Perimeter Security Market Forecasts to 2028 – Global Analysis By Component (System,Services), End User (Banking, financial services and insurance (BFSI), Commercial, Government, Hospitality), and By Geography

Perimeter Security Market Forecasts to 2028 – Global Analysis By Component (System,Services), End User (Banking, financial services and insurance (BFSI), Commercial, Government, Hospitality), and By Geography

According to Stratistics MRC, the Global Perimeter Security Market is accounted for $68.61 billion in 2021 and is expected to reach $132.86 billion by 2028 growing at a CAGR of 9.9% during the forecast period. Perimeter security as systems and technologies protect people and assets within a facility and its grounds by blocking unauthorised physical intrusions across the perimeter. Perimeter security systems use covert technology to create an unseen wall of protection around property, ready to alert to the presence of an intruder at the very earliest opportunity. In the future, perimeter security could become part of a connected technology system, which is able to profile specific locations, and match the skills and competencies of manpower required for each area.

Market Dynamics:

Driver:

Growing automation & rising research & development

The rising automation in several manufacturing industries needs continuous monitoring, which can be achieved via these security solutions, thereby giving motivation to market growth. Automated operations also reduce the number of manual checkpoints. Demand will be enlarged in the end-use industries such as oil, petrochemical, electricity plants, and other hazardous industries. The high degree of manufacturing and operational complexities involved in the market for inspection drones reinforces technological collaborations between market players. As such, extensive R&D is likely to become an unavoidable business strategy for stakeholders to maintain their lead in the market.

Restraint:

Lack of skill

The lack of qualified professionals who can provide the required security training and consult is further impeding the growth of the market. Lack of awareness about security risks and the subsequent potential losses are restricting the growth of the market. System integrators and security technologists, with minimal knowledge and understanding of perimeter security, try integrating the existing IT systems with advanced perimeter security, which could damage the existing IT system running on critical infrastructure. Many organizations hire security professionals who lack the right skill to analyze the complexities of the perimeter security systems. Furthermore, the companies with pressing perimeter security needs are lacking qualified professionals to fill their positions, which make them vulnerable to various types of intrusions.

Opportunity:

Rise in AI based innovations

The growing adoption of AI-based unmanned aerial vehicle innovations, such as drones for aerial surveillance, creates ample opportunity for the market. The growing technological advancements and a shift towards digital solutions over traditional to enhance security and surveillance. Moreover, the deployment of the latest techniques, like IP-based surveillance cameras for remote monitoring, motion sensors, and wireless technology, is significantly contributing to the growth of the market.

Threat:

Addition of logical and physical components of security systems

The security system integration refers to the merging of physical security applications, such as access control, with logical security applications, such as biometric identification programs, into a single, comprehensive system. Organizations can significantly enhance the efficiency and comprehensiveness of their security infrastructure through this convergence. The integration between video and access control is the most sought-after combination. This leads to integration issues as most manufacturers offer integrations with a variety of video and other security components but not with their fellow access control competitors.

Military and Defense segment is expected to be the largest during the forecast period

Military accounted for the largest market share during the forecast period. As it is important to keep proper military base perimeter security to confirm the protection and danger of troops & operations as well as security checkpoints. The need for the installation of outdoor perimeter security and intrusion detection varies as per the size of military bases. Thermal sensors enhance the situational awareness of the military base beyond the perimeter, thus increasing product adoption.

The Systems segment is expected to have the highest CAGR during the forecast period

System held the highest share of the market segment. The growth of the video surveillance system segment can be accredited to increasing focus on continuous capturing of images and complete safety. The video surveillance system includes video analytics, CCTV cameras, video cameras, and smart video devices that can be linked to more devices. It can be easily installed in a broad array of applications. It helps prevent losses from damage, destruction of valuable information, and stolen goods.

Region with highest share:

The Asia Pacific is projected to hold the highest market share; the growth in the province can be accredited to the rising population, growing concerns regarding perimeter intrusion threats from terrorist groups, and high investments in public safety measures by the governments. Additionally, the sectors, such as military and defence, transportation, critical infrastructures, nuclear plants, chemical industries, oil and gas, and others are the major contributors to the growth of the perimeter security industry, as perimeter security systems in such sectors help keep invaders away from the guarded area to ensure protection against burglary and vandalism.

Region with highest CAGR:

North America is projected to have the highest CAGR. North America is considered to be pioneer in executing perimeter security systems for community safety. Moreover, there is substantial advancement for perimeter in incorporating innovative technologies, mainly the transmission to IP-based video surveillance. The rising need for it has been witnessed in major industries, such as critical infrastructures, government and defence, nuclear plants, power, chemical industries, and oil & gas among others. On account of rising perimeter intrusion threats, the requirement for multilayer perimeter protection has also surged, which offers immense growth opportunities to the market players in this province.

Key players in the market:

Some of the key players profiled in the Perimeter Security Market include Axis Communications AB, Barrier1 Systems, Inc., Optex, Inc., Honeywell International, Inc., Tyco International Ltd., Puretech Systems, Senstar Corp., Delta Scientific Corp., RBtec Perimeter Security Systems, Cias Elettronica Srl, Dahua Technology, Hikvision.

Key developments:

In January 2022: Dahua Technology has launched an integrated security solution designed for off-grid outdoor surveillance by integrating 4G network transmission technology and solar power into an intelligent surveillance system, to create a lightweight monitoring experience for outdoor environments with electricity and network shortages.

In July 2019: Hikvision launched a thermal Bi-spectrum Deep Learning Turret Camera that brings the enhanced capabilities of indoor fire detection, along with an advanced temperature anomaly alarm and visual warning.

In January 2022: Honeywell and Acalvio Technologies has announced the launch of a new solution designed to detect known and unknown (zero-day) attacks across the operational technology (OT) environments in commercial buildings.

Components Covered:
• Systems
• Services

End Users Covered:
• Banking, financial services and insurance (BFSI)
• Commercial and Services
• Government
• Hospitality
• Industrial
• Infrastructure
• Manufacturing
• Military and Defense
• Residential, Educational, and Religious Buildings
• Transportation

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances