Perimeter Security Market
The Perimeter Security Market is projected to expand at a robust CAGR during the forecast period (2020-2027).
The factors driving the growth of Perimeter Security Market includes increasing cases of theft, cross border terrorism, illegal immigration and burglary, rise in the number of smart cities and growing popularity of integrated fiber-optic intrusion detection systems. According to the report published by the Economic Times, the Government of India is planning to build 4,000 smart cities by the end of 2023, which is expected to boost the Perimeter Security Market size in India in the approaching years. Moreover, the increasing installation of security systems at the shopping complexes, malls and public places, growing adoption of automated technologies, regulations imposed by Government regarding security systems and rising investments by the leading players on research and development related activities, are some of the additional factors supplementing the Global Perimeter Security Market. In addition, the increasing disposable incomes, rapid urbanization, growing demand for video surveillance systems in the workplace and rising population growth rates, are further contributing to the market growth.
However, the growth of Perimeter Security Market is hindered attributed to inadequate knowledge about security risks.
The leading players operating in the market are Axis Communications AB, Dahua Technology Co., Ltd., Bosch Sicherheitssysteme GmbH, Johnson Controls International Plc, RBtec Perimeter Security Systems, Fiber Sensys, Inc., Honeywell International Inc., Hikvision Digital Technology Co., Ltd., Southwest Microwave, Inc., and Cias Elettronica Srl, among others.
Component: Segment Analysis
Based on Component, the system segment is predicted to expand at a remarkable CAGR during the forecast period owing to increasing demand for video surveillance systems in the commercial and residential areas.
Vertical: Segment Analysis
Based on Vertical, the residential segment is projected to grow at a significant CAGR over the forecast period. The increasing incidences of theft and burglary in the residential complexes, rise in the number of smart homes and growing demand for biometrics-based electronic locks in the residential areas, are augmenting the growth of the segment.
Regional: Segment Analysis
Based on Region, the Asia-Pacific region is predicted to capture a sizeable market share during the forecast period. The increasing incidences of cross border terrorism and illegal immigration in South Asia, growing demand for advanced security systems, high population growth rates, rapid urbanization, rising disposable incomes and improvements in the living standards, are some of the important factors influencing the market growth in Asia-Pacific.
Segmentation by Component
Segmentation by Vertical
Segmentation by Region
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