The global perimeter security market is expected to grow rapidly within the next few years, according to a report done by Grand View Research. The market is projected to reach USD 29.6 billion by 2025, a 67.23% increase from the USD 17.7 billion it was valued at in 2018.
The report states that the increase in demand for perimeter security-related products correlates heavily with the rising rate of theft, burglary and terrorism. Some of the security solutions involved in the growing sector are electronic fencing with sensors and infrared and integrated fiber-optic intrusion detection systems. It was not made clear if development or new innovations would accelerate this market projection or if new technologies would shift this into another direction or would impact these projections in any significant way.
Having worked and installed many of these systems around the world i can attest to its effectiveness when properly deployed. Nuclear plants, national agencies along with several countries bordering a large influx of migrants have been the initial and traditional users using these technologies, primarily as awareness tools.
Much of the anticipated growth I suspect will be to update or upgrade these legacy systems with newer technologies. It has historically only been available to governments and large institutional agencies due to it's prohibitive costs. In consideration to the impact of border controls and the advent of a stable technology it would lend though that these large systems projects are being revisited.
The video surveillance system segment held the largest market share in 2018 and was valued at USD 6.2 billion. It is expected that this will continue to be the fastest growing segment of the market. In addition, government sites and offices are expected to experience a large amount of growth within the next few years, as safeguarding facilities and assets is becoming more necessary.
North America is projected to hold the largest share of the market. In 2018, North America acquired a revenue of USD 5.6 billion from the perimeter security market.
Asia Pacific’s perimeter security market is expected to grow at the highest CAGR. One of the main factors driving this growth is the demand for perimeter security solutions in growing economies, for example, India, China, Australia, and Japan.
Having had a professional and working relationships with a few of the key players identified in this report, namely, Senstar Corporation, Anixter International Inc, Axis Communications AB, I feel a few key players may have been omitted or not valuated in the article!
The US military and specifically USAF having been instrumental in the development of many of these technologies may be driving some of the projected expenditures domestically on a governmental and institutional level