The Global Perimeter Security Market size is expected to reach $109.3 billion by 2028, rising at a market growth of 9.4% CAGR during the forecast period.
Systems such as firewalls & browser isolation systems are part of perimeter security. Threat identification, surveillance detection, and pattern analysis are among the best perimeter security practices. In general, perimeter security refers to the effort made by security experts to develop a perimeter-based strategy to protect networks and secure systems. But, several sectors of the security business now think that perimeter security is only partially effective on its own. There are now many types of internal security that can be used with high-quality security procedures.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches.
Growing demand for video surveillance systems in industrial, infrastructure, housing, academic, and religious buildings is expected to fuel the growth of the perimeter security market. Implementing video surveillance systems in the office can help employees be more accountable while also enhancing security and reducing theft. Every business owner desires a safe, enjoyable, and productive working environment for the employees. One method for assisting with this is to place surveillance cameras in the office.
When used properly, surveillance cameras can reduce theft and other bad incidents while also keeping employees responsible and behaving. Moreover, unlike a human operator, contemporary AI-based video surveillance systems enable the user to search by all of the footage for a certain activity or object much faster. When artificial intelligence (AI) is applied in forensic investigations, the time it takes to extract meaningful data to investigate issues is drastically decreased.
Due to the COVID-19 pandemic, the dependency on homeland security and law enforcement agencies has increased significantly. Critical infrastructure security, emergency services, and others are leveraging perimeter security solutions to provide necessary services to consumers. The pandemic has dramatically increased the reliance on homeland security & law enforcement organisations, vital infrastructure security, emergency services, and others are using perimeter security solutions to offer essential services to customers. It is apparent that perimeter security is important for infrastructure, airports, data centers, and other high-end applications, although many individuals now work from home. In present, many regional government are putting increased efforts on strengthening the defence and security infrastructure.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships & Collaborations.
The necessity to minimize the workforce is another major reason driving the perimeter security demand. The quantity of manual checkpoints is also reduced when processes are automated. End-use industries such as oil, petrochemicals, power plants, and other harmful industries may see increased demand in the near future. Computer programming, artificial intelligence, remote control, semiconductors, and electronics are among some of the science and technology sectors that are widely used in real-time security solutions. The marketplace for inspection drones is characterized by a high level of production and operational complexity, which encourages technological collaboration among market participants.
With the rise of perimeter threats, the requirement for multi-layered perimeter protection has increased. Rapid technical improvements, such as the usage of next-generation sensors, integrated fiber-optic Perimeter Intrusion Detection Systems (PIDS), thermal cameras, and video analytics, are booming. The use of video surveillance cameras for perimeter protection is on the rise. Using advanced perimeter security tactics, such as video surveillance, perimeter detection systems, and access control systems is one of the greatest ways to avoid crimes like theft or damage in residential and commercial settings. Previously, CCTV cameras were utilized to monitor a variety of corporate assets. IP cameras and IP network systems are quickly substituting CCTV cameras due to technological breakthroughs in internet and camera technology.
The perimeter security market's growth is being stifled by a lack of understanding about security concerns and the resulting potential losses. With limited knowledge and awareness of perimeter security, system integrator & security engineers attempt to integrate current IT systems with sophisticated perimeter security, potentially causing damage to the current IT system running on vital infrastructure. The most significant difficulty that businesses face, is a shortage of technical competence and security skills, which is impeding their capacity to satisfy the expanding perimeter security requirements. Many businesses hire security personnel who lack the necessary skills to assess the intricacies of perimeter security systems.
Based on Offering, the market is segmented into System (Video Surveillance Systems, Alarms & Notification System, Access Control System, Barrier System, and Intrusion Detection Systems & Others) and Services (System Integration & Consulting, Risk Assessment & Analysis, Managed Services, and Maintenance & Support). The System segment witnessed the maximum revenue share in the perimeter security market in 2021. Perimeter security systems for protection are utilized in defense. It is intended to keep an eye on the boundary of the area that has to be secured, preventing any kind of unlawful access and acting as a barrier to those that shouldn't be entering the facility.
Based on End Use, the market is segmented into Military & Defense, Industrial, Commercial, Government & Defense, Transportation and Others. The Transportation segment garnered a significant revenue share in the perimeter security market in 2021. This expansion can be due to a wide range of product applications in railways, freight cars, and cargo vehicles, all of which are designed to protect the important assets on board. Perimeter security systems are being progressively used by government sites and offices.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 59 Billion |
| Market size forecast in 2028 | USD 109.3 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 9.4% from 2022 to 2028 |
| Number of Pages | 306 |
| Number of Tables | 493 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Market Share Analysis, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Offering, End-use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America emerged as the leading region in the perimeter security market with the largest revenue share in 2021. This is owing to the existence of technology hubs in the United States and continuing R&D in the industry. Moreover, the region's rising adoption of the Internet of Things (IoT) is likely to boost the regional market growth.
Free Valuable Insights: Global Perimeter Security Market to reach USD 109.3 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Schneider Electric SE and Honeywell International Inc. are the forerunners in the Perimeter Security Market. Companies such as Johnson Controls International PLC, Axis Communications AB and Teledyne FLIR LLC are some of the key innovators in Perimeter Security Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Schneider Electric SE, Johnson Controls International PLC, Honeywell International, Inc., Teledyne FLIR LLC (Teledyne Technologies Incorporated), Axis Communications AB (Canon, Inc.), Optex Co. Ltd. (Optex Group Co. Ltd.), Senstar Technologies Ltd., PureTech Systems, Inc., Advanced Perimeter Security Systems Limited, and Cias Elettronica Srl.
By Offering
By End Use
By Geography
The global perimeter security market size is expected to reach $109.3 billion by 2028.
Growing automation due to R&D investment and commercial positioning are driving the market in coming years, however, Shortage of technical knowledge, security training, and awareness limited the growth of the market.
Schneider Electric SE, Johnson Controls International PLC, Honeywell International, Inc., Teledyne FLIR LLC (Teledyne Technologies Incorporated), Axis Communications AB (Canon, Inc.), Optex Co. Ltd. (Optex Group Co. Ltd.), Senstar Technologies Ltd., PureTech Systems, Inc., Advanced Perimeter Security Systems Limited, and Cias Elettronica Srl.
The expected CAGR of the perimeter security market is 9.4% from 2022 to 2028.
The Military & Defense segment acquired maximum revenue share in the Global Perimeter Security Market by End-use in 2021, thereby, achieving a market value of $37.5 billion by 2028.
The North America market dominated the Global Perimeter Security Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $37.06 billion by 2028.
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