The Perimeter Security Market is Projected to Grow from USD 61.3 Billion in 2020 to USD 96.5 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 7.9% during the Forecast Period.
The rise in perimeter intrusions, theft incidences, burglary, cross-border terrorism, illegal immigration, and other intrusions to drive market growth.
By component, the system segment to register the highest growth rate during the forecast period
The systems segment of the perimeter security market is broadly categorized into perimeter intrusion and detection systems, video surveillance system, access control, alarm and notification systems, and other systems. It involves the use of a wide variety of systems to enhance security measures. These systems investigate and prevent crime in public places, such as airports, shopping malls, and banks. The increasing concern for safety and the rising incidents of terrorism are expected to drive the demand for perimeter security systems, globally.
By service, the managed service segment to register the highest growth rate during the forecast period
Today's demanding business environments require proficient handling of business processes by implementing tested solutions across organizations. Time consuming processes, lack of resources, and overhead costs involved in managing in-house services have forced organizations to outsource certain processes. Managed service providers ensure not only the security of critical business information but also the smooth functioning of business operations. Therefore, the managed service segment holds the highest growth rate during the forecast period.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview 5.1 Market Dynamics 5.1.1 Drivers 18.104.22.168 Rise in Perimeter Intrusions, Theft Incidences, Burglary, Cross-Border Terrorism, Illegal Immigration, and Other Intrusions 22.214.171.124.1 COVID-19 Impact 126.96.36.199 Stringent Government Regulations and Industry Standards to Curb Terrorism, Cross Border Intrusions, and Protection of Critical Infrastructures 188.8.131.52 Technological Proliferation with Growing Use in IoT, IIoT, and Smart City Projects 184.108.40.206 Adoption of Latest Techniques, Including Ip-Based Video Surveillance Cameras for Remote Monitoring, Wireless Technology, Motion Sensors, and Aerial Drones 220.127.116.11.1 COVID-19 Impact 5.1.2 Restraints 18.104.22.168 Lack of Technical Expertise, and the Need for Security Training and Awareness 22.214.171.124 High Initial Installation, Maintenance, and Deployment Cost for Perimeter Security Systems 126.96.36.199 Violation of Privacy 188.8.131.52.1 COVID-19 Impact 5.1.3 Opportunities 184.108.40.206 Emergence of Ai, Facial Recognition, ALPR, Computer Vision, and Big Data Analytics in Perimeter Security Systems 220.127.116.11.1 COVID-19 Impact 18.104.22.168 Adoption of Cloud Technology in the Perimeter Security Industry 22.214.171.124.1 COVID-19 Impact 5.1.4 Challenges 126.96.36.199 Integration of Logical and Physical Components of Security Systems 188.8.131.52 Need for High Bandwidth Data Transfer 184.108.40.206.1 COVID-19 Impact 220.127.116.11 Ensuring High Detection Probabilities with Low False Alarm Rates 18.104.22.168 Need for High-Capacity Storage for High Resolution Images and Video Recordings 22.214.171.124.1 COVID-19 Impact 5.2 COVID-19-Driven Market Dynamics 5.2.1 Drivers and Opportunities 5.2.2 Restraints and Challenges 5.2.3 Cumulative Growth Analysis 5.3 Value Chain Analysis 5.4 Ecosystem 5.5 Average Selling Price Trend 5.5.1 Surveillance System Average Selling Price Trend 5.5.2 Biometric Security and Authentication System 5.6 Porter's Five Forces Model Analysis 5.7 Yc-Ycc Shift 5.8 Technology Analysis 5.8.1 Artificial Intelligence and Deep Learning 5.8.2 Mobile-Based Access Control 5.8.3 Big Data and Video Analytics 5.8.4 Internet of Things Security 5.8.5 Wireless Security Systems 5.8.6 Ip-Based Cameras 5.8.7 Drones 5.9 Cybersecurity and Data Regulatory Implications 5.9.1 General Data Protection Regulation 5.9.2 Payment Card Industry Data Security Standard 5.9.3 Health Insurance Portability and Accountability Act 5.9.4 Federal Information Security Management Act 5.9.5 Gramm-Leach-Bliley Act 5.9.6 Sarbanes-Oxley Act 5.9.7 International Organization for Standardization 27001 5.10 Use Cases 5.10.1 Honeywell Intelligently Secured and Transformed Pristina International Airport 5.10.2 Dahua Technology Secured Lan Airline Premises in Peru 5.10.3 Hikvision Safeguarded Vehicle Company Via Internet Protocol Closed-Circuit Television Systems 5.10.4 Cisco Helped the City of San Luis Potosi Improve the Physical Security of Citizens 5.10.5 Secom Eliminated the Need for Manned Guarding at Speedy Hire 5.10.6 G4S Helped Palo Alto Reduce the Cost of Human Monitoring Systems 5.11 Patent Analysis 5.11.1 Perimeter Security Patents 5.12 Adjacent Markets 5.13 Types of Components Used in Perimeter Security Systems 5.13.1 Sensor Types 5.13.2 Electronic Locks 5.13.3 Controllers 5.13.4 Access Control 5.13.5 Biometric Readers