The global perimeter security market size was valued at USD 17.7 billion in 2018 and is expected to expand at a CAGR of 7.7% over the forecast period. Increasing threat of terrorism and cross border intrusions has forced governments to impose stringent regulations pertaining to the safety of nations, thereby boosting the growth of the market across the globe.
Growth of smart cities and infrastructure is a key factor fueling the market growth. Government support for implementing different security systems at critical locations is on the rise. Technological advancements in the field of automation have resulted in rapid adoption of latest techniques, such as video analytics and aerial drones, in order to provide better results.
Due to growing security concerns among people, manufacturers have come up with new multilayered perimeter protection solutions. Some of the technologies that are gaining popularity are electronic fencing with sensors and infrared and integrated fiber-optic intrusion detection systems. Improving the reliability of the systems is a challenge for all manufacturers.
Perimeter security systems find their application particularly in national borders, military and defense sector, government offices, commercial domains, banks, correctional sites, and other huge industrial plants in various segments. However, increasing cost of implementing perimeter security systems is estimated to hinder the growth of the market.
In recent years, there has been a significant rise in illegal activities, breach of security systems, planned crimes, and higher terrorism activities. This has led to increased awareness among citizens, industries, and governments. As a result, various security systems are deployed at different locations in an attempt to strengthen security.
The video surveillance system segment accounted for the largest market share and it was valued at USD 6.2 billion in 2018. The segment is estimated to emerge as the fastest-growing segment in the perimeter security market owing to increasing focus on the continuous capturing of images and complete safety. It mainly comprises video cameras, CCTV cameras, video analytics, and smart video devices that can be linked to more than one device. Ease of installation and myriad applications of these systems are increasing their adoption across the globe.
Video surveillance solutions prevent revenue loss from stolen merchandise, vandalism, and destruction of valuable information. These systems can range from alarm systems to wireless home security systems that notify law enforcement agencies at the time of trouble.
Increasing population and growing shopping and outing trends, along with the presence of large entertainment hubs at various locations, have led to the expansion of the application scope of perimeter security systems. Additionally, the transportation segment is expected to grow at a faster pace owing to its immense applications in railways, freight cars, and cargo vehicles to protect the valuable assets on board.
Government sites and offices are increasingly adopting perimeter security systems and this segment is expected to witness substantial growth over the forecast period. The government segment was valued at USD 2.2 billion in 2018. The military and defense segment is also increasingly adopting these systems as they can be used to detect any intrusion to the restrained facility. Moreover, they ensure safeguarding to a privately owned land or an industrial facility.
System integration and consulting services are gaining traction among security system providers. The segment is presumed to grow remarkably over the forecast period. The integration of various security systems provides the controller with more accurate information and enhanced decision-making power. System integration and consulting services help businesses with streamlined and optimal functional workflow, access to real-time data, and effective performance of business operations.
The risk assessment and analysis segment was valued at USD 797.8 million in 2018 and it is estimated to grow at a fast pace over the forecast period. Managed security services are increasingly used by large organizations as they find it easier to outsource the entire security system. This helps them to identify loopholes in the security of crucial information and prevent intruders form accessing their company premises.
North America dominated the market and generated a revenue of USD 5.6 billion in 2018. U.S. and Canada are the main countries adopting these systems. The presence of technology hubs in U.S. and continuous research and development in the field are the key factors driving the market in the region. Furthermore, increased use of the internet of things (IoT) in the region is expected to contribute to the regional market growth.
Asia Pacific is expected to witness significant growth over the next few years owing to infrastructure development and stringent government regulations for the safety of nations. Increasing incidence of crime such as personal crime has led to the need for perimeter security systems in Asia Pacific, thereby escalating the market growth over the forecast period.
Prominent players operating in the market include Ameristar Perimeter Security; Anixter International Inc.; Axis Communications AB; Barrier1 Systems, Inc.; Optex, Inc.; Honeywell International, Inc.; Tyco International Ltd.; Puretech Systems; Senstar Corporation; Delta Scientific Corporation; RBtec Perimeter Security Systems; and Cias Elettronica Srl.
Industry players are adopting various strategies such as mergers and acquisitions, partnerships with other firms for particular technologies, and new product development. For instance, in 2016, Honeywell International, Inc. acquired Xtralis Pty Ltd., a global company dealing in products related to smoke detection, intrusion threat detection, and fire threat detection. This acquisition equipped Honeywell with a larger product portfolio in visual monitoring and early threat detection.
|
Attribute |
Details |
|
Base year for estimation |
2018 |
|
Actual estimates/Historical data |
2014 - 2017 |
|
Forecast period |
2019 - 2025 |
|
Market representation |
Revenue in USD Million, CAGR from 2019 to 2025 |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, and MEA |
|
Country scope |
U.S., Canada, France, U.K., Germany, India, Japan, China, Brazil, and Mexico |
|
Report coverage |
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends |
|
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global perimeter security market report on the basis of system, service, end use, and region:
System Outlook (Revenue, USD Million, 2014 - 2025)
Access Control Systems
Alarms & Notification Systems
Intrusion Detection Systems
Video Surveillance Systems
Barrier Systems
Others
Service Outlook (Revenue, USD Million, 2014 - 2025)
System Integration & Consulting
Risk Assessment & Analysis
Managed Security Services
Maintenance & Support
End-use Outlook (Revenue, USD Million, 2014 - 2025)
Government
Military & Defense
Transportation
Commercial
Industrial
Others
Regional Outlook (Revenue, USD Million, 2014 - 2025)
North America
U.S.
Canada
Europe
France
Germany
U.K.
Asia Pacific
China
Japan
India
Latin America
Brazil
Mexico
Middle East & Africa (MEA)
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
