Perimeter Security Market Outlook – 2027
Perimeter security refers to an integrated system that allows for a facility’s physical security. It helps to safeguards against unauthorized physical intrusions. Outdoor perimeter security involves technologies such as video surveillance systems, access control systems, communication and notification systems, and detection systems for intrusion. The latest advancements in technology have led to the introduction of infrared, microwave, radar, and seismic sensors. This added to the robustness of those systems. The market for outdoor perimeter security has been characterized by the presence of global as well as local manufacturers that cater to the needs of customers around the world. These technologies and systems are entirely dedicated to the protection of corporate and intellectual assets within the perimeter.
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COVID – 19 Scenario Analysis:
- Tech firms are stepping up their emphasis on high-demand innovations and finding new ways to support their consumers, even as the COVID-19 crisis poses problems across sectors and leads to a decline in high technology investment.
- Also, real-time information is required to protect against intrusion. Thereby such security solutions help to compensate for the need for information, surveillance, and recognition (ISR) capabilities even in these pandemic situations.
- Solutions such as Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) are expected to contribute significantly when adapting to the COVID-19 pandemic and addressing constantly changing challenges.
- The increased push towards automation technologies will have a positive effect on the perimeter security solutions market as constant monitoring would be required, for any of the automated manufacturing facilities, thereby this industry has a chance of survival.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Due to increased thefts around the world, the outdoor perimeter security market is rapidly expanding. Another key factor boosting the outside perimeter security market is the increase in demand for outdoor safety systems among residential individuals. The risk of terrorism, increased criminal activity, illegal immigration, and protests against the government are key factors that influence the security market. Many governments around the world have implemented laws to make their facilities safer. They also offer subsidies for new technology adoption. On the other hand, the growing need for end-to-end support and maintenance solutions-customers play a vital role in maximizing existing infrastructure profits. Besides, increasing demands for consulting and system integration are providing market players with more opportunities. However, lack of knowledge of the perimeter security benefits has hindered to a greater extent market growth. Conversely, during the forecast period, the economic slowdown and high costs are estimated to hamper the market.
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The Global Perimeter Security market trends are as follows:
New product launches and deals to flourish the market
Polaris Sensor Technologies, sponsored by the Army Research Laboratory and Picatinny Arsenal, has introduced the Pyxis camera, an imaging polarimeter incorporating infrared (IR) and polarization technology to build a new thermal imaging device in 2020. While the U.S. military is deploying the new sensor to enhance its ability to detect camouflaged targets, the Pyxis’ early development focused on oil spill detection. Also, FLIR Systems Inc ‘s experts in electro-optical sensors will upgrade and repair sensors that provide beyond-the-fence surveillance of U.S. Marine Corps facilities under a $16.1 million contract announced in 2020. G-BOSS is a trailer-mounted tower that provides persistent surveillance in the Marine Corps with a stable, elevated platform for sensors and communications. Besides, under the Kifaru Rising Project, a partnership between FLIR Systems and the World Wildlife Fund (WWF), FLIR systems will deploy thermal imaging technology in 10 locations in Kenya to fight illegal rhino poaching by 2021. It has pledged $3 million in thermal imaging, engineering assistance, and training technology.
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Increasing automation ever-increasing R&D spending and commercial deployments
Another important factor boosting the perimeter security market is the need to reduce the workforce. Automated operations also reduce the number of manual checkpoints. Shortly, demand will be enlarged in the end-use industries such as oil, petrochemical, electricity plants, and other hazardous industries. Computer programming, AI, remote control, and semiconductors and electronics are some fields of science and technology which are commonly used in security solutions offering real-time protection. The high degree of manufacturing and operational complexities involved in the market for inspection drones reinforces technological collaborations between market players. As such, extensive R&D is likely to become an unavoidable business strategy for stakeholders to maintain their lead in the market. Furthermore, growing automation in various manufacturing industries require constant monitoring, which can be achieved via these security solutions, thereby giving an impetus to market growth.
Key benefits of the report:
- This study presents the analytical depiction of the global perimeter security market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions answered in the Perimeter Security Market research report:
- What are the leading market players active in the Perimeter Security market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
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