The global perimeter security market is expected to reach USD 29.63 billion by 2025, according to a new report by Grand View Research, Inc. The increasing threat of terrorism and the rising illegal activities such as planned crimes, thefts, smuggling, and human trafficking have led to a rise in the adoption of security systems.
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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 internet and the latest mobile devices has made surveillance easier.
The demand for video surveillance systems is expected to grow over the forecast period due to the large-scale investments in smart infrastructure projects by various nations. The intrusion detection systems have been implemented by numerous large organizations and societies in order to protect people and valuable assets from intruders.
Perimeter security systems are expected to find major applications in the transportation end-use segment, especially at airports, railway stations and sea ports in various countries owing to the increasing incidents of security breaches across territories. The Asia Pacific regional market is expected to witness the fastest growth in the global perimeter security market.
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Further Key Findings From the Report Suggest:
• The market for the global perimeter security systems is expected to grow at a CAGR of 7.6% over the forecast period owing increasing threats across the globe
• Owing to increased availability of multiple safeguarding systems that need to be integrated for easy access of data, the system integration & consulting segment is estimated to witness growth and generate a revenue of USD 1,623.5 million by 2025
• The access control systems segment is anticipated to witness growth owing to large-scale implementation at IT & Telecom organizations, registering a CAGR of 7.4% over the next eight years
• The increasing cross-border terrorism has resulted in high investments in military & defense segment which captured a major market share in terms of revenue and is expected to reach USD 7,851.9 million by 2025.
• The Asia Pacific regional market is projected to witness substantial growth over the forecast period owing to the increasing infrastructure developments. It is expected to attain a market size of USD 8,770.9 million by 2025
• Key players including Anixter International Inc., Axis Communications AB, Honeywell International, Inc., Rbtec Perimeter Security Systems, FLIR Systems, Inc., Puretech Systems, Senstar Corporation, and Tyco International Ltd. dominate the global perimeter security market
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