The global perimeter security market size is expected to reach USD 29.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.7% over the forecast period. Increasing insecurities among civilians and rising illegal activities, such as planned crimes, thefts, smuggling, and human trafficking, have resulted in a rise in the adoption of perimeter security systems.
Technological
proliferations have led to the growth of smart cities and infrastructure. As a
result, implementation of security systems at commercial complexes,
entertainment hubs, and public sites is on the rise. Integration of these
safety systems with internet and the latest mobile devices has made
surveillance easier.
Perimeter
security systems are used to detect intrusion to any of the guarded facility
and later alert the guards in order to take the subsequent steps. They ensure
the safeguarding of the privately owned lands or industrial facilities and are
also widely used in security systems and alarms, such as intruder alarms and
video surveillance systems.
These
systems can protect not only the insides of business or industrial premises but
also the articles and objects of value located within the guarded area to
ensure the protection against vandalism and burglary. They are widely used in
facilities with large ground areas, such as logistical centers and business
centers. Moreover, they find their application in industrial enterprises and
factories as they have significant property assets.
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Further key
findings from the study suggest:
- The system
integration and consulting service segment dominated the market in 2018
and is estimated to generate a revenue of USD 3.2 billion by 2025. These
services help businesses create opportunities to drive high performance
and accelerate business innovation
- The video
surveillance system segment is anticipated to witness the fastest growth
and expand at a CAGR of 8.7% over the forecast period owing to growing
concerns over public safety, surging demand for spy cameras, and
increasing adoption of IP cameras
- Based on the
end use, the military and defense segment captured a major market share in
terms of revenue and is expected to reach USD 7.9 billion by 2025
- The market in
Asia Pacific is projected to witness substantial growth over the forecast
period owing to increasing infrastructure developments. It is expected to
reach USD 8.8 billion by 2025
- Key players
including Anixter International Inc.; Axis Communications AB; Honeywell
International, Inc.; RBtec Perimeter Security Systems; FLIR Systems, Inc.;
Puretech Systems; Senstar Corporation; and Tyco International Ltd.
dominate the market.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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