Perimeter Security Industry Overview
The global perimeter security market size is expected to reach USD 132.4 billion by 2030, registering a CAGR of 9.4% over the forecast period, according to a new report by Grand View Research, Inc. The increasing insecurities among civilians and the rising illegal activities, such as planned crimes, thefts, smuggling, and human trafficking, have led to a rise in the adoption of perimeter security systems.
Technological proliferation has led to the growth of smart cities and smart infrastructure. Owing to this, the implementation of security systems at commercial complexes, entertainment hubs, and public sites is on the rise. The integration of security systems with the internet and the latest mobile devices has made surveillance easier. The latest technology has also led to the introduction of infrared, microwave, radar, and seismic sensors.
Perimeter Security Market Segmentation
Grand View Research has segmented the global perimeter security market report on the basis of system, service, end-use, and region:
Based on the System Insights, the market is segmented into access control systems, alarms & notification systems, intrusion detection systems, video surveillance systems, barrier systems active barriers and others
The software video surveillance systems segment dominated the industry and accounted for the highest share of more than 45.5% of the global revenue in 2021.
Video surveillance systems are estimated to emerge as the fastest-growing type segment in the market owing to the increasing focus on the continuous capturing of images and complete safety.
The segment mainly comprises video cameras, CCTV cameras, video analytics, and smart video devices that can be linked to more than one device.
The ease of installation of video surveillance systems and their myriad applications are resulting in their increased adoption across the globe.
Video surveillance solutions deter revenue loss from stolen merchandise, vandalism, and destruction of valuable information among others.
The video surveillance systems include alarm systems and wireless home security systems that notify law enforcement agencies at the time of trouble.
Based on the Service Insights, the market is segmented into system integration & consulting, risk assessment & analysis, managed services and maintenance & support
System integration and consulting services are gaining traction among security system providers and the segment accounted for the maximum share of more than 51.00% of the global revenue in 2021. 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 & optimal functional workflow, access to real-time data, and effective performance of business operations.
The adoption of cutting-edge technologies, such as IP-based security cameras for remote access, motion sensors, and wireless technology, is driving the industry forward.
The risk assessment & analysis services are estimated to grow at a very 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, thereby identifying loopholes in the security of crucial information and preventing intruders from accessing their company premises.
Based on the End-use Insights, the market is segmented into government, military & defense, transportation, commercial, industrial and others
The military and defense segment dominated the global market in 2021 and accounted for the maximum share of more than 25.5% of the global revenue.
The increasing population and growing shopping & outing trends, along with the presence of large entertainment hubs at various locations, have led to the emergence of a vast application for perimeter security systems.
The transportation end-use segment is expected to grow at the fastest growth rate from 2022 to 2030. This growth is attributed to a wide scope of product 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. These systems are widely used to detect any intrusion into the restrained facility. Also, these systems ensure the safeguarding of privately owned land or an industrial facility.
Perimeter Security Regional Outlook
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Key players are focusing on increasing their customer base to gain a competitive edge in the market and these players are adopting various strategic initiatives, such as mergers & acquisitions, partnerships, integrating with other firms for particular technologies, and new product development.
Some of the prominent players in the global 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
Market Industry Development
April 2019: Thales acquired Gemalto, an international digital security company based in the Netherlands. This acquisition equipped Thales Group with a larger product portfolio to become a global leader in digital identity and security.
May 2016: Hikvision acquired U.K.-based intrusion alarm specialist Pyronix. This acquisition will give Hikvision a foothold in an entirely new sector of the security hardware industry.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.