The North America 3D Virtual Fence Market would witness market growth of 20.9% CAGR during the forecast period (2023-2030).
A growing number of government organizations have invested in creating 3D virtual barriers to increase the safety of their citizens. The increasing demand for intruder detection and monitoring, government initiatives to develop improved security systems, and the increased need for safety and security measures are the main drivers propelling the market's growth. The Environmental Protection Agency (EPA) granted Oklahoma State University researchers funding in June 2021 to investigate how virtual fencing technology could improve cattle grazing lands' ecosystems and water quality. A recent EPA grant of more than USD 800,000 was used to support research on how GPS-enabled cattle collars could assist farmers in improving grazing management and the health of the soil, wildlife habitat, and water resources.
Pet owners use virtual fences to keep their pets within a predefined area. When the pet approaches the virtual boundary, the owner receives an alert. In agriculture, virtual fences are used to contain livestock without physical fences. GPS-based virtual fences can alert farmers when animals breach the designated area. Virtual fences are deployed to monitor and secure a perimeter in the security industry. When an unauthorized entry occurs, an alert is triggered.
According to U.S. Department of Agriculture (USDA), 8.45 million heads are estimated to be Mexico's calf crop in 2023. The USDA predicts that cattle exports reach 1,2 million heads in 2023, a modest increase from the estimate for 2022. It also estimates that beef production will surpass 2.22 million metric tons (MMT) of carcass weight equivalent (CWE) in 2023, an increase of nearly two percent from 2022. Mexico continues to set volume and value records for beef exports, and domestic demand is progressively recovering, requiring increased production. Therefore, the region presents lucrative growth prospects for the market.
The US market dominated the North America 3D Virtual Fence Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,745.7 Million by 2030. The Canada market is showcasing a CAGR of 23.7% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 22.6% during (2023 - 2030).
Based on Technology, the market is segmented into Seismic Detector Technology, Laser Beam Technology, Laser Systems Integration, and Others. Based on End-user, the market is segmented into Agriculture, Security, Logistics, Construction, BFSI, and Others. Based on Type, the market is segmented into 3D Virtual Cameras, and 3D Video Motion Detection System. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The 3D Virtual Fence Market is Predict to reach $8.2 Billion by 2030, at a CAGR of 21.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, Senstar Technologies Ltd., Anixter International Inc. (WESCO International, Inc.), Controp Precision Technologies Ltd., G&A Surveillance (Zycom Surveillance), Huper Laboratories Co., Ltd., Lips Corporation, CE Info Systems Ltd. (map my India), RBtec Inc. and Optex Co. Ltd. (Optex Group Co., Ltd.).
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