Perimeter Security Market Analysis | 2022-2028

Market Insights

The Global Perimeter Security Market was estimated at US$ 25.3 Billion in 2021 and is expected to grow at a CAGR of 5.9% during 2022-2028 to reach US$ 35.7 Billion in 2028.

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What is perimeter security?

Perimeter security comprises the systems and technologies used to protect assets within a predetermined perimeter by blocking any unauthorized intrusions across that perimeter.  The primary aim of perimeter security is to protect critical assets in commercial, private, industrial, and other sites. It encompasses programmatic security policies as well as the physical security of the facility.

Market Dynamics

Since there has been an increasing need for data security during sudden calamities such as natural disasters, terrorism, and so on, there has been a rapid growth in the adoption of risk management services for perimeter security.

• Risk management services are used to quantify the risk and losses associated with breaches or mishappenings without perimeter security or sometimes with perimeter security. These are generally a calculation of significant losses or data losses.
• Commercial organizations and other government financial institutions mainly use these services.

Perimeters are a first-line defense for protecting critical assets. Perimeter security system encompasses the physical security of the facility and programmatic security policies that administer protection against any malicious facility.

• Various factors such as the constant risk of terrorism, illegal immigration, increasing criminal activities, and anti-government protests have led to the need for advanced perimeter security solutions.
• The perimeter security solutions deploy technologies such as access control systems, intrusion detection systems, alarms/communication & notification systems, and video surveillance systems to meet security demands.
• Moreover, to provide an integrated security solution, such security systems include various sensors such as infrared, fiber-optic, radar, microwave, and seismic sensors, along with video surveillance and communication systems. At critical infrastructure sites, such security solutions have become a necessity.

As per the recent trends, people are investing huge amounts for the security of their property.

• Majorly, investments for perimeter security are made in various sectors such as aerospace and defense, commercial buildings/complexes, critical infrastructure, government, correctional facilities, industrial, and others.

In the commercial buildings/complexes sector, the owners of the buildings and complex face security issues that concern owners and occupants equally.

• It is necessary to provide the best security and to ensure the safety and protection of the intellectual and physical property of the people.
• The major concerns are employee theft, property crime, and information security. Many key players invest millions of dollars to increase security, protect people, and solve security-related issues.

The large investments planned by the Chinese Government to enhance perimeter security across all public places in the major cities. However, this has also led to increased concerns about violating the privacy of ordinary citizens. To give an example of the plans, there are more than 1.8 million video surveillance cameras in the Guangdong province. The Chinese police are planning to link all CCTV in public places to monitoring centers and use facial recognition technology extensively by 2023 in its video surveillance systems.

Segments Analysis

By Services Type

The market is segmented into professional and managed services based on the services. Professional services hold the largest market share in 2021, whereas managed services are expected to register the highest growth rate during the forecast period.  Managed services employ experienced, dedicated security analysts passionate about defending the network so that the client doesn’t have to be concerned about this, saving the company’s time and money. They are always available to ensure that priorities and concerns are relevant and addressed immediately. These security analysts monitor both the network and the global threat environment 24/7/365, responding instantly when threats and attacks are identified. Due to these vast advantages, the market for managed security is expected to have a significant share in the perimeter security market.

By Industrial Vertical Type

The market segment is segmented into commercial, government, industrial, infrastructure, military and defense, and residential, educational, and religious buildings. The commercial building and construction sector is expected to register a high growth rate during the forecast period. In commercial buildings, the usage of perimeter security systems can prevent access to a property through means such as fences, walls, bollards, infra-red perimeter beams, and so on. Video surveillance systems, gate barriers, and access controls can be installed to provide security cover to commercial sites. High perimeter security in commercial buildings prevents intruders from entering the office building. In such cases, thermal imaging cameras along with main gates are linked to an access control system that enhances commercial complexes' perimeter security system. Thus, the high demand for security across commercial buildings is boosting growth in the global market.

Regional Analysis

North America is likely to maintain its supremacy in the perimeter security market throughout the forecast period.  The growth in the North American market is mainly driven by key market players such as Sorhea Inc., Honeywell International Inc., etc. All such companies are in continuous development for the new technology, uplifting the growth in the North American market. Demand for the new hybrid systems, high-megapixel cameras, and analytics is high in this region. Since the 9/11 terrorist attack, the government has taken initiatives toward implementing advanced surveillance systems in government buildings and all high-security areas. Moreover, mishappenings like campus shootings and other criminal activities are compelling educational institutes to adopt an advanced IP surveillance system to safeguard their parameters. The ongoing expansions in communication networks in the region have also fuelled the growth of parameter security systems.

Concurrently, the perimeter security market in the Asia Pacific is anticipated to expand at the highest CAGR during the forecast period. The major economies in this region are emphasizing modernizing their existing military systems, driving the growth of the Asia Pacific perimeter security market. Perimeter security is of critical concern for India due to a large number of reasons, such as terrorist activities in the country; rising criminal activities; infrastructure development; and also, the huge amounts of investments being made by the government in the security of the nation, especially, in the outer security perimeter has given a boost to the market.

Key Players

There is stiff competition in the perimeter security market. The growth of the companies is directly dependent on industry conditions and government support. These companies differentiate their perimeter security based on their quality and penetration in the target and emerging markets. Also, some major mergers and acquisitions in the industry recently have significantly influenced the competitive dynamics. For example:

• In April 2019, Gemalto was acquired by Thales; the acquisition allows Thales to expand its product portfolio to grow to be a global leader in security and digital identity.

The overall competitive landscape has been affected due to these mergers and acquisitions. The following are the major players in the perimeter Security Market:

• Bosch
• Dahua Technology
• FLIR Systems
• Hikvision
• Honeywell

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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