America, Europe, Middle East & Africa, Asia Pacific, and Latin America).
The study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall perimeter security market and the subsegments. This 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.
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