Perimeter Security Market Size, Share & Trends Analysis Report Forecast Period 2024-2031
Perimeter Security Market Size, Share & Trends Analysis Report Forecast Period 2024-2031
Blog Article
The global perimeter security market is anticipated to grow at a CAGR of 7.4% during the forecast period. Rising demand for security from criminal activities coupled with favorable government support for the implementation of security solutions at critical locations are the major factors driving the global perimeter security market. Moreover, the rising need to reduce manpower costs has played a vital role in the increasing demand for perimeter security solutions. The accuracy offered by these technologically upgraded solutions is widely deployed across industries at critical sites. Increasing investments in infrastructure development is further propelling the growth of the global perimeter security market. Additionally, the economic slowdown will directly affect the policies and regulations for the perimeter security, as in every country, the government has a large share in purchasing security appliances for the public area surveillance and government institution security; therefore, this slowdown will enforce the government for the reduction of their budge for security appliances.
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Impact of COVID-19 Pandemic on Global Perimeter Security Market
During COVID-19, as of May 2020, 212 countries had been impacted by the pandemic, and the governments of these countries had ordered nationwide lockdowns. Additionally, due to the COVID-19 pandemic, the dependency on homeland security and law enforcement agencies has increased significantly. Furthermore, critical infrastructure security, emergency services, and others are driving the demand for perimeter security solutions to provide necessary services to consumers.
Segmental Outlook
The global perimeter security market is segmented based on type and end-user. Based on type, the market is segmented into access control, video surveillance, intrusion detection, alarms & notification, and others. Based on end-user, the market is segmented into industrial, residential, commercial, government buildings, military & defense, transportation, public places, and others (critical infrastructure).
by Type (Access Control, Video Surveillance, Intrusion Detection, Alarms & Notification, and Others), and
by End-User (Industrial, Residential, Commercial Building, Government Building, Military & Defense, Transportation, Public Places, and Others)
Market Players Outlook
The major companies serving the global perimeter security market include Hangzhou Hikvision Digital Technology Co., Ltd., Zhejiang Dahua Technology Co., Ltd., ASSA ABLOY AB, Robert Bosch GmbH, and Axis Communications AB, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, geographical expansion, and collaborations to stay competitive in the market. For instance, in July 2019, Hangzhou Hikvision Digital Technology Co. Ltd. launched a new Thermal Bi-spectrum Deep Learning Turret Camera. The cameras can detect indoor fire by capturing both visible and infrared light images to provide thermal imaging results. The cameras trigger the alarm once the temperature reaches above the preset temperature.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global perimeter security market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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