Increasing insecurities among civilians and the rising illegal activities, such as planned crimes, thefts, smuggling, and human trafficking, have all led to a rise in the adoption of perimeter security systems, according to the analysts. Technological proliferation has led to the growth of smart cities and smart infrastructure. Owing to this, the implementation of security systems at commercial complexes, entertainment hubs, and public sites is on the rise. The integration of security systems with the internet and the latest mobile devices has made surveillance easier. The latest technology has also led to the introduction of infrared, microwave, radar, and seismic sensors.

Video surveillance shows fastest growth

The video surveillance systems segment is expected to register the fastest CAGR over the forecast period due to the large-scale investments in smart infrastructure projects by various nations. The global need to improve safety and security across many industries is considerably contributing to the market growth. In comparison to the preceding decade, the surveillance market has changed due to significant advances in cloud hosting and video surveillance software. The alarms & notification systems are expected to grow at a slow pace in the market over the forecast period. The maintenance & support systems are anticipated to witness the fastest growth over the next eight years. Perimeter security systems are expected to find major applications in the transportation end-use segment.

Smart cities driving the pace

The growth in terrorist threat and cross-border intrusions has forced governments to enact strict regulations regarding national safety, leading to market expansion. The fast-paced development of smart cities and smart infrastructure in Europe and the U.S. is one of the key factors driving the market. The governments increasingly favour installing various security systems in strategic sites. Technological development related to automation has accelerated the adoption of the latest methods, such as video analytics and aerial drones, to produce better results.

Key players

Some of the most active players in this market and mentioned in the research include, Axis Communications, Barrier1 Systems, Optex, Honeywell, Tyco, Puretech, Senstar, Delta Scientific, Rbtec Perimeter Systems, and Cias Elettronica.