Global Perimeter Security Market Expected to Experience Large Growth
According to research done by Grand View Research, the global perimeter security market is projected to reach USD 29.6 billion by 2025.
- By Kaitlyn DeHaven
- Jun 13, 2019
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 says 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.
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 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.
According to the report, the key players in the market include: Ameristar Perimeter Security; Anixter International Inc.; Axis Communications AB; Barrier1 Systems, Inc.; Honeywell International, Inc.; Tyco International Ltd.; Puretech Systems; Senstar Corporation; Delta Scientific Corporation; RBtec Perimeter Security Systems; and Cias Elettronica Srl.
Kaitlyn DeHaven is the Associate Content Editor for the Infrastructure Solutions Group at 1105 Media.