DUBLIN--(BUSINESS WIRE)--Dec 21, 2022--

The “Global Perimeter Security Market by Component (Systems (Perimeter Intrusion Detection Systems, Video Surveillance Systems, Access Control Systems, Alarms and Notification Systems) and Services), End-Use Sector and Region - Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The global perimeter security market size 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. Some factors driving market expansion include Increased security breaches and perimeter invasions globally, increased demand for perimeter security solutions such as video surveillance and access control systems, and the development of smart technologies such as IoT, AI, and ML. However, the lack of technological expertise, security training, awareness requirement, and increased maintenance and investment expenses are expected to hinder market growth.

By service, managed services to grow at a higher CAGR during the forecast period

The perimeter security industry has been segmented into two segments based on service: professional services and managed services. Users may utilize innovative video surveillance technology and management systems with managed services at a low cost removing the need to buy costly hardware and on-premises software. With the help of managed services, SMEs can pay for only those features they require rather than paying for all the features. Additionally, the features offered by managed services help in enhancing the level of perimeter security offered. Thus, managed services are anticipated to grow at the highest CAGR during the forecast period.

By end-use sector, the commercial sector accounts for the largest market size during the forecast period

The commercial sector includes several industries, including IT and telecom, BFSI, retail, warehousing, media and entertainment, accommodation, and healthcare. The perimeter security solutions that are being offered are intelligent and cutting-edge in terms of technology, and they are improving security in the main commercial sectors, including banking and retail, healthcare, and office buildings. The need for perimeter security solutions in commercial sectors is also growing as a result of the rising theft and shoplifting incidents in malls and retail outlets. Increasing security at physical sites is also important to prevent theft from businesses and malls. Consequently, the commercial sector’s CAGR increased throughout the anticipated period.

By system, perimeter intrusion detection system to grow at the highest CAGR during the forecast period

The system offering of the perimeter security market includes perimeter intrusion detection, video surveillance systems, access control systems, alarm, and notification systems, barrier systems, and other systems. The perimeter intrusion detection system identifies malicious activities, log data about them, report them, and attempt to stop them. These systems are used by facilities that require high-end security, such as prisons, industries, and defence. The growing need to secure external premises, the rise in security concerns, and the technological advancements in perimeter intrusion detection solutions are further driving the perimeter intrusion detection system across several verticals, including residential, defence, and retail. Thus it is anticipated to grow at the highest CAGR during the forecast period.

Market Dynamics

Drivers

• Increasing Security Breaches and Perimeter Intrusions Worldwide
• Rising Demand for Perimeter Intrusion Detection Systems
• Growing Use of Smart Technologies, Such as IoT, AI, and ML

Restraints

• Lack of Technical Expertise
• High Investment and Maintenance Costs

Opportunities

• Increasing Rate of Automation and Industrial Deployments
• Growing Focus on Smart City Projects

Challenges

• High Installation Cost
• Rising Incidents of False Alarm Triggers

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Perimeter Security Market, by Component

7 Perimeter Security Market, by System
7.1 Introduction
7.2 Perimeter Intrusion Detection Systems
7.3 Video Surveillance Systems
7.4 Access Control Systems
7.5 Alarms and Notification Systems
7.6 Barrier Systems
7.7 Other Systems

8 Perimeter Security Market, by Service
8.1 Introduction
8.2 Professional Services

9 Perimeter Security Market, by End-use Sector
9.1 Introduction
9.2 Commercial
9.3 Industrial
9.4 Infrastructural
9.5 Government
9.6 Military and Defense
9.7 Residential, Educational, and Religious Centers

10 Perimeter Security Market, by Region

11 Competitive Landscape

12 Company Profiles

13 Adjacent Markets

14 Appendix

Companies Mentioned

• Advanced Perimeter Systems
• Alcatraz
• Ameristar Perimeter Security
• Avigilon
• Axis Communications
• Barrier1 Systems
• Bosch Security Systems
• Cias
• Dahua Technology
• Density
• Fiber Sensys
• Gallagher
• Hikvision
• Honeywell
• Infinova
• Ingersoll Rand
• Johnson Controls
• Kisi
• Openpath
• Optex
• Panasonic
• Pelco
• Pivotchain
• Prisma Photonics
• Puretech Systems
• Raytheon Technologies
• Rbtec Perimeter Security Systems
• Scylla
• Senstar
• Sightlogix
• Sorhea
• Southwest Microwave
• Teledyne Flir
• Thales
• Veesion

For more information about this report visit https://www.researchandmarkets.com/r/ojiyhj

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SOURCE: Research and Markets

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PUB: 12/21/2022 11:39 AM/DISC: 12/21/2022 11:39 AM

http://www.businesswire.com/news/home/20221221005464/en