Securing Boundaries: Perimeter Intrusion Prevention System Trends

The Business Research Company recently released a comprehensive report on the Global Perimeter Intrusion Prevention System Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The perimeter intrusion prevention system market size has grown rapidly in recent years. It will grow from $13.37 billion in 2023 to $15.88 billion in 2024 at a compound annual growth rate (CAGR) of 18.6%. The growth in the historic period can be attributed to economic inequality, societal marginalization, insufficient law enforcement, lack of access to education and employment opportunities, and rising incidents of theft and vandalism.

The perimeter intrusion prevention system market size is expected to see rapid growth in the next few years. It will grow to $32.12 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to advancements in sensor technologies, increased adoption of cloud-based solutions, rising concerns over cybersecurity threats, expansion of critical infrastructure projects, and growing demand for integrated security solutions in smart cities. Major trends in the forecast period include adoption of AI and machine learning, growing integration with IoT devices, rising demand for cloud-based solutions, the emergence of 5G technology, and a shift towards proactive security measures.

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Market Drivers and Trends:

The surge in criminal activities is expected to propel the growth of the perimeter intrusion prevention system market going forward. Criminal activities refer to actions or behaviors that contravene established laws, regulations, or societal standards, covering a broad spectrum of illegal behaviors such as theft, fraud, and other offenses. The increase in criminal activities is due to economic inequality, lack of access to education and employment opportunities, social marginalization, and inadequate law enforcement. Perimeter intrusion prevention systems are deployed to deter and detect unauthorized access to secure areas, serving as a crucial defense against terrorist infiltration and attacks. For instance, in October 2023, according to the Office for National Statistics, a UK-based non-ministerial department, UK police recorded robberies rose by 11%, reaching 77,337 incidents, compared to 69,432 incidents in 2022. Therefore, the surge in criminal activities is driving the growth of the perimeter intrusion prevention system market.

Major companies operating in the perimeter intrusion prevention system market are developing advanced solutions that can detect known and unknown (zero-day) attacks across operational technology (OT) to enhance their profitability in the industry. A solution for OT environments capable of detecting known and unknown (zero-day) attacks employs advanced anomaly detection algorithms and real-time threat intelligence integration for comprehensive threat identification and mitigation. For instance, in January 2022, Honeywell International Inc., a US-based technology company, partnered with Acalvio Technologies, a US-based provider of cyber deception technology, to launch Honeywell Threat Defense Platform (HTDP), a new solution designed to detect known and unknown (zero-day) attacks across operational technology (OT) environments in commercial buildings. The HTDP employs sophisticated, active defense strategies, such as autonomous deception tactics, to outmaneuver attackers and offer precise threat detection.

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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., 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 Prevention System Market 2024 Key Insights:

• The perimeter intrusion prevention system market size is expected to see rapid growth in the next few years. It will grow to $32.12 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%.
• Rising Criminal Activity Drives Growth Of Perimeter Intrusion Prevention System Market
• Advanced Solutions For Perimeter Intrusion Prevention In Operational Technology Environments
• North America was the largest region in the perimeter intrusion prevention system market in 2023

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