VANCOUVER, Washington, July 30, 2015 /PRNewswire/ --
According to a new market research report, "Perimeter Security Market by System (IDS, Video Surveillance, Alarms & Notification, Access Control), Service (System Integration & Consulting, Risk Assessment, Managed Services, Maintenance & Support), Vertical, Region - Global Forecast to 2020", published by MarketsandMarkets, Perimeter Security Market to grow from USD 14,010.3 Million in 2015 to USD 20,250.6 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period.
Browse 70 market data Tables and 43 Figures spread through 137 Pages and in-depth TOC on "Perimeter Security Market"
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The market report segments the global market on the basis of systems, services, verticals, and regions along with providing an in-depth analysis and market size estimations. One of the segments, intrusion detection system, is further segmented by technology into microwave sensors, radar sensors, fiber optic sensors, and infrared sensors.
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Perimeter security refers to an organization's capability to monitor its premises and protect its premises from any intrusion. The rising intrusion rate has caused organizations to look for solutions that are not only able to manage these intrusions in real time but also inform the organization of a particular intrusion enabling them to take actions to mitigate these intrusions.
One of the major factors driving the rapid growth of the perimeter security market is the rising number of perimeter intrusions. The rising number of perimeter intrusions has increased organizations' spending during the last 5 years, which has caused the market to grow at a healthy rate. The losses due to perimeter intrusions are significant and can range from damage to property to loss of critical information, which can prove to be a costly affair for any organization.
The market has seen increase in demand for maintenance and support services by end users to maximize the revenue from its already deployed infrastructure. The maintenance and support services are expected to grow at a high growth rate during the forecast period while system integration and consulting is expected to have the highest market size during the forecast period. The major vendors in the perimeter security market are Axis Communications, Anixter, United Technologies, Southwest Microwave, Senstar, and others. In addition to these players, companies such as RBtec Perimeter Security Systems, CIAS, and Fiber SenSys also have a strong offering in the perimeter security market.
Intrusion detection systems are also segmented by deployment into fence mounted, buried, and open area deployment. Furthermore, the report identifies the drivers, restraints, and opportunities prevalent in the market along with premium insights for the market. The report has also been segmented by region into North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. A detailed analysis of the key industry players has been done to provide insights into their products and services, strategies, and recent developments associated with the perimeter security market.
MarketsandMarkets forecasts the global Perimeter Security Market to grow from USD 14,010.3 Million in 2015 to USD 20,250.6 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. In the current scenario, North America is expected to be the largest market on the basis of spending and adoption of the perimeter security solutions.
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