The perimeter security market is forecast to reach $196.60 billion by 2022 from $110.64 billion in 2017 at a CAGR of 12.2% during (2017-2022) driven by the increasing concern for protecting business assets, employees and customers, increasing technological developments in video surveillance, increasing usage of internet of things (IoT), and smart technologies such as intelligence monitoring.
The report includes the study of the key players offering perimeter security solutions and services, such as Axis Communications AB (Sweden), United Technologies Corporation (US), Dahua Technology Co., Ltd. (China), Honeywell International Inc. (US), Southwest Microwave, Inc. (US), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Bosch Security Systems (Germany), Johnson Controls International plc (Tyco Systems Inc.) (Republic of Ireland), RBtec Perimeter Security Systems (US), Fiber SenSys, Inc. (US), CIAS Elettronica (Italy), Senstar Corporation (Canada), and PureTech Systems, Inc. (US).
The report includes an in-depth competitive analysis of these key players in the perimeter security market along with their company profiles, product offerings, recent developments, and key market strategies.
The video surveillance systems segment is expected to lead the perimeter security market and projected to witness the highest growth rate during the forecast period. The advancements in video surveillance applications, such as cloud services, network cameras, and big data analytics have increased the scope of the video surveillance systems segment for wider application across different sectors.
The perimeter security market in Asia Pacific (APAC) is expected to grow at the highest rate during the forecast period. APAC is expected to be the fastest-growing region, as it has witnessed economic development in terms of infrastructure (airports, railways, and highways) and robust growth in financial and banking services, which would serve as opportunities for the growth of the perimeter security market.
The market for residential, educational, and religious buildings vertical is expected to grow at the highest rate during forecast period. Security is a major concern in residential complexes, as well as, commercial areas and public places. Such concerns are increasing the demand for security solutions, such as biometrics-based electronic locks and sensor-based intruder alarm systems. Moreover, residential premises are being equipped with technology platforms to help their occupants remotely access electronic devices at home through mobile devices, such as smartphones, tablets, and laptops.