Perimeter Security Market

Segmentation By Component {Systems (Video Surveillance System, Access Control System and Perimeter Intrusion Detection System) and Services (Professional Services, Consulting, Training & Education and Maintenance & Support)}; By Deployment Type; By Communication Technology and By End User Vertical – Global Industry Demand Analysis and Opportunity Assessment 2018-2028

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Report ID: 2684 | Published On: Dec 06, 2022
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Market Drivers and Challenges

Growth Indicators

Increasing Focus On Smart Cities Projects

Security and surveillance are one of the primary sectors of smart city projects which involve a significant amount of investment. Several smart cities projects are going on across the globe, which addresses the need to install perimeter security solutions to enhance the security and surveillance of the area. For instance, in 2015, the Government of India launched the smart city mission to modernize the existing tier 1 and tier 2 cities so that better utilization of the resources can be made. As a part of this project, India considered a plan to install smart technologies, where there would be a substantial deployment of security systems, such as perimeter intrusion detection systems and video surveillance systems. As per the Ministry of Housing and Urban Affairs, India's government has announced a smart city project in the country under which it targets to make 100 smart cities with the public and government investment of nearly US $27 billion. As a result, public safety and security would be paramount for city administrations, which in turn is anticipated to influence the global perimeter security market in the near future.

Growing Need For Security Systems On Account of Rising Number of Crimes and Terrorism

According to the US Department of Justice, in 2018, the crime rate pertaining to property was assessed at 2,199.5 per 100,000 inhabitants. Larceny accounted for over 72.5%, burglary at 17.1, and motor vehicle thefts registered at 10.4% of the United States' total property crimes.

share of property Graph

The vast numbers of property crimes and growing terrorist attacks across the globe are anticipated to drive the demand for perimeter security systems during the forecast period. Moreover, on account of the growing property crime offenses, there is a growing demand for door security options such as electronic doors and biometrics authentication in residential premises, which in turn is anticipated to drive the global perimeter security market.

Perimeter Security Market Graph
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Market Segmentation Synopsis

By Component

The global perimeter security market is segmented on the basis of components into systems and services. The systems segment, which held the largest market share in the year 2019, accounted for USD 11,829.1 Million in 2019 and is expected to grow up to USD 19,605.3 Million by 2028, at a CAGR of 7.18% during the forecast period. The systems segment is further segmented into video surveillance system, access control system and perimeter intrusion detection system, out of which, the video surveillance system segment is expected to hold the largest market share. Video surveillance system consists of hardware such as IP & analog cameras and recorders, along with software, such as VMS or video management software. The growing concerns regarding public safety and rise in the number of thefts along with the growing adoption of IP cameras are anticipated to spur the growth of the video surveillance system segment. On the other hand, access control systems consist of biometrics, locks, card readers, control panels, motion detectors, intercom, and active & passive barrier among others. The growing use of biometrics such as fingerprint scanning, facial recognition & iris scanner along with the growing demand for electronic locks in the construction industry is expected to positively impact the growth of access control systems segment. Apparently, the perimeter intrusion detection system consists of sensors, intelligent lighting and immediate & visible alarms. Stringent government regulations to curb infiltration and the need to improve perimeter security are providing lucrative growth opportunities to vendors of various security systems such as perimeter intrusion detection & prevention and video surveillance systems.


Concerns for Data Privacy

The implementation of IoT in security solutions offers numerous ways to improve the perimeter security system; however, data privacy also remains one of the major concerns for perimeter security solutions incorporating IoT. CCTV cameras, recorders, and access control systems, among others, are upgrading and are rapidly shifting to the wireless platform, which involves IoT. This system contains a considerable amount of users’ data, which, if exposed or breached, could pose a severe threat to the user—thereby acting as a restraining barrier for market growth.

share of property Graph

Key Questions Answered in the Report

1) What are the major factors driving the growth of the Perimeter Security market?

Ans: Increasing need for deployment of perimeter security solutions to enhance the security and surveillance of smart cities are some of the major factors that are driving the growth of the market.

2) What would be the CAGR of Perimeter Security market over the forecast period?

Ans: The market is anticipated to attain a CAGR of 7.56% over the forecast period, i.e. 2020-2028.

4) Which region will provide more business opportunities for growth of Perimeter Security market in future?

Ans: The market in Europe is anticipated to display significant business opportunities in the future.

5) Who are the major players dominating the Perimeter Security market?

Ans: The major players in the 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.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the major segments in the global perimeter security market?

Ans: The market is majorly segmented by component, deployment type, communication technology, end user vertical and by region.

8) What can be the significant growth opportunity for the components segment in the perimeter security market?

Ans: The systems segment, which is a sub-segment of the components segment, held the largest market share in the year 2019 and is anticipated to display significant growth opportunity.

8) What are the restraining factors for the market?

Ans: Concerns for the threat on data privacy is one of the major factors anticipated to act as a barrier towards the growth of the global perimeter security market.

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