Austin, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Insights:
According to the SNS Insider, “The Perimeter Security Market was valued at USD 72.78 billion in 2023 and is expected to reach USD 152.40 billion by 2032, growing at a CAGR of 8.61% over the forecast period 2024-2032.”
Drone technology drives innovation in perimeter security with advanced surveillance and adaptability.
The perimeter security market is evolving rapidly, driven by the integration of advanced drone technology. Offering real-time aerial surveillance over expansive and hard-to-access areas, drones are transforming security measures for applications like border control and industrial site monitoring. With a 4.71% growth rate, the drone sector supports over 2.1 million workers and 33,000 companies globally, propelled by 29,000 patents and significant funding. Key investors such as Goldman Sachs and Baidu have infused over USD 1 billion across 7,000 funding rounds, advancing AI and automation capabilities. Innovation hubs like New York, London, and Bangalore are leading in drone-based security deployments, enabling unparalleled scalability, precision, and adaptability, making drones essential for robust and proactive perimeter protection.
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Leading Market Players with their Product Listed in this Report are:
- Honeywell
- Axis Communications
- Bosch Security Systems
- Flir Systems
- Tyco International (Johnson Controls)
- Siemens
- Videotec
- Dahua Technology
- Avigilon
- Schneider Electric
- Anixter
- Ubisense
- Leidos
- Perimeter Protection
- Magal Security Systems
- Smiths Detection
- Geutebrück
- Northrop Grumman
- Vicon Industries
- Kantech (Tyco Security Products).
Perimeter Security Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 72.78 Billion |
| Market Size by 2032 | USD 152.40 Billion |
| CAGR | CAGR of 8.61% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By System (Access Control Systems, Alarms and Notification Systems, Intrusion Detection Systems, Video Surveillance Systems, Barrier Systems, and Others) • By Service (System Integration and Consulting, Risk Assessment and Analysis, Managed Services, Maintenance and Support) • By End User (Government, Military and Defense, Transportation, Commercial, Industrial, Others) |
| Key Drivers | • The growing threat of terrorism and criminal activities around the globe is one of the primary drivers for the perimeter security market. • Organizations, governments, and individuals are increasingly recognizing the significance of security and safety in both private and public sectors. |
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Key systems and services propel growth and innovation in the perimeter security market.
By System
In 2023, video surveillance systems dominated the perimeter security market with a 45% share, owing to their efficiency in real-time monitoring and preventing security breaches. Enhanced with AI and machine learning, these systems improve threat detection and cater to growing demand for remote monitoring and smart city integration. Companies like Hikvision and Dahua Technology provide AI-powered solutions widely used in airports, shopping centers, and public spaces.
Intrusion detection systems (IDS) are expected to grow at the fastest CAGR from 2024 to 2032, driven by rising security concerns and the need to protect sensitive assets. Providers like ADT and Honeywell offer advanced IDS solutions across residential, commercial, and industrial sectors.
By Service
System integration and consulting services dominated the perimeter security market in 2023, capturing a 51% share by seamlessly integrating access control systems, surveillance cameras, alarm systems, and other technologies to deliver robust perimeter defense solutions. Companies like Honeywell International provide tailored services to large enterprises, combining advanced video surveillance, motion detectors, and access control systems for comprehensive security.
The risk assessment and analysis segment is poised for the fastest CAGR growth from 2024 to 2032, driven by the need to identify and address vulnerabilities in perimeter security setups. Bosch Security Systems excels in this area, offering customized risk evaluation services, integrating threat detection, alarm management, and real-time monitoring to mitigate risks and enhance facility protection.
North America Leads the Perimeter Security Market with Rapid Growth in Asia-Pacific
North America held a dominant 33% market share in 2023, driven by increased security concerns, technological advancements, and widespread adoption of cutting-edge security solutions. The U.S. has been a leader in investing in perimeter security, with both public and private sectors implementing AI-powered surveillance, intrusion detection, and enhanced perimeter fencing systems. Honeywell’s intelligent video surveillance systems are particularly crucial for safeguarding high-risk areas, improving situational awareness and response times.
The Asia-Pacific region is set to be the fastest-growing market from 2024 to 2032, driven by rapid urbanization, infrastructure development, and rising security threats in countries like China, India, and Japan. Government initiatives and smart city investments, along with companies like Hikvision, are accelerating this growth.
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Recent Development
- March 29, 2024: Bosch to Showcase Smart Security Solutions at ISC West At ISC West 2024, Bosch will highlight its new security solutions, featuring visual and audio intelligence to improve safety and operations across various industries. These include the latest video cameras with Intelligent Video Analytics Pro (IVA Pro) for enhanced perimeter security, and the Commercial Series (Gen2) motion detectors, designed to improve detection performance and reduce false alarms.
- Jan. 30, 2024: Schneider Electric Hit by Cactus Ransomware Attack Schneider Electric’s Sustainability Business division was targeted by a Cactus ransomware attack on January 17, 2024, leading to the theft of terabytes of corporate data. The attack caused ongoing outages to the company's Resource Advisor cloud platform, and the attackers are now extorting the company with threats to leak the stolen data.
Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Perimeter Security Adoption Rate by Region
5.2 Regulatory Impact, (2023)
5.3 Environmental Impact Metrics
5.4 Cost of Implementation (ASP)
5.5 Supply Chain Metrics
6. Competitive Landscape
7. Perimeter Security Market Segmentation, by System
8. Perimeter Security Market Segmentation, by Service
9. Perimeter Security Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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