The Perimeter Security market is expected to witness a significant growth rate of 7.3% over the forecasted period 2016-2022. Rising demand for security against terrorist attack coupled with favorable government regulations for security are the key forces driving the global perimeter security market. Along with it, rising need to reduce manpower costs have also played a vital role in the increasing demand for perimeter security solutions. Availability and accuracy offered by these technologically upgraded solutions are widely deployed across industries for the maintenance of critical sites. Increasing investments for infrastructure development have widened the scope for the growth of the perimeter security market. For the period of 2014-2025, around $78 trillion is projected to be spent on infrastructure development at global level. As per American Society of Civil Engineers, the U.S. is required to invest additionally around $3.6 trillion by the year 2020 in order to upgrade country’s infrastructure to acceptable standards. In current scenario, the U.S. spends around 2.6% of the country’s GDP on infrastructure in comparison to 8.5% in case of China and 3.8% for the global average. Factors such as anti-government protests, illegal immigration, increasing criminal activities and constant risk of terrorism have led towards the rising need for advanced perimeter security solutions.
Economic slowdown has proved to be the key roadblock in the growth of the global market. Declining revenues of major industries, organizations are avoiding incurring additional costs for perimeter security solutions. False alarm rates in perimeter security solutions have also acted as a challenge in the growth of the perimeter security market. Growing usage of video analytics as well as rising need for integrated systems are expected to create growth opportunities for the global perimeter security market.
The global perimeter security market can be segmented geographically into Asia Pacific, Europe, North America, and RoW. In 2016, North America dominates the global perimeter security market and is projected to continue its dominance over the projected period. Growing concerns for terrorist attack and risk management has boosted the regional market in terms of increased investment. In 2014, the total appropriation for the Bureau of Prisons jurisdiction reached to approx. $6.8 billion from $6.3 billion in 2010. After the incidence of 9/11 terrorist attack, the U.S. government strengthened its security measures by adopting initiatives in terms of implementation of enhanced surveillance systems in high security areas as well as in government buildings. Europe is also amongst one of the major regions in terms of revenue generation and adoption of perimeter technology solutions. The growth of the European region is backed by the significant investment on perimeter security technology by the regional countries. UK spends approx. 22% of the overall security technology expenditure on perimeter security technology.
Furthermore, Asia Pacific is projected to witness the highest growth rate during the forecasted period. China and India are the major contributors in the growth of the regional market. Increasing investments in infrastructure by India and strengthening nation’s economy has led towards the increasing investment within the security sector specifically perimeter security in most of the key sectors namely commercial sector, banking, business parks etc. By 2017, India is projected to invest around $2.7 trillion in the infrastructure development.
The report includes detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, patent analysis, strategic recommendations, key company analysis, gap analysis, key findings, market estimations, market insights, analyst insights and predictive analysis of the market.
Key players of Perimeter Security market include Honeywell International Inc., Axis Communication AB, Fiber Senys Inc., Advanced Perimeter System Limited, United Technology Corporation, Lockheed Martin Corp. and Puretech Systems. Merger and acquisition, product launches, agreement & partnerships are the key strategies adopted by the market players to strengthen their market share in the global perimeter security market. On Feb. 2016, Honeywell International Inc. entered into an agreement to acquire Xtralis for around $480 million. Xtralis is one of the leading providers of advanced perimeter security technologies, aspirating smoke detection and video analytics at global level. This acquisition is expected to strengthen the market share of Honeywell International Inc. in the global perimeter security market.
• Perimeter Security Market by End User Industries
o Critical infrastructure
o Correctional facilities
o Military & defense
• Perimeter Security Market by Service
o Managed Services
o System integration & Consulting
o Maintenance and Support
o Risk assessment & Analytics
• Perimeter Security Market by System
o Access control systems
o Video surveillance systems
o Intrusion detection systems
o Alarms & notification systems
OMR report covers:
• Comprehensive research methodology of global perimeter security market
• In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global perimeter security market
• Insights about market determinants which are stimulating the global perimeter security market
• Detailed and extensive market segments with regional distribution of researched revenues
• Extensive profiles and recent developments of market players