by Shane Henson — January 15, 2014—Global market research and consulting company MarketsandMarkets recently announced the release of a detailed report covering the growing perimeter security market. It identifies drivers and restraints for this market, with insights into trends, opportunities, and challenges.
The report, Perimeter Security Market [by System (Intrusion Detection Sensor, Video Surveillance, Communication/Alarm and Notification, Access Control System), by Deployment (Fence Mounted, Buried, Open Area)]—Worldwide Market Forecasts and Analysis (2013-2018), defines and segments the global perimeter security market into various subsegments, with in-depth analysis and forecast of revenues.
MarketsandMarkets forecasts the global perimeter security market to grow from $11.6 billion in 2013 to $17.7 billion in 2018, at a compound annual growth rate of 8.8 percent, from 2013 to 2018. The North American region is expected to have the largest market share, which will be succeeded by Asia-Pacific, in 2018.
Due to an increase in the laws and regulations, high-technological advancements, and also the increasing instances of threats, an increasing trend in implementation of perimeter security solutions in the emerging BRIC countries (Brazil, Russia, India and China) has been noted, according to the report.
According to the report, the major forces driving this market are increasing demand due to threats, government regulations, high-tech advancements and reduction of manpower cost. The significance of the perimeter security has increased, as the world is not becoming any safer to live. Any attack/ mishap at critical infrastructures, or any other building/ public places can lead to great economic and human losses.
MarketsandMarkets has segmented the perimeter security market by type of technologies and systems: intrusion detection sensor systems, video surveillance systems, communication, access controls and others; by type of services: system integration and consulting, risk assessment and analysis, managed services, and maintenance and support; by verticals: defense and government, transportation facilities, critical infrastructure, commercial facilities, sensitive areas, and others; and by regions: North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
The intrusion detection sensor systems have been further segmented on the basis of technologies: microwave sensors, radar sensors, fiber-optic sensors, infrared sensors, and others; and type of deployment: fence mounted, buried, and open area.
