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2024 Worldwide Market Overview of Perimeter Intrusion Detection Systems
perimeter intrusion detection system market
According to The Business Research Company's, The perimeter intrusion detection system market size has grown rapidly in recent years. It will grow from $16.39 billion in 2023 to $19.36 billion in 2024 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to increasing security concerns, urbanization and population growth, threat landscape evolution, cost reduction initiatives, industry standards and best practices.
The perimeter intrusion detection system market size is expected to see rapid growth in the next few years. It will grow to $38.03 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%. The growth in the forecast period can be attributed to increasing security concerns, regulatory compliance, urbanization and infrastructure development, and integration with smart city initiatives. Major trends in the forecast period include the emergence of smart sensors, focus on IoT integration, the shift towards cloud-based solutions, growing emphasis on cybersecurity, and rising demand for wireless systems.
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Market Drivers and Trends:
The increasing threat of terrorism is expected to propel the growth of the perimeter intrusion detection system market going forward. Terrorism is the systematic use of violence or intimidation to achieve political, religious, or ideological goals, often targeting civilians or non-combatants. The rise of terrorism is due to complex socio-political factors, including grievances, ideology, and geopolitical tensions. Perimeter intrusion detection systems are crucial in counterterrorism efforts, enhancing security by swiftly detecting unauthorized access attempts along boundaries and preventing potential threats before they escalate. For instance, according to the Global Terrorism Index by the Institute for Economics and Peace, an Australia-based think tank, terrorist attacks grew more lethal in 2022, resulting in an average of 1.7 fatalities per attack, compared to 1.3 deaths per attack in 2021. Therefore, the increase in the threat of terrorism is driving the growth of the perimeter intrusion detection system market.
Major companies operating in the perimeter intrusion detection system market are developing advanced solutions, such as ZoneSentry, to enhance their competitive advantage in the industry. ZoneSentry is a cutting-edge perimeter intrusion detection system (PIDS) designed for smaller sites, leveraging advanced fiber optic sensing technology. This innovative system provides efficient and cost-effective protection for properties and assets with smaller perimeters, covering distances of up to 8 kilometers. For instance, in April 2022, Bandweaver Technologies, a UK-based electronics company, launched ZoneSentry. This system operates on a zonal basis, employing fiber-optic distributed acoustic sensing (DAS) technology. By installing a single fiber optic sensing cable along the external perimeter or on critical assets, ZoneSentry can swiftly detect and alert to any vibrations indicative of intrusion events, facilitating prompt intervention to prevent potential damage or theft.
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Major Key Players of the Market:
Honeywell International Inc., Zhejiang Dahua Technology Co. Ltd., Johnson Controls International plc, Hangzhou Hikvision Digital Technology Co. Ltd., Arthur J. Gallagher & Co. (AJG), SICK AG, FLIR Systems Inc., Axis Communications AB, Anixter International Inc., Optex Co. Ltd., RISCO Group S.A., Texecom Ltd., Southwest Microwave Inc., Bosch Security Systems GmbH, Senstar Technologies Corporation, Frontline Security Solutions Ltd., Zaun Ltd., SightLogix Inc., Future Fibre Technologies Pty Ltd, Fiber SenSys Inc., Detekion Security Systems Inc., Advanced Perimeter Systems Ltd., PureTech Systems Inc., RBtec Perimeter Security Systems Ltd., CIAS Elettronica Srl
Perimeter Intrusion Detection System Market 2024 Key Insights:
• The perimeter intrusion detection system market size is expected to see rapid growth in the next few years. It will grow to $38.03 billion in 2028 at a compound annual growth rate (CAGR) of 18.4%.
• Rising Threat of Terrorism Fuels Growth In Perimeter Intrusion Detection System Market
• Innovations In Perimeter Intrusion Prevention Through Fiber Optic Sensing Technology
• North America was the largest region in the perimeter intrusion detection system market in 2023
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