Perimeter Protection Market Growth Key Competitors Analysis with Recent Trends, Size, Industry Share and Regional Forecast to 2027
Market Analysis
Market Research Future (MRFR) projects the global Perimeter Protection Market size to cross USD 276.46 billion at an impressive CAGR of 13.46% from 2020 to 2027 (forecast period).
Government Focus on Perimeter Protection
Perimeter security systems are currently being deployed at commercial and residential locations, urban and distant places, retail spaces, and transportation sites, in addition to critical infrastructure, military facilities, and other high-risk sites to prevent and detect intrusions. The escalating challenges of illegal immigration and terrorist threats have compelled governments to develop perimeter security rules and industry standards. PAS 68, for example, is a publicly published specification for vehicle security barriers developed by the UK government in partnership with perimeter security firms. It has become the official security benchmark for Hostile Vehicle Mitigation (HVM) equipment in the United Kingdom. To secure the airfield perimeter fences, the US federal government has imposed both safety and security regulations for airports. The Italian government passed Law 133 in November 2019, establishing the 'National Cyber Security Perimeter' to assure high-level security for hybrid IT networks of essential governmental agencies, state-owned organizations, and private firms. Governments are enacting regulations and highlighting the importance of securing important infrastructure sites such as oil and gas fields, nuclear power plants, and defense locations. As a result, the global market for perimeter security systems is predicted to grow in the coming years.
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Dependence on Homeland Security and Law Enforcement Authorities Amid COVID-19 Crisis
The COVID-19 pandemic has had an impact on all aspects of society, including individuals and businesses. The internet ecosystem has played a critical role all around the world. The reliance on homeland security and law enforcement authorities has grown dramatically as a result of the COVID-19 pandemic. Critical infrastructure security, emergency services, and other organizations are relying on perimeter security solutions to provide essential services to customers.
Market Segmentation
The global perimeter protection market has been segmented into components and end-user.
By component, the global perimeter protection market has been segmented into systems and services. Systems have been further segmented into access control systems, perimeter intrusion detection systems, video surveillance systems, others. Services have been further split into professional services and managed services.
By end-user, the global perimeter protection market has been segmented into Government & Defense, Commercial, Industrial, Residential, others.
Regional Analysis
North America to Dominate the Global Market
North America is the largest market for perimeter protection. A surge in terrorism directed against the US, an illegal immigration issue, and a highly digitalized industry are all factors that are propelling the market in the region.
APAC to Grow the Fastest
APAC is the region with the fastest-growing perimeter protection market. This region contains some of the world's most sensitive borders as well as a high level of terrorism. Furthermore, commercial and industrial enterprises are increasingly digitizing, necessitating the usage of perimeter security to protect critical data and decrease commodities pilferage from warehouses and industrial plants. These reasons are propelling the Asia Pacific perimeter protection market.
Key Players
Some of the notable players in the perimeter protection market report are Honeywell International Inc, Schneider Electric, Hikvision Digital Technology Co., Ltd, FLIR Systems, Axis Communications AB, Dahua Technology Co., Ltd, Tyco International PLC, Bosch Security Systems, United Technologies Corporation, Southwest Microwave, Inc Johnson Controls International PLC, Rbtec Perimeter Security Systems, Fiber Sensys, Inc, Cias Elettronica, Senstar Corporation, Puretech Systems, Inc
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