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It can be assumed that the tech-
nology's improved capacity in
combination with a favourable cost
development on the products are
strong contributory reasons why
the perimeter security sub-sector
has had a steady and high growth
rate in recent years. But how is it
then with the size of the market
and the rate of growth?
Total turnover: $6570 billion
According to a new report by
Marketsandmarkets, the global pe-
rimeter security market is projected
to grow from $70.8 billion in
2022 to $100.2 billion in 2027 at
a CAGR of 7.2 percent during the
forecast period.
Grand View Research has the
year 2021 as its starting point,
when it is estimated that the perim-
eter security market had a turnover
of $59.21 billion. The average
annual growth is estimated at 9.4
percent during the period 2022
to 2030. With that growth rate in
2021, Grandview Research's esti-
mate of the market's total turnover
landed at around $65 billion.
It can be said that the two mar-
ket research companies are quite
close in their assessment of the
market, despite that the parameters
they use to define the market in
some cases differ.
Critical infrastructure
Grandview Research claims that the
increasing threat of terrorism and
governments' need for effective se-
curity around their national borders
are growth driving factors. Govern-
ment investments in security also
include government support for
implementing various security sys-
tems in critical locations. As growth
factors, Grandview Research also
cites technological advances in
the field of automation and the
receptivity to new technologies,
such as video analytics and drones
to give better results.
Marketsandmarkets believes
that a global increase in crime is a
significant factor, not least for the
retail sector. Shopping centres and
larger stores (especially in home
electronics and car retail) see a need
for enhanced perimeter security.
But above all, it is airports, border
controls and facilities for energy
and water supply as well as other
important infrastructure that ac-
count for the large investments in
perimeter security.
AI drives growth
Another growth factor is the in-
creasing demand for video surveil-
lance, access control systems and
other technology solutions that can
streamline perimeter surveillance.
Not least the increasing use of intel-
ligent technology linked to artificial
intelligence, such as Machine
Learning (ML) and Deep Learning
(DL), are strongly influencing
growth factors.
Intelligent video surveillance
is considered to provide robust
security against both conventional
criminal attacks and terrorist at-
tacks, which explains why video
surveillance systems are predicted
to continue having the largest share
of the perimeter security market.
Video surveillance
systems dominate
Grand View Reseach highlights
that the growing security con-
cerns have led to new multi-layer
solutions for perimeter protection.
Some of the technologies gaining
popularity are electronic fences
with sensors and integrated fiber
optic intrusion detection systems.
The fact that digital technol-
ogy has had a major impact on the
market for perimeter security is
confirmed by the fact that software-
based video surveillance systems
dominated the industry, accounting
for the highest market share more
than 45.5 percent of global revenue
in 2021.
Grand View Research believes
as does Marketandmarkets that
video surveillance systems are
the fastest growing segment on
the market. Easy installation and
countless application possibilities
are factors that have resulted in the
increased use of video surveillance
systems.
Highest growth in APAC
According to Marketsansmarkets,
Asia and the Pacific (APAC) has
the highest growth as a result
of escalating criminality and
growing public anxiety, but also
major investments in smart cities
and infrastructure in the region
are growth driving factors for
perimeter security solutions in the
APAC.
The APAC-countries with the
fastest economic growth include
China, Japan, India, Singapore,
Australia and New Zealand.
By Lennart Alexandrie
Perimeter security is increasingly about proactiv-
ity. Fences and guards take all the glory, but it is
with the rapid development of technology that
24/7 monitoring can become a reality. So how big
is the market for perimeter security technology
and how fast is it growing?
Detektor has looked at how Marketsandmarkets
and Grand View Research respectively assesses
the perimeter security market from a global per-
spective.
Perimeter security
technology-driven sub-sector with challenges
Special Feature: Perimeter Surveillance
Intelligent video surveillance is considered to
provide robust security against both conventional
criminal attacks and terrorist attacks, which ex-
plains why video surveillance systems are predicted
to continue having the largest share of the perim-
eter security market.
Editor: Lennart Alexandrie