The perimeter security market is anticipated to evolve $38459 million by 2026. The market is growing at 9.16% of CAGR during the forecasting years. The global perimeter security market was valued $ 17485 million in the year 2017. Initially, perimeter security was being used to protect defense and military infrastructure. However, the scope of the market has also broadened in residential as well as commercial sectors, which is increasing the demand of the market globally.
The increased spending in the security system is one of the important driver uplifting the growth of the perimeter security market across the world. The perimeter security market encompasses segments like barriers, solutions, industries, and services. In the service segment, risk management possesses the highest share, followed by system integration and consulting which is evolving at the highest CAGR of 7.8% in the coming years. However, the increased reliance on perimeter security is restraining the growth of the market globally.
Region wise, the global perimeter security market comprises of four key regions like North America, Asia Pacific, Europe, and rest of the world. North America perimeter security market is anticipated to top the chart by the end of the forecasting years. Prior the terrorist attack in the region, the government has doubled their securities by advancing the surveillance systems in high-security areas and government buildings. This has increased the demand for perimeter security market in the region. The Asia Pacific is the rapidly growing region during the forecasting years. Increased investments in the defense sector are one of the major factors that are increasing the growth of the perimeter security market in the region.
The major companies mentioned in the global perimeter security market are Axis Communications Ab, Honeywell International, Inc., Senstar, Cias, Fiber Sensys, Inc., Flir Systems, Inc., Advanced Perimeter Systems Limited, United Technologies Corporation, Lockheed Martin Corporation, Puretech Systems, RBTEC Perimeter Security Systems, Schneider Electric Se, Southwest Microwave, Inc., and Tyco Systems.