ICT-IOT

Perimeter Security Market is Expected to Reach USD 575.68 Billion by 2030

Mar 2024

ICT-IOT

As per the report published by Kings Research, the global Perimeter Security Market was valued at USD 209.20 billion in 2022 and is projected to reach USD 575.68 billion by 2030, growing at a CAGR of 11.78% from 2023 to 2030.

The perimeter security market is growing rapidly with extensive use in government and private safety locks which require a high level of vigilance. Apart from this, illegal activities such as cross-border smuggling of goods, human trafficking, and exchange of armaments without official documents are some of the other cases where it is crucial to deploy stringent security measures. The growing population growing shopping trends and the presence of large entertainment centers in various places have led to the widespread application of perimeter security systems.

Key Insights

  • Based on components, the system segment is growing at a CAGR of 12.41% over the forecast period
  • Based on vertical, the military segment dominated with a market share of USD 58.34 billion in 2022
  • On the basis of region, North accounted for the largest market value of USD 75.12 billion in 2022

Matrix Launched the Perimeter Security to Prevent Intrusions

May 2022: Matrix released its Perimeter Security solution to prevent intrusions by detecting them in real-time. The system is designed to work with Matrix network cameras as well as accessories from other manufacturers, such as motion sensors, electric fences, fire alarms, security alarms, and others.

BIG Language Solutions Launched its LanguageVault Security Platform for Complete Security

June 2021: BIG Language Solutions launched its security platform, LanguageVault. The LanguageVault combines proprietary technology and innovative processes to ensure complete security during the translation process and provides customers with a single, secure, and unified platform to manage all of their language needs.

Rising Number of Cross Border Terrorist Activities Drives Market Growth 

The increasing number of cross-border terrorist activities owing to the geographical conditions, political climate, and socio-economic factors, it is generally recognized that such activities pose a significant security threat in many regions of the world. Cross-border counter-terrorism initiatives involve the sharing of intelligence and information on terrorist activity and the deployment of joint counter-terrorism units.

The use of perimeter security technology plays a prominent role in responding to the challenge of cross-border terrorism. Advanced surveillance technologies such as drones, satellite imagery, and biometric identification systems can be used at border crossings to detect suspicious activity and identify known or suspected terrorists.

For instance, International organizations such as the United Nations, Interpol, and regional security alliances such as the European Union, the African Union, and NATO also critical roles in the fight against cross-border terrorism, creating frameworks and protocols for cooperation and coordination between countries. The use of perimeter security operations can significantly improve the capabilities of surveillance systems by automating the real-time analysis of large volumes of data, driving market growth.

Adoption of AI for Perimeter Security to Augment Market Growth

Artificial intelligence can also help cyber security in perimeter security systems. Perimeter security systems increasingly rely on networked devices such as cameras, sensors, and access control systems. These devices can be vulnerable to cyber-attacks that can threaten the security of the region. Artificial intelligence can be used to analyze network traffic data and detect potential security breaches, and machine learning algorithms can identify patterns of behavior that may indicate malicious activity. Furthermore, AI has the potential to significantly improve edge security by automating and improving security data analysis and detecting and responding to security breaches in real-time which fosters market growth.

North America is Growing Rapidly with a Market Share of 35.91%

The growing focus on combating cross-border terrorism to address the root causes of terrorism, such as poverty, political instability, and social and economic inequality is propelling market growth. With the rise of cybercrimes and physical threats, it is critical for businesses and organizations to adopt the latest developments in perimeter security.

Technology based on artificial intelligence is also gaining popularity in the field of perimeter security. Artificial intelligence systems identify and analyze data, identify information security risks, and help improve response time. Business owners and security personnel can access real-time monitoring sources on their smartphones or computers and take the necessary steps to contain the threat. In addition, remote monitoring can ensure 24/7 monitoring of an area, which makes it a valuable asset in perimeter security. 

Asia Pacific is Projected to have the Fastest Growth with a Forecasted CAGR of 14.26%

The perimeter security demand is growing rapidly in the region owing to the increasing adoption of advanced technologies such as artificial intelligence and remote monitoring systems. These technologies make it possible to control larger areas more effectively and detect potential threats at an earlier stage, increasing the effectiveness of border security systems. 

Growing demand for perimeter security systems for military bases and other defense establishments is driving the growth of the market. In addition, the increased adoption of artificial intelligence and remote monitoring technologies increases the demand for perimeter security solutions across various end-user industries in the region. The growing importance of securing critical infrastructure such as airports, power plants, and government buildings increases the demand for perimeter security solutions in these countries which propels the market growth.

Key Players in the Market are Focusing on Launching New Products to Expand the Product Portfolio

The global perimeter security market growth is accelerated by the presence of key players such as Axis Communications AB, BIG Language Solutions LLC, Bosch Sicherheitssysteme GmbH, Dahua Technology Co., Ltd, Help AG, Hewlett Packard Enterprise Development LP, Honeywell International Inc, Matrix Comsec, OPTEX CO., LTD., RBtec Perimeter Security Systems, Senstar Corporation. Key players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. 

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