Chicago, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The global Perimeter Security Market is projected to grow from USD 70.8 billion in 2022 to USD 100.2 billion by 2027 at a compound annual growth rate (CAGR) of 7.2% during the forecast period, according to a new report by MarketsandMarkets™.
Increasing perimeter intrusions worldwide, rising demand for perimeter security solutions such as video surveillance access control systems, and the proliferation of smart technologies are some reasons for boosting the market growth.
The implementation of mobile-based access control, the rising need to safeguard external premises, and stringent government mandates to improve perimeter security and stop infiltration and terrorist activities are a few factors contributing to the perimeter security market's promising growth potential.
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513 - Tables
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428 - Pages
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Scope of the Report:
| Report Metrics | Details |
| Market Size in 2022 | $70.8 billion |
| Revenue Forecast Size in 2027 | $100.2 billion |
| Growth Rate | 7.2% CAGR |
| Key Growth Drivers | Proliferation of smart technologies, such as IoT, AI, and ML |
| Key Opportunities | Automation R&D and industry implementations are progressing at an increasing rate. |
| Market size available for years | 2016–2027 |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | Value (USD Million/USD Billion) |
| Market Segmentation | By Component, By Service, By System, By End-use Sector, and By Region |
| Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Key Players | Major vendors in the global perimeter security market include Honeywell (US), Dahua Technology (China), Bosch Security Systems (Germany), Hikvision (China), Axis Communications (Sweden), Senstar (Canada), Pelco (US), Raytheon Technologies (US), Teledyne FLIR (US), Thales (France), Johnson Controls (Ireland) and many more. |
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Trend: Drone detection in Perimeter Security
A recent development in perimeter security is drone detection. They can reduce the expense of disruptions. With the help of drones, tracking people and things across numerous cameras can be done smoothly, and the results may be seen on a map. For instance, cameras with built-in AI in the Genetec Restricted Security Area Solution may produce data on an object's location, speed, and trajectory. Users will be able to analyze and respond to threats more quickly due to moving targets being intuitively presented on maps and categorized as a person, automobile, or truck. The simultaneous activation of a moving camera that will intelligently steer in the direction of the moving item and follow the person with intelligent tracking. Users can follow the object over multiple cameras in real time.
Trend: Advancement in video analytics in perimeter security
With the use of video analytics, cameras can comprehend what they see and immediately inform users if there are any concerns. Additionally, it enables the instantaneous retrieval of the appropriate material from hours of recorded video and analyses the scenario by giving various data so an operator may respond more quickly and effectively to potential threats. Latest video analytics tools can analyze video material over long distances and can distinguish between real security events and fake triggers like snow, trees moving in the wind, rain, hail, and water reflections, which can make it more challenging to understand video data. The use of advanced technology like ML-enhanced video analytics is already better suited for perimeter security. Delivering great dependability is required, and doing so requires the input of sensors. They might be radar, laser, thermal, or camera sensors. These sensor inputs are necessary to provide a high-quality, dependable service.
By end-use sector, the commercial sector accounts for the highest CAGR
The commercial sector accounts for the highest CAGR in the forecasted period. With the rise in crimes, thefts, and perimeter intrusions targeting commercial sectors, including major industries such as BFSI, retail, healthcare, and office buildings, there has been a rampant increase in using perimeter security solutions to secure businesses. Additionally, the growth and innovations in technology have boosted the demand for perimeter security solutions in the commercial sector. Vendors, including Honeywell, Senstar, and Dahua Technology, offer several perimeter security services and solutions. For instance, Honeywell offers Honeywell Compact Inertial Navigation System and Honeywell Radar Velocity System. These systems are designed for commercial and military clients that want trustworthy navigation solutions with minimal size, weight, and power, in conjunction with Honeywell partner InfiniDome's anti-jamming system, GPSdome. The systems will feature many layers of Velocity security, letting them function even in GNSS-challenged or prohibited environments.
By service, the professional services segment accounts for the highest market size
The professional services segment is anticipated to account for the largest market size during the forecasted period. Several vendors, including Honeywell, Dahua Technology, Bosch, Senstar, and Thales (Gemalto), offer a variety of services in the perimeter security market in order to secure clients, organizations, and infrastructures from unauthorized access. Vendors offer expert services to strategically assist clients in organizing, designing, analyzing, implementing, and managing technological systems. System integration and consulting, risk analysis, training, and maintenance and support are some of the services offered here. Vendors evaluate the risks involved in projects to deploy new perimeter security systems or to upgrade an existing system. To assist clients in understanding the solution and its procedures, they offer educational support such as training and classroom lectures. For Instance, Thales (Gemalto) has rolled out three new Hardware Security Module (HSM) cloud-based services. The most well-liked cloud services and products communicate with Gemalto's HSMs without any issues. The company has demonstrated that it can help clients secure their encryption keys and data in the cloud, hybrid, and on-premises environments.
Opportunity: Growing focus on smart city projects
The idea of smart cities is already spreading around the world as a result of the Internet of Things (IoT) exponential growth, effective mobile and internet networks, and technical breakthroughs. Since 70 percent of the world's population is expected to reside in urban areas by 2050, this development is not only desirable but also necessary. Investments in security and surveillance will take center stage as the number of smart cities increases. Perimeter security solutions must be employed to enhance the region's security and surveillance, as well as to meet rising worries about crime and terrorism. Many governments have already begun taking action in this way. As an example, the Indian government launched the smart city mission to update the existing tier 1 and tier 2 cities and enhance resource efficiency. Due to the rising need for public safety and security, as well as the prevalence of property crimes and terrorist attacks globally, more prospects for perimeter security systems are anticipated. Several vendors, including Honeywell, Axis Communications, and Senstar, are offering many perimeter security solutions and services to safeguard these smart cities and infrastructure projects from perimeter intrusions and criminal activities.
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Top Trends in global Perimeter Security Market:
- Integration of AI and Machine Learning: The use of synthetic talent (AI) and laptop getting to know (ML) was once gaining prominence in perimeter protection solutions. These applied sciences allow structures to higher differentiate between regular things to do and manageable threats, enhancing the accuracy of hazard detection and decreasing false positives.
- IoT and Connected Devices: The proliferation of Internet of Things (IoT) units and the developing want for seamless connectivity led to an expanded demand for built-in safety solutions. Perimeter protection structures had been being designed to combine with more than a few IoT gadgets and networks for complete danger monitoring and response.
- Cyber-Physical Security Convergence: With the growing interconnectivity of bodily safety structures and digital networks, the convergence of cyber and bodily protection grew to be extra important. Organizations have been focusing on safeguarding each digital and bodily property with the aid of adopting options that furnish safety in opposition to cyber assaults and bodily breaches.
- Biometric Authentication: Biometric applied sciences like facial recognition, fingerprint scanning, and retina scanning have been being integrated into perimeter protection structures for more suitable get right of entry to control. These applied sciences provide a greater degree of protection through the usage of special organic traits for identification verification.
- Video Analytics: Video surveillance structures had been turning into greater state-of-the-art with the integration of superior video analytics. These analytics may want to routinely analyze video feeds to become aware of anomalies, song movements, and become aware of doable threats, lowering the want for guide monitoring.
- Cloud-Based Solutions: Cloud computing was once impacting the perimeter safety market by means of imparting bendy and scalable solutions. Cloud-based protection structures allowed for far flung monitoring, facts storage, and effortless get entry to to real-time records from quite a number devices.
Key Industry Development in global Perimeter Security Market:
- Advanced Sensor Technologies: The improvement and integration of superior sensor technologies, such as radar, LiDAR, and thermal imaging, have been improving the accuracy and effectiveness of perimeter protection systems. These sensors should observe intrusions in a range of environmental stipulations and supply greater dependable alerts.
- Edge Computing for Real-Time Analysis: Edge computing, the place statistics is processed nearer to the information source, was once gaining significance in perimeter protection systems. This strategy enabled real-time evaluation of video feeds and sensor data, decreasing latency and enhancing response times.
- Partnerships and Acquisitions: Many businesses in the protection enterprise have been forming partnerships and making strategic acquisitions to expand their product portfolios and decorate their capabilities. These collaborations aimed to supply extra built-in and complete safety solutions.
- Integration with Access Control and Identity Management: The integration of perimeter safety structures with get admission to manage and identification administration options used to be turning into extra common. This integration allowed for a holistic strategy to security, making sure that solely approved humans may want to get right of entry to touchy areas.
- Cloud-Based Analytics: Cloud-based analytics structures have been emerging, enabling businesses to analyze facts from a couple of sources, together with cameras, sensors, and IoT devices, in a centralized manner. This facilitated extra knowledgeable decision-making and environment friendly chance detection.
- Focus on User-Friendly Interfaces: Perimeter safety options had been turning into greater user-friendly, with intuitive interfaces that allowed protection personnel to effortlessly reveal and manipulate the systems. This vogue aimed to minimize the getting to know curve and enhance operational efficiency.
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