Perimeter Security Market

Perimeter Security Market size reached USD 68.2 billion in 2022 and is estimated to reach USD 129.1 billion in 2030 and the market is estimated to grow at a CAGR of 8.3% from 2023-2030.

To have an edge over the competition by knowing the market dynamics and current trends of “Perimeter Security Market”, request for Sample Report here

Major Perimeter Security Market Drivers

The global perimeter security market is predicted to propel due to some primary drivers including the growing need for perimeter security systems, significant adoption of AI, ML, and IoT technologies, considerable growth, and development in the infrastructure, rise in criminal acts, and unlawful immigration, coupled with technological innovations in video surveillance and substantial increase in the cost of human resource. Governments are compelled to establish strict safety standards due to the rising attacks of terrorism, and cross-border interventions, leading to market expansion. The rapid rise in infrastructure development and enhancement and establishment of smart cities is a foremost driving factor in the market. The Indian Ministry of Housing and Urban Affairs successfully announced a project on the smart city around the country which poses the target to make 100 smart cities with government and public spending of approx. USD 27 billion. Thereby, the safety and security of the public would be foremost for the city management administration, which would result in a positive impact on the global perimeter security market in the forecast period.

Globally, different governments have set up rules to make their provinces safe. For those who adopt different innovative technologies, the government gives them subsidies also. Government-favorable and active assistance for implementing dissimilar security solutions in critical fields in the expansion. For instance, the pan-European think-tank, European Leadership Network, crafted social impact bonds addressing terrorism concerns, specifically targeting the prevention of radioactive medical waste for potential use in nuclear terror attacks. In addition, the OSCE’s aim on human rights and counterterrorism could develop perimeter security market in European cities. In the domain of automation, technological innovations have resulted in the rapid implementation of innovative and developed approaches, such as aerial drones, and video surveillance to deliver better results. With the significant rise in safety concerns among the communal population, the producers have resulted in developed and advanced multilayered perimeter protection systems.

Some of the systems that are increasingly gaining prevalence are infrared and integrated fiber-optic intrusion detection systems and electric fencing with sensors. Perimeter security system has a wide scope which includes different applications including military & defense sectors, banks, national borders, commercial domains, government offices, and many other huge commercial and industrial plants in different sectors of the market. For instance, in 2018, the Indian Defense Ministry allotted Rs 1487 crore to strengthen Army bases with increased perimeter security, specifically in anticipation of potential hostilities from neighboring countries. Moreover, the considerable increase in the total of cyberattack cases globally, that increasingly require high security parameters and cybersecurity, which in turn is predicted to propel the perimeter security market size growth globally.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Transit, military and defense, government, critical infrastructure, penal facilities, industrial, and commercial actively and significantly used enhanced and innovative perimeter security solutions. Traditional perimeter security platforms have given way to more advanced counterparts using ML, AI, facial recognition, and computer vision. The incorporation of these cutting-edge technologies has not only developed efficiency but has also prompted producers to innovate and develop improved measures of perimeter security solutions. Computer vision-powered perimeter security solutions and technologies, artificial intelligence, and machine learning are important for security measures at national borders, smart city infrastructure, and government premises. The integration of video surveillance systems with facial recognition, advanced license plate recognition, advanced object tracking, ML, AI, and several other state-of-the-art technologies is advancing perimeter security for industrial locations, airports, commercial buildings, and many other locations. The fusion of surveillance and AI holds the potential to recognize real-time threats and forecast future unlawful activities. Additionally, enterprises can acquire benefits such as admittance to real-time data, enhanced company functions, and a streamlined, optimized operational workflow through system consulting and integration services. Cutting-edge technologies such as IP-derived security cameras for distant access, wireless technology, and motion sensors, are propelling the perimeter security market growth.

Market growth is hindered by the scarcity of qualified professionals offering essential security training and consultation. In addition, the challenge of processing extensive video data of individual wireless nodes for surveillance is blocking further market expansion. The market faces growth limitations due to a shortage of professional expertise in IP camera management, coupled with high initial deployment costs. In addition, the non-existence of data standardization and growing apprehensions about cybersecurity and data privacy are restraining the market in the forecast period.

Whereas, the growth of perimeter security industry is driven by opportunities arising from the growing adoption of AI-based unmanned aerial vehicle innovations, including drones for aerial surveillance. Moreover, the market benefits from the ongoing technological developments and a move towards digital solutions to develop safety and surveillance compared to traditional methods. It is predicted that the market growth will attain a boost through the implementation of advanced approaches, including the deployment of IP-based surveillance cameras, remote monitoring, wireless technology, and motion sensors. Further, the market is expanding through smart AI-based software equipped with distributed intelligence, which recognizes activities, events, and specified behaviors through movement pattern identification. This technology facilitates prompt immediate warnings to security resources, contributing to the overall development of the market. Nevertheless, the new product establishments, strategic collaborations, and significant rise in spending in different research and development activities by organizations are predicted to propel the market globally. For instance, in 2020, the U.S. Marine Corps disclosed a USD 16.1 million contract with FLIR Systems Inc. for electro-optical sensors designed for beyond-the-fence surveillance.

By Service, Professional Services Segment Registered the Largest Market Size in the Global Market

The service segment in the global perimeter security market is classified into two including managed services and professional services. To function accurately, any ecosystem requires professional services to operate. Risk analysis, maintenance and support, system integration and consulting, among others are some of the services given here. The professional services segment witnesses growth in market share owing to increased demand for mobility among service consultants, a want for enhanced productivity, and effectiveness, and increased vulnerability to cyberattacks resulting from corporate digitalization. These driving factors contribute to the expansion of segments in the forecast period.

By Component, System Segment Dominated the Largest Revenue Share in the Global Market

Based on components, global perimeter security is segmented into systems and services. Perimeter security employs a variety of systems, such as access control, video surveillance, and perimeter intrusion detection, to develop security measures. These systems play a significant role in detecting and deferring crime in spaces and public places such as malls, banks, airports, and several others.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

By Region, North America Region Exhibited Highest Growth in the Global Market

North America region market growth is attributed to the existence of giant market players in the technological domain, rise in research and development activities, development and growth in the smart infrastructure, favorable governmental rules and regulations, rise in cyberattacks and unlawful activities, and adoption of IoT, ML, and AI in varieties of technologies. Moreover, the considerable growth in the adoption of smart and automated homes and an increasing adoption of innovative and developed perimeter security systems are also driving the North American perimeter security market in the forecast period. Additionally, the growing number of smart city projects, rising implementation of automated technologies, and growing disposable income, coupled with a large customer base in Canada, and the U.S. are anticipated to foster the market growth around the region.

Top Market Players

Various notable players operating in the market include Honeywell International Inc., Fiber Sensys Inc., Advanced Perimeter Systems Ltd, United Technologies Corporation, ActivIdentity, Senstar, Xtralis, Cyberark, Schneider Electric SE, Rbtec perimeter security Systems, Axis Communications, FLIR Systems Inc., among others.

Key Developments: 

• • In 2022, Honeywell successfully launched a fire alarm and detection system i.e., Morley Max to develop building safety and to expand its product portfolio.
  • In 2022, Dahua Technology announced their new product i.e., Night Color 2.0 Fusion Camera which has dual-lens technology and delivers full-color pictures where there is less light.
  • In 2022, Senstar announced the establishment of its new software development branch across Romania to be competitive in the market and expand the product portfolio.
  • In 2020, Dahua Technology introduced Retail Epidemic Safety Protection Solution to help retailers with daily operations and enhance business efficiency. The government and other organizations are continuously choosing different measures to keep the staff as safe as possible has persuaded the Retail Epidemic Safety Protection Solution to slow the spread of the virus and create a safe in-store shopping experience for customers.
  • In 2020, Honeywell declared the launch of Honeywell Forge Cybersecurity Suite. The Honeywell Forge Cybersecurity Suite improves industrial-grade remote access, expands asset discovery capabilities with active and passive functionality, and enhanced cybersecurity risk monitoring to help industrial organizations embrace remote operations.
  • In 2020, Honeywell launched a security system, Pro-Watch Integrated Security Suite, a software platform designed to help protect people and property. It provides complete visibility of all connected systems and combines access control, video surveillance, intrusion detection and other business critical functions into a single user interface. It allows organizations to complete situational awareness of their security system to protect people, property and assets. This factor is expected to enhance the product portfolio of the company.
  • In 2019 Honeywell declared the launch of Honeywell Robotics, which is an advanced technology center of excellence emphasizing on innovating and developing artificial intelligence, machine learning, computer vision, and advanced robotics for use across supply chains.
  • In 2019, Prama Hikvision, a provider of video surveillance and security systems and a joint venture company between Prama Technologies and Hangzhou Hikvision Digital Technology opened a manufacturing facility located at Vasai, India. This factor is expected to strengthen the geographical reach of the companies in India and Asia-Pacific region.
  • In 2019, Honeywell partnered with Intel Corporation for the enhancement of the security system products. With this partnership, Honeywell incorporated Intel Vision products in its MAXPRO Network Video Recorders (NVR) and Video Management Systems (VMS) that enable advanced analytics, deep learning and facial recognition capabilities.

Segments covered in the Report:

The Global Perimeter Security Market has been segmented on the basis of Component, System and End-use Sector. Based on the Component, the market is segmented into Solution, Services. Based on the System, the market is segmented into Perimeter Intrusion Detection, Video Surveillance Systems, Access Control Systems, Alarm and Notification Systems, Barrier Systems, Others. Based on the End-use Sector, the market is segmented into Commercial, Industrial, Infrastructural, Government, Military & Defense, Others.

For detailed scope of the “Perimeter Security Market” report request a Sample Copy of the report

Report Coverage	Details
Market Revenues (2022)	USD 68.2 Billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Component, By System, By End-use Sector and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Honeywell International Inc., Fiber Sensys Inc., Advanced Perimeter Systems Ltd, United Technologies Corporation, ActivIdentity, Senstar, Xtralis, Cyberark, Schneider Electric SE, Rbtec perimeter security Systems, Axis Communications, FLIR Systems Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Perimeter Security Market by Component

• • Solution
  • Services
    • Professional Services
    • Managed Services

Global Perimeter Security Market by System

• • Perimeter Intrusion Detection
  • Video Surveillance Systems
  • Access Control Systems
  • Alarm and Notification Systems
  • Barrier Systems
  • Others

Global Perimeter Security Market by End-use Sector

• • Commercial
  • Industrial
  • Infrastructural
  • Government
  • Military & Defense
  • Others

Global Perimeter Security Market by Region

• • North America Perimeter Security Market (Option 1: As a part of the free 25% customization)

    • By Component
    • By System
    • By End-use Sector
    • US Market All-Up
    • Canada Market All-Up

  • Europe Perimeter Security Market (Option 2: As a part of the free 25% customization)

    • By Component
    • By System
    • By End-use Sector
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Perimeter Security Market (Option 3: As a part of the free 25% customization)

    • By Component
    • By System
    • By End-use Sector
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Perimeter Security Market (Option 4: As a part of the free 25% customization)

    • By Component
    • By System
    • By End-use Sector
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Perimeter Security Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Honeywell International Inc.
  • Fiber Sensys Inc.
  • Advanced Perimeter Systems Ltd
  • United Technologies Corporation
  • ActivIdentity
  • Senstar
  • Xtralis
  • Cyberark
  • Schneider Electric SE
  • Rbtec Perimeter Security Systems
  • Axis Communications
  • FLIR Systems Inc.