Product Code: RP-ID-10336412 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: ICT & Telecom |
Report ID: 10336412
Market Overview:
Impact Analysis of COVID-19 on Global Perimeter Security Market Outlook 2028
Global Perimeter Security Market Analysis 2019-2028
Physical Security is defined as the implementation of security solutions to keep intruders out of the boundary or contained area. Perimeter security describes the measures to protect the assets from real-world threats and crimes. Perimeter Security includes access control, video surveillance system and testing. These systems include hardware, software, and services. The global perimeter security market is anticipated to gain a CAGR of 7.56% throughout the forecast period, i.e. 2020-2028. Factors such as the increasing technological advancements such as the transition from analog to the built-in IP network system, increasing technological advancements in wireless technology, increasing adoption of perimeter security systems such as video surveillance and access control systems across various industries such as commercial, residential, and various others, and the convergence of physical and electronic spaces are anticipated to promote the growth of the global perimeter security market. Additionally, factors such as the growing need for deployment of perimeter security solutions to enhance the security and surveillance of smart cities on the back of the growing concern for crimes and terrorism are anticipated to drive the growth of the global perimeter security market.
The global perimeter security market consists of various segments that are segmented by component, deployment type, communication technology, end user vertical and by region. The deployment type segment is further divided into buried/invisible, fence mounted, open area/free standing, retrofit installation and new installation. Out of these, the retrofit installation recorded the largest market share and further accounted a value of around USD 11000.0 million in the year 2019. The segment is further anticipated to cross a value of around USD 18000.0 million in the year 2028 by growing at a CAGR of around 7.5% during the forecast period. Retro-fit installation provides software and hardware upgrades easily while protecting current security assets/investments of the end users, as it enables the re-use of the existing infrastructure, such as biometrics, readers & cards and others. This offers huge time and cost savings for the end users and minimizes various disruptions in business.
Regionally, the global perimeter security market is segmented into five major regions including North America, Latin America, Europe, Asia Pacific, Turkey & Middle East and Africa. The market in Europe is anticipated to gain a significant market share of around 26% in the year 2019. The market in the region is further anticipated to grow at a CAGR of around 7% during the forecast period and cross a value of around USD 7600.0 million by the end of 2028.
Some of the affluent industry leaders in the global perimeter security market are Bosch Limited, Johnson Controls, Honeywell International plc, Axis Communications AB, RBtec Perimeter Security Systems, Southwest Microwave, Inc., Fiber SenSys, Inc., Senstar Corporation and Dahua Technology Co., Ltd.
Bosch Limited, Johnson Controls, Honeywell International plc, Axis Communications AB, RBtec Perimeter Security Systems, Southwest Microwave, Inc., Fiber SenSys, Inc., Senstar Corporation and Dahua Technology Co., Ltd.
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