Market Overview
The global Perimeter Protection Market is projected to account for USD 276.46 Billion by the end of 2027 and is further estimated to generate an impressive CAGR of 13.46% during the review period.
The global market is driving the market growth due to the growth of terrorism and reduced manpower reliance across the world. Moreover, the increased government focus on perimeter protection in different parts of the world fuels Perimeter Protection Market Growth during the research period. In addition, the growing number of illegal intrusions and the growing need to secure sensitive data among the industries are projected to boost upmarket growth in upcoming years. Apart from that, one of the major growth driving factors is the ease of security blind spots elimination.
Perimeter protection is essential worldwide because of the growing digitalization, increased sophistication in volatile geopolitics, and cross-border infiltration. However, the global market might experience market restraints due to the high initial deployment costs.
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Market segmentation
The Perimeter Protection Market Segments includes two important classifications such as components and verticals.
Based on the component segment, the worldwide market has been segregated into systems and services. Among all, the system segment is estimated to hold the largest and fastest-growing market in the review period due to the growing engagement of systems to protect residential buildings and governments, commercial, and industrial corporations. However, the system segment is further classified into sub-markets such as Perimeter Intrusion Detection Systems, Access Control Systems, Video Surveillance Systems, Alarm and Notification Systems, and others (intruder discouragement measures and mobile detection platforms). On the other hand, the services segment is classified into two sub-segments: Managed Services and Professional Services.
In terms of the vertical segment, the worldwide market has been segregated into commercial, infrastructure, industrial, military and defense, government, religious buildings, residential, and educational buildings. Among all, the commercial segment is considered the largest and the fastest-growing market during the forecast period.
Regional analysis
The Perimeter Protection Market Research highlights that different regions such as Asia Pacific, North America, Europe, and the rest of the world contribute the global market.
As per the global market report, North America is known to be the largest market due to highly digitalized industry, an illegal immigration problem, and the rise in terrorism directed against the US.
Moreover, the European regional market has witnessed growth in the research period due to the rise in surveillance for public safety and the rising need to combat terrorism and ensure industrial and commercial enterprise protection. Apart from that, the Asia-PacificPerimeter Protection Industry is considered the fastest-growing regional market due to the increasingly digitalizing of commercial and industrial corporations. In addition, the prevalence of urban crime in Sub-Saharan Africa and South America and increasing terrorism concerns in the Middle East are the important actors to grow the regional market growth in the review period.
Industry News
In June 2020, the prominent market leader Honeywell announced the Honeywell Forge Cybersecurity Suite launch. This launch aims to provide better cybersecurity risk monitoring, increased asset discovery capabilities, and improved industrial-grade remote access.
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