Perimeter Security Market: Current Analysis and Forecast (2022-2028)

Perimeter Security Market: Current Analysis and Forecast (2022-2028)

Perimeter security is the philosophy of placing functional devices or technologies at the perimeter of a network to protect data and resources. It is part of a larger security perimeter and plays a unique role in active system protection. Perimeter security consists of systems such as firewalls and browser isolation systems. Perimeter security best practices include threat detection, monitoring detection, and pattern analysis. These systems were commonly used to prevent and detect intrusions into critical infrastructure, military installations, and other high-security locations. However, the use of these systems is picking up pace in residential and commercial areas, transit locations, retail spaces, and several other locations.

Global Perimeter Security Market is expected to grow at a growth rate of around 10% during the forecast period. The global perimeter security market is growing rapidly on the account of the growing threat of terrorism and cross-border intruders, the rising cases of perimeter intrusion, theft, and robbery, and the introduction of the latest technologies such as IP-based video surveillance cameras for remote surveillance, wireless technology, motion sensors, and aerial drones. Moreover, a rise in the development of smart cities and infrastructure is further impacting the growth of the perimeter security market. For instance, according to the White House Presidential Innovation Fellow project, local governments in the United States will invest approximately $ 41 trillion over the next 20 years to upgrade their infrastructure and take advantage of the IoT.

Honeywell International Inc., Robert Bosch GmbH, Axis Communications AB, Pelco Incorporated, Thales SA, Johnson Controls International, Panasonic Holdings Corporation, Raytheon Technologies Corporation, Teledyne FLIR LLC, and Senstar Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst components, systems segment to witness robust CAGR during the forecast period”

Based on components, the market is classified into systems and services. Among systems and services, the systems segment is expected to witness a robust CAGR during the forecast period owing to the rapid growth of video surveillance for the continuous capturing of images and complete safety. This segment mainly includes video cameras, CCTV cameras, video analytics, and intelligent video devices that can connect to multiple devices. Due to the ease of installation of video surveillance systems and their myriad of applications, they are increasingly accepted worldwide.
"Amongst end-use, the military and defense segment to hold a significant share in the market in 2020”

Based on end-use, the market is divided into commercial, government, industrial, military and defense, transportation, and others. The military and defense held a significant share of the global perimeter security market in 2020. This growth is due to a wide range of product applications in rail, and freight vehicles to protect valuable onboard assets. Government sites and offices are increasingly adopting perimeter security systems, and this segment is expected to grow significantly during the forecast period.
"North America to hold a significant share in the market”

In 2020, North America held a significant share of the global perimeter security market. This is largely due to the presence of technology hubs in the US and continuous research and development in the field. Moreover, the increasing adoption of the internet of things (IoT) and a rapidly increasing number of smart city initiatives in the region are expected to contribute to the growth of the regional market. Further on, the presence of a highly developed infrastructure and a large military and defense, transportation, oil & gas, chemical as well as other industries are also influencing the growth of the perimeter security market in the region. In addition, an increasing number of smart city projects in the region are further contributing to the growth of the perimeter security market in the region. For instance, Chicago, Illinois launched the Array of Things initiative in 2016, which consisted of a network of sensors mounted on light poles collecting real-time data on the city’s environmental surroundings and urban activities. Data collected online from AoT is accessible online for providing valuable information and resources to researchers, urban planners, and the public.

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