Perimeter Security Market worth $114.2 billion by 2029- Exclusive Report by MarketsandMarkets™

CHICAGO, May 1, 2024 /PRNewswire/ -- The combination of cutting-edge technologies like artificial intelligence (AI) and the internet of things (IoT), with an emphasis on cloud-based solutions, improved user experiences, and cyber-physical security, will define the future of the Perimeter Security Market. Innovation will be fueled by resilience, industry-specific solutions, and regulatory compliance, guaranteeing flexible and comprehensive security measures in a dynamic threat environment.

The global Perimeter Security Market size is projected to grow from USD 81.4 billion in 2024 to USD 114.2 billion by 2029 at a CAGR of 7.0% during the forecast period, according to a new report by MarketsandMarkets™. The Perimeter Security Market is primarily driven by rising security concerns from terrorism, criminal activities, and illegal immigration. Technological advancements in surveillance and detection, such as intelligent video analytics and biometric systems, and the need to secure critical infrastructure in key sectors are significant contributors. Regulatory demands and the integration of AI and ML technologies also boost the market, enhancing system adaptability and effectiveness.

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Scope of the Report

Further, the Perimeter Security Market sees opportunities in developing smart cities, urbanization, and the increasing integration of IoT devices, which enhance monitoring capabilities. Opportunities in public-private partnerships and innovations in wireless technology and data analytics further enhance system scalability and efficiency, fueling market expansion., which plays a crucial role in fueling the growth of the Perimeter Security Market.

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By system segment, the perimeter intrusion detection system (PIDS) will grow at the highest CAGR during the forecasted period.

Due to several key factors, the PIDS segment is anticipated to have the highest CAGR in the Perimeter Security Market during the forecasted period. Firstly, the increasing prevalence of sophisticated security threats and the need for advanced security measures make PIDS essential for early detection and response. PIDS technologies, which include sensors and surveillance equipment that detect unauthorized entry attempts, are becoming more advanced with the integration of AI and machine learning. These enhancements improve the accuracy and speed of threat detection, reducing false positives and enabling quicker response times. The growth of critical infrastructure projects worldwide, such as energy grids, transportation hubs, and data centers, necessitates robust security solutions that preemptively identify and mitigate potential breaches. These facilities often face higher security risks, so the demand for effective PIDS is robust. Moreover, technological advancements in PIDS, such as integrating IoT devices and wireless technology, are expanding their capabilities and applications, making them more versatile and practical in various environments, from urban centers to remote locations. These factors collectively contribute to the growing adoption and growth of PIDS.

The commercial sector segment holds the largest market size during the forecast period by end-use sector.

The commercial end-use sector is forecasted to have the largest market size in the Perimeter Security Market due to several factors. Firstly, commercial properties, including retail centers, office buildings, and warehouses, face diverse security threats that demand robust surveillance and access control systems. The growth of urban areas and the increasing value of commercial assets also necessitate advanced security measures to protect against theft, vandalism, and unauthorized access.

Moreover, the expansion of the retail industry and the rise of mixed-use developments that combine retail, residential, and office spaces increase the complexity of security needs, driving demand for comprehensive perimeter security solutions. Additionally, businesses are increasingly adopting IoT devices and integrating them into their security systems, further driving the growth of the Perimeter Security Market in the commercial sector. It is further complemented by stringent regulatory and compliance requirements, which mandate businesses to invest in adequate security systems to mitigate risks and avoid potential liabilities.

By region, the Asia Pacific market will grow at the highest CAGR during the forecast period.

The Asia Pacific region is projected to experience the highest CAGR in the Perimeter Security Market, driven by rapid urbanization, industrial growth, and infrastructure development across countries including China, India, and Japan. The Asia Pacific region is witnessing significant investments in innovative city projects and critical infrastructure, necessitating advanced security measures. The increasing economic development also leads to heightened security needs for protecting commercial, industrial, and residential areas. The region's growing technological adoption, including integrating IoT and AI in security systems, further fuels the demand. Moreover, Asia Pacific's focus on enhancing public safety standards in response to rising crime rates and terrorism threats also contributes to the robust growth of the Perimeter Security Market.

Top Key Companies in Perimeter Security Market:

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 (US), Fiber SenSys (US), Ameristar Perimeter Security (US), OPTEX (Japan), Panasonic (Japan), Southwest Microwave (US), Avigilon (Canada), Advanced Perimeter Systems (UK), Cias (Italy), Gallagher (US), Ingersoll Rand (US), Infinova (US), RBtec Perimeter Security Systems (US), SORHEA (France), PureTech Systems (US), SightLogix (US), Scylla (Israel), Veesion (France), Pivotchain (India), Prisma Photonics (Israel), Openpath (US), Density (US), Barrier1 Systems (US), Alcatraz (US), and Kisi (US) are the key players and other players in the Perimeter Security Market.

Recent Developments

• In April 2024, Hikvision launched the AX HOME series, a wireless alarm system that helps provide enhanced home security. Adhering to European Standards EN grade 2, it is energy-efficient, utilizes minimal cellular data, and is designed for ease of use. It features seamless integration with third-party devices, a user-friendly setup, and remote maintenance capabilities, ensuring robust protection and a hassle-free user experience.
• In December 2023, Honeywell planned to enhance its building automation capabilities by acquiring Carrier Global Corporation's Global Access Solutions business. The strategic move aimed to align Honeywell with automation megatrends supported by digitalization. The transaction included hardware and software solutions, adding three respected brands to Honeywell's portfolio, thus helping the company focus on life safety and digital access solutions.
• In February 2023, Axis Communications and Genetec Inc., through a collaboration, introduced AXIS Network Door Controllers powered by Genetec, an enterprise-grade access control solution integrating Axis network door controllers with Genetec's Synergis access control software. Such a collaboration delivers a scalable, easy-to-deploy solution offering enhanced cybersecurity, reduced installation time, and hardware costs, making it ideal for businesses seeking advanced physical security tools.
• In October 2022, Dahua Technology introduced a DHI-ASC3202B controller that simplifies the administration of credentials and door access while offering a wide range of options for complex settings. This 2-door web controller is made to expand alongside companies to guarantee that their perimeters are safeguarded at scale. The controller has two operating modes—standalone and software.
• In May 2022, Bosch Security Systems partnered with Milestone Systems. Through the partnership, Bosch provides complete integration of Bosch IP video devices with Milestone XProtect IP Video Management software. Bosch also addressed the most sophisticated safety and security needs of various applications through a partnership with Milestone Systems. Additionally, it added the Flexidome and Dinion Inteox 7100i IR cameras to the range of Inteox open cameras as fixed cameras. Further, these AI-powered cameras make numerous interior and outdoor applications in municipal monitoring, airports, government, and traffic more effective.

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Perimeter Security Market Advantages:

• In addition to improving overall security and lowering the possibility of theft, vandalism, and other security risks, perimeter security systems assist in detecting and preventing unauthorised access, incursions, and security breaches.
• Within a predetermined perimeter, these systems secure priceless items, machinery, and property from theft, damage, and unauthorised access. This lowers the risk of losses and liability for companies and organisations.
• By erecting a secure perimeter around properties, thwarting possible threats, and facilitating quick reaction to security crises, perimeter security solutions improve safety and security for staff members, clients, and guests.
• By acting as deterrents to potential intruders, vandals, and criminals, visible perimeter security systems like fences, gates, barriers, and surveillance cameras lower the risk of security breaches and unauthorised access.
• In order to enable timely intervention and response, perimeter security systems offer round-the-clock monitoring and surveillance of the perimeter and its environs. This allows for the real-time detection of suspicious activity, invasions, or security breaches.
• Because perimeter security solutions are scalable and adaptable, they can be integrated with pre-existing security infrastructure and deployed in a flexible manner to match the unique security requirements and operational needs of various organizations.
• By integrating these systems with other security technologies like video surveillance, alarm systems, and access control, a full security ecosystem is created that improves operational effectiveness and overall security.

Report Objectives

• To define, describe, and forecast the Perimeter Security Market based on component, system, service, end-use sector, and region:
• To predict and estimate the market size of five central areas: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
• To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market
• To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Perimeter Security Market
• To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Perimeter Security Market
• To profile the key players of the Perimeter Security Market and comprehensively analyze their market size and core competencies.
• Track and analyze competitive developments, such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations in the global Perimeter Security Market.

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