— Perimeter Protection Market
Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global Perimeter Protection Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Perimeter Protection Market is analysed and depicted in the report.
The foreseeable trends of the global perimeter protection market 2020 have been shed light on in this report by Market Research Future (MRFR). According to the observations offered in this MRFR report, the global perimeter protection market is assessed to strike 13.46% CAGR over the review period 2019 to 2025. It is also projected to scale decent valuation of USD 276.46 Bn by the end of 2025.
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Increasing security breaches have led to advancements in product portfolios of the market players. These products have found application in residential, commercial, and industrial spaces. Increasing urbanization, coupled with rising living standards, is supposed to drive the growth of the perimeter protection market by proliferating residential applications in developed and developing regions. In addition, due to the global economic development, commercial projects are increasing. It is supposed to drive the growth of the market. Industrial sector has also been observing developments that are anticipated to attract investments into security solutions. The awareness about data espionage is expected to lead the augmentation of the perimeter protection market. In today’s era, industries are adopting IoT which has led to the generation of massive data. This information is crucial and requires to be protected. It is supposed to work in favor of the growth pattern of the perimeter security market.
The end-uses observed in perimeter protection market are government & defense, commercial, residential, industrial, and others. Among these, the commercial use is prognosticated to drive the expansion of the market and dominate the market in the foreseeable future. Commercial spaces are investing in the prevention of corporate espionage and increasing security solutions. These factors are projected to drive the expansion of the segment in the upcoming years. In addition, rising commercial construction projects are also prognosticated to have a favorable influence on the market.
Two types of components are used in the market - system and services. The types of services offered are managed services and professional services. The different systems assessed in this report are perimeter intrusion detection systems, access control systems, video surveillance systems, alarm and notification systems, and others. Among these, the system segment is anticipated to hold the maximum share of the market. Increasing deployment of systems such as perimeter intrusion detection, video surveillance, etc. are anticipated to catalyze the expansion of the segment across the next few years.
By Component: The largest market within the component segment is the perimeter protection systems market. A vast category, perimeter protection encapsulates perimeter intrusion detection systems, video surveillance systems, access control systems, alarm & notification systems, and others. Perimeter intrusion detection systems excel in detecting a breach in the perimeter and their quick response time allows for effective countermeasures to be deployed. Video surveillance systems are affordable and can easily plug the gaps within a security perimeter. They can be monitored remotely, can store image and video data for long periods, and can be deployed in all manners of environment. Access control systems are reliable, relatively cheap, and offer significant deterrence to intruders.
By End User: By end user, the largest market is the commercial perimeter protection services market. Commercial enterprises need to safeguard sensitive information and prevent corporate espionage. Commercial enterprises also deter theft with the implementation of perimeter protection. The government and military market for perimeter protection is growing due to an increase in global terrorism, cross-border infiltration, and illegal immigration. The US-Mexico border is an example of how perimeter protection is being used to safeguard more than 3000 km. The defense of government and military installations is also a critical aspect of this market segment.
North America: The North American perimeter protection market is currently the largest regional market. North America faces a high degree of threat from terrorism and is trying to combat a growing illegal immigration problem. It also is the world’s largest economy with many commercial and industrial enterprises. These are factors which are driving the growth of the perimeter protection market in the region.
US: The US has the largest perimeter protection market globally. A porous border with Mexico sees over 350 million border crossings a year, the vast majority of which are illegal. These routes are also responsible for the ingress of contraband into the US. Commercial and industrial enterprises in the country have a demand for perimeter protection to safeguard sensitive information and to reduce instances of product theft and pilferage. A highly urbanized society, the deployment of perimeter protection is seeing a reduction in urban crime rates due to its marked deterrent effect. These factors serve to drive the US perimeter protection market.
Europe: Europe is a highly urbanized society with a need to monitor its urban environs to detect and deter criminal activity. Its industries and commercial enterprises also generate a demand for perimeter protection.
UK: The UK has a high demand for perimeter protection for its commercial and industrial enterprises as well as for its residential areas. A spate of terrorist activities has highlighted the gaps in its perimeter security, something the country is actively trying to overcome.
Russia: Russia has a need to safeguard its military installations, oversee its vast land borders, enhance urban security, and provide security for its commercial and industrial enterprises.
Asia-Pacific: The fastest-growing regional market for perimeter protection is Asia-pacific. Geopolitical considerations, the need to safeguard industrial, commercial, and residential spaces, and increase in urbanization are all factors driving this market.
Honeywell International Inc.
Hikvision Digital Technology Co., Ltd.
Axis Communications AB
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Organization: Market Research Future
Release ID: 88964523