The perimeter security market is projected to from USD 61.3 billion in 2020 to USD 96.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period. The stringent government regulations and industry standards to curb terrorism, cross border intrusions, and protection of critical infrastructures to drive the market growth.
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By component, the system segment to register the highest growth rate during the forecast period
The systems segment of the perimeter security market is broadly categorized into perimeter intrusion and detection systems, video surveillance system, access control, alarm and notification systems, and other systems. It involves the use of a wide variety of systems to enhance security measures. These systems investigate and prevent crime in public places, such as airports, shopping malls, and banks. The increasing concern for safety and the rising incidents of terrorism are expected to drive the demand for perimeter security systems, globally.
Based on vertical, the commercial segment to grow at the highest CAGR during the forecast Period
In the commercial segment, various commercial areas, such as IT and telecom, warehouse, retail, BFSI, media and entertainment, lodging, hospitality, and healthcare, are considered. The commercial vertical is expected to be the largest vertical in the perimeter security market. The rising demand for perimeter security systems in the retail and banking sectors is driving the growth of this market. Furthermore, the implementation of intelligent perimeter security solutions enhances the security in office buildings and healthcare industries.
Major vendors covered in the market report include Honeywell (US), Dahua Technology (China), Bosch Security Systems (Germany), Hikvision (China), Axis Communications (Sweden), Pelco (US), Thales Group (France), Johnson Controls (US), Fiber Sensys (US), Panasonic Corporation (Japan), United Technologies Corporation (US), Gallagher (New Zealand), Avigilon (Canada), Flir Systems (US), Senstar (Canada), Ingersoll Rand (US), Infinova (US), Southwest Microwave (US), Rbtec Perimeter Security Systems (US), Sorhea (France), Puretech Systems (US), Advanced Perimeter Systems (UK), Cias Elettronica (Italy), Sightlogix (US), and Nortek Security & Control (US).
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These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions to expand their presence in the Perimeter security market. Partnerships, agreements and collaborations, and new product launches have been the most adopted strategies by the major players from 2018 to 2020 to innovate their offerings and broaden their customer base.
Hikvision is a publicly held company founded in 2001 and headquartered in Hangzhou, China. The company is a video-centered intelligent IoT solution and big data services provider. It offers AI cloud products and solutions for intelligent transportation. Moreover, it has integrated videos with multi-dimensional perception technologies and created a fused domain product package comprising intelligent traffic cameras and intelligent road terminals. It has established cross-regional, cross-departmental, and cross-level video image information exchange, integrated sharing, and scheduling mechanisms. It also offers visualized government management support services for public security, transportation, railway, urban management, fire control, environment protection, forestry, safety supervision, finance, food and medicine, and other departments under the premise of ensured safety and controllability. Hikvision’s AI open platform is a complete algorithm-customized service platform for industry users as well as ecological partners to meet the demands of scenario-based visual perception applications in various industries. The company offers a cloud visualized management platform that provides enterprise-level Software-as-a-Service (SaaS) services to sub-industries and helps enterprises enhance visualization, standardization, and intelligent management capabilities
Dahua Technology was founded in 2001 and is headquartered in Hangzhou, China. The company has a significant market presence in China. It is a leading provider of video surveillance products, systems, and services. It delivers high-quality products with advanced technologies. Image processing technology, embedded technology, intelligent technology, pre-treatment technology, cloud storage technology, and network technology are some of the technologies in which the company has expertise. In the video analytics, the company offers Premium IVS, Advanced IVS, and Analytics+. Premium IVS offers basic data analytics and is used for intrusion detection, finding missing objects, and motion detection. Advanced IVS is a mid-level analytics solution that offers applications, such as people counting, facial detection, object tracking, and heat mapping. Analytics+ is an in-depth analytics solution that uses an advance technologies and offers facial recognition, line crossing, and perimeter protection. It caters to industry verticals, including smart cities, transportation, smart buildings, finance, energy, industrial production, education and health, and communications. The company also partnered with many well-known companies, such as Sony Corporation (Japan), OmniVision Technologies, Inc. (US), and Texas Instruments, Inc. (US), to further strengthen its market position. It operates through 32 domestic branches in China and other overseas regional branch offices in North America, Europe, APAC, and Africa.
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