SecurityWorldMarket

12/05/2022

Perimeter security market set to reach $132.4 billion by 2030

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The increasing insecurities among civilians and the rising illegal activities, such as planned crimes, thefts, smuggling, and human trafficking, have led to a rise in the adoption of perimeter security systems. Technological proliferation has led to the growth of smart cities and smart infrastructure.  New research from Grand View Research predicts that this market is set to reach USD 132.4 billion by 2030, registering a CAGR of 9.4% over the forecast period.

According to the research, 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.

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.

In summary, the key takeaways from the report  suggest that the system integration & consulting services segment dominated the market in 2021 and is estimated to generate high revenue by 2030; system integration & consulting services help businesses create opportunities to drive high performance and accelerate business innovation - thereby creating growth opportunities for the segment; the video surveillance systems segment is anticipated to witness the fastest growth rate over the forecast period - increasing concerns regarding public security & safety, growing demand for spy cameras, and rising adoption of IP cameras are driving the video surveillance systems segment; the military & defence end-use segment accounted for the largest share of the global revenue in 2021; and the Asia Pacific regional market is expected to witness the fastest CAGR during the forecast period due to the increasing infrastructure developments.

Some of the key players mentioned in the research report include, Axis Communications AB, Barrier1 Systems, Inc., Optex, Inc., Honeywell International Inc., Tyco International Ltd., Puretech Systems, Senstar Corp., Delta Scientific Corp., Rbtec Perimeter Security Systems and Cias Elettronica Srl.


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