Global Perimeter Security Market is expected to reach US$ 240.69 Bn by 2026 from US$ XX Bn in 2019 at a CAGR of XX %.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Perimeter Security Market
Perimeter security as systems technologies protects people and property within a facility and its grounds by blocking unauthorized physical invasion across the perimeter. Perimeter security systems use covert technology to create an unseen wall of protection around assets, ready to alert to the presence of a trespasser at the very earliest opportunity. In the future, perimeter security could become part of a connected technology system, which is able to profile exact locations and match the skills and competencies of manpower required for each area. The increase in the threat of terrorism and the rise in illegal activities such as planned crimes, thefts, smuggling, and human trafficking have led to a rise in the adoption of security systems.
The rise in the establishment of smart cities and infrastructure is the key factor in the growth of the perimeter security market. The government support for implementing different security systems at grave locations is on rising. With the flourishing insecurities among people, manufacturers have come up with new multilayered perimeter protection solutions. Some of the technologies that are achieving popularity are electronic fencing with sensors and infrared and integrated fiber-optic intrusion detection systems. However, developing the reliability of the systems is emerging as a key challenge for the manufacturers. Perimeter security systems find applications specifically at national borders, military & defense sectors, government offices, commercial domains, banks, correctional sites, and other enormous industrial plants. However, the increase in cost of implementing perimeter security systems is expected to interrupt the market growth.
Global perimeter security market is segmented into system, services, vertical, and region. On the basis of system, Video surveillance systems are projected to emerge as the fastest-growing type segment in the market, owing to the increase in focus on the continuous capturing of images and complete safety. The satisfaction in installation of video surveillance systems and their multiple applications are resulting in their increased adoption across the globe. Based on services, the integration of numerous security systems provides the controller with more perfect information and enhanced decision-making power. By vertical, Residential, Educational, and Religious Buildings segment is anticipated to register highest CAGR attributed to the rate of stealing and robbery is rise in globally, security is becoming the main concern for individuals and residential complexes, such as private residential buildings. Such concerns are the increase in the command for security solutions, which include biometrics-based electronic locks and sensor-based criminal alarm systems. Thus, the growing need for safety and security of people, and the personal belongings is driving the growth of the global perimeter security market.
In terms of region, The North American perimeter security market is estimated to be dominating during the forecast period. The Asia Pacific is projected to emerge as the fastest-growing region over the next few years. The region is anticipated to witness growth owing to the improving infrastructure and stringent government measures towards the safety of nations.
Global Perimeter Security Market, by System
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