Growing Demand from Commercial Sector to Drive Perimeter Protection Market
The Global perimeter protection market is expected to exhibit a strong 7.40% CAGR over the forecast period from 2022 to 2030, according to the latest research report from Market Research Future (MRFR). The report estimates the global perimeter protection market’s valuation to increase to USD 132.4 billion by 2030. The report presents a detailed analysis of the market’s historical growth trajectory through a detailed overview of the market’s figures through the historical review period. Primary as well as secondary information about the global perimeter protection market’s historical growth trajectory is provided in the report. This provides a foundation for accurate, reliable forecasts about the market’s growth trajectory over the forecast period from 2022 to 2030. The competitive landscape of the global perimeter protection market is also explained in great detail in the report through detailed profiles of the major players operating in the market. Major trends in the competitive landscape of the global perimeter protection market are explained in detail in the report. Key factors affecting the global perimeter protection market are examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global perimeter protection market.
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Perimeter protection has become a major industry in recent years due to the growing threat of attacks and theft for commercial and governmental entities. The increasing sophistication in cross-border infiltration and increasing geopolitical threats have driven the demand for effective perimeter protection and are likely to remain a major driver for the market over the forecast period. Due to increasing geopolitical threats in the Middle East, Africa, and Central America, immigration of refugees and other war-torn peoples to more prosperous countries has increased. This has led to more reliance on illegal cross-border infiltration rather than going through legal means of immigration, which may be full or hostile. Increasing sophistication in illegal cross-border infiltration has led government bodies to invest in strong perimeter protection systems in order to stamp out illegal movement of immigrants. The increasing movement of immigrants across the world is likely to be a major driver for the global perimeter protection market over the forecast period.
Commercial entities are also likely to be a major consumer of perimeter protection systems over the forecast period. The increasing threat of data theft has led to commercial bodies investing heavily in perimeter protection systems in the last few years. The increasing volume of digital data generated in commercial enterprises and the increasing efforts from commercial bodies to safeguard their premises are likely to be a major driver for the perimeter protection market over the forecast period.
Leading players in the global perimeter protection market include Honeywell International Inc., Schneider Electric, Hikvision Digital Technology Co. Ltd., FLIR Systems, Axis Communications AB, Dahua Technology Co. Ltd., Tyco International plc, Bosch Security Systems, United Technologies Corporation, Southwest Microwave Inc., Johnson Controls International plc, Rbtec Perimeter Security Systems, Fiber Sensys Inc., Cias Elettronica, Senstar Corporation, and Puretech Systems Inc.
The global perimeter protection market is segmented on the basis of component, end user, and region.
By component, the global perimeter protection market is segmented into systems and services. The systems segment dominates the global perimeter protection market. The systems segment is further sub-segmented into perimeter intrusion detection systems, video surveillance systems, access control systems, alarm and notification systems, and others, including mobile detection platforms and intruder discouragement measures. Video surveillance systems are among the most widely used perimeter protection systems and are likely to grow in demand over the forecast period. The services sector is segmented into professional services and managed services.
By end use, the global perimeter protection market is segmented into government and defense, commercial, industrial, residential, and others. The commercial sector is likely to dominate the global perimeter protection market over the forecast period.
North America is the largest regional market for perimeter protection systems and is likely to retain the position over the forecast period.
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