Global Perimeter Security Market 2024 : SWOT Analysis Of Key Driving Factors For Growing CAGR Value | Honeywell International Inc., Axis Communications AB, Zhejiang Dahua Technology Co. Ltd., Bosch Security Systems, Inc

"The perimeter security market size has grown strongly in recent years. It will grow from $68 billion in 2023 to $74.19 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to security threats and incidents, terrorism and global events, urbanization and infrastructure development, risk management evolution, cybersecurity concerns.

The perimeter security market size is expected to see strong growth in the next few years. It will grow to $105.95 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing demand for biometrics, cyber-physical security integration, cloud-based solutions, demand for scalable solutions, environmental sensors. Major trends in the forecast period include interoperability and integration, predictive maintenance, energy efficiency and sustainability, mobile integration and control, environmental sensors and anomaly detection.

Market Overview -
Perimeter security is a multifunction system already present in the device that provides built-in perimeter protection by monitoring the area and potential threats. The perimeter security act as the first line of protection for a network against numerous threats that could destroy connected systems.

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Rising Threat Of Terrorism And Cross-Border Intrusions Fuels Perimeter Security Market
The increasing threat of terrorism and cross-border intrusions is expected to propel the growth of the perimeter security market going forward. Terrorism is the improper use of force and intimidation, particularly against civilians, to further political objectives. Cross-border intrusions refer to the movement of a unit, force, or military asset inside another country's designated operational area, territorial seas, or territory airspace for surveillance or information gathering. The threat of terrorism and cross-border intrusions is rising to gain power and fulfill the demands of various countries and groups of individuals. Perimeter security is the first line of defense in securing critical assets, information, and people by utilizing cutting-edge technology. For instance, in 2023, according to the Global Terrorism Index by the Institute for Economics & Peace, an Australia-based think tank, terrorist attacks became more deadly in 2022, killing on average 1.7 people per attack in 2022 compared to 1.3 deaths per attack in 2021. Therefore, the increase in the threat of terrorism and cross-border intrusions is expected to drive the growth of the perimeter security market.

Competitive Landscape -
Major companies operating in the perimeter security market report are Honeywell International Inc., Axis Communications AB, Zhejiang Dahua Technology Co. Ltd., Bosch Security Systems, Inc., United Technologies Corporation, Southwest Microwave Inc., Johnson Controls International plc, Rbtec Perimeter Security Systems, Fiber Sensys Inc., Senstar Corporation, Puretech Systems, Atrity Info Solutions Private Limited, Hangzhou Hikvision Digital Technology Co. Ltd., Sicurit Perimeter Protection Systems Partner, Advanced Perimeter Systems Limited, Avigilon Corporation, Checkpoint Systems Inc., CIAS Elettronica Srl, FLIR Systems Inc., F-Secure Corporation, Genetec Inc., Hanwha Techwin Co. Ltd., Hikvision Digital Technology Co. Ltd., Milestone Systems A/S, Optex Co. Ltd., Panasonic Corporation, Pelco Inc., RISCO Group Ltd., SightLogix Inc., Texecom Ltd., Vanderbilt Industries LLC, Zaun Ltd.

Technological Advancements Drive Perimeter Security Market
Technological advancements are a key trend gaining popularity in the perimeter security market. Major companies operating in the perimeter security market are focused on developing new technological solutions, such as integrated off-grid security solutions, to provide a better security system alternative. An integrated off-grid monitoring system is created by integrating solar power technology, 4G network transmission technology, and video surveillance, including AI features. For instance, in January 2022, Zhejiang Dahua Technology Co., Ltd., a Chinese-based video surveillance solutions company, launched an integrated off-grid security solution. This technology attempts to deliver a lightweight monitoring experience for outdoor locations with electricity and network limitations by using 4G network transmission technologies and solar power in an intelligent surveillance system.

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Key Segments -
The perimeter security market covered in this report is segmented -
1) By Component: System, Service
2) By End-Use: Transportation, Commercial, Government, Military, Defense, Other End-Users

Subsegment : Perimeter Intrusion Detection Systems, Video Surveillance Systems, Access Control Systems, Alarms and Notifications Systems, Other Systems, System Integration, Consulting, Risk Analysis and Analysis, Managed Security Services, Maintenance and Support

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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