Press release
3D Virtual Fence Market Set to Grow at 21.0% CAGR, Hitting $10.76 Billion by 2028, Driven by Security Enhancements
3D Virtual Fence Market Report
As per the report, the 3d virtual fence market size has grown exponentially in recent years. It will grow from $4.16 billion in 2023 to $5.01 billion in 2024 at a compound annual growth rate (CAGR) of 20.6%. The 3d virtual fence market size is expected to see exponential growth in the next few years. It will grow to $10.76 billion in 2028 at a compound annual growth rate (CAGR) of 21.0%.
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Role Of 3D Virtual Fences In Mitigating Terrorism Risks And Enhancing Security
The increasing risk of terrorism is expected to propel the growth of the 3D virtual fence market going forward. Terrorism refers to violent crimes committed by individuals, groups, or nations classified as foreign terrorist organizations or countries. The 3D virtual fence detects potential breaches and suspicious activities. It helps prevent terrorist attacks by creating a virtual boundary around a specific area, such as a building or a border, and uses cameras, sensors, and other devices to monitor the site for any suspicious activity. For instance, in March 2022, according to the Institute for Economics and Peace (IEP), an Australia-based institute, the number of terrorist attacks globally increased by 17% from 4,458 in 2020 to 5,226 in 2021. Therefore, the increasing risk of terrorism is driving the growth of the 3D virtual fence market.
Advancements In 3D AI Technology Transforming The 3D Virtual Fence Market
Major companies operating in the 3D virtual fence market are developing innovative technologies, such as 3D AI technology, to increase their profitability in the market. 3D AI technology integrates artificial intelligence (AI) techniques and algorithms with three-dimensional (3D) data or environments. For instance, in October 2021, LIPS Corporation, a Taiwan-based technology company, introduced the LIP Safeguard 3D virtual fence based on 3D AI technology to detect and track potential threats in real-time, making it an advanced collision avoidance system. It is designed to work with robotic arms to prevent collisions and enhance safety measures in automated factories. Compared to the existing laser- or infrared-based technologies, it offers better coverage and is more affordable. LIP Safeguard's 3D Virtual Fence contributes to the growth of the 3D virtual fence market and protects citizens from terrorist attacks.
The 3d virtual fence market covered in this report is segmented -
1) By Type: 3D Virtual Cameras, 3D Video Motion Detection System
2) By Deployment: On-Premises, Cloud Based, Hybrid
3) By End-User: Logistics, Agriculture, Banking, Construction, Security
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Major companies operating in the 3d virtual fence market report are Schneider Electric SE, DXC Technology Company, Anixter International Inc., Avigilon Corporation, Genetec Inc., Bosch Security Systems Inc., March Networks Corporation, IndigoVision Group plc, Controp Precision Technologies Ltd., Senstar Corporation, Magal Security Systems Ltd., D-Fend Solutions, Optex Co. Ltd., SpotterRF, Robin Radar Systems, LIPS Corporation, Fiber SenSys Inc., Sensofusion Oy, G&A Surveillance, Huper Laboratories Co. Ltd., PureTech Systems, Rbtec Perimeter Security Systems, Squarehead Technology, AngryMole Technologies Ltd., ACSE GmbH
Contents of the report:
1. Executive Summary
2. 3D Virtual Fence Market Report Structure
3. 3D Virtual Fence Market Trends And Strategies
4. 3D Virtual Fence Market - Macro Economic Scenario
5. 3D Virtual Fence Market Size And Growth
…..
27. 3D Virtual Fence Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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