Marketsandmarkets forecasts the global perimeter security market to grow from USD 14,010.3 Million in 2015 to USD 20,250.6 Million by 2020, at a compound annual growth rate (CAGR) of 7.6% during the forecast period. In the current scenario, North America is expected to be the largest market on the basis of spending and adoption of the perimeter security solutions.
One of the major factors driving the rapid growth of the perimeter security market is the rising number of perimeter intrusions. Analysts at Marketsandmarkets have found that the rising number of perimeter intrusions has increased organisations’ spending during the last 5 years, which has caused the market to grow at a healthy rate. The losses due to perimeter intrusions are significant and can range from damage to property to loss of critical information, which can prove to be a costly affair for any organisation.
The market has seen increase in demand for maintenance and support services by end users to maximize the revenue from its already deployed infrastructure. The maintenance and support services are expected to grow at a high growth rate during the forecast period while system integration and consulting is expected to have the highest market size during the forecast period. The major vendors in the perimeter security market are Axis Communications, Anixter, United Technologies, Southwest Microwave, and Senstar. In addition to these players, companies such as RBtec Perimeter Security Systems, CIAS, and Fiber Sensys also have a strong offering in the perimeter security market.
Intrusion Detection Systems are also segmented by deployment into fence mounted, buried, and open area deployment. Furthermore, the report identifies the drivers, restraints, and opportunities prevalent in the market along with premium insights for the market. The report has also been segmented by region into North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. A detailed analysis of the key industry players has been done to provide insights into their products and services, strategies, and recent developments associated with the perimeter security market.