Impact of the COVID-19 outbreak on Perimeter Security Systems and Solutions Market

Global Perimeter Security Systems and Solutions Market: Overview

Perimeter security refers to an integrated system that helps in physical security of a facility as well as provides protection against unauthorized physical intrusions. It includes technologies such as video surveillance systems, access control systems, notification and communication systems, and intrusion detection. In the recent times, owing to technological advancements, security systems also deploy infrared, microwave, radar, and seismic sensors, which has further added to the robustness of these systems. With growing demand to ensure protection from all types of malicious activities and to check the movements of authorized personals, the global market for perimeter security systems and solutions is projected for healthy growth rate during the forecast period of 2016 to 2024.

This report on global perimeter security systems and solutions market is a thorough study of the market in its current condition, and based on an in-depth analysis of all the factors that may impact the demand in the recent future, it estimates the future state of the market until 2024. It also highlights some of the latest trends of the market in order to help the existing and new players in making most of the new opportunities. Among the key features of the report is the chapter on company profiles, wherein a number of leading vendors have been analyzed for their market share, competitors, products, pricing and margin, and recent strategic developments such as mergers and acquisitions, collaborations, and investments for the development of new products and technologies. The global perimeter security systems and solutions can be segmented on the basis of application, into video surveillance systems, system integration consultancy, and commercial and transportation facilities.

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Global Perimeter Security Systems and Solutions Market: Drivers and Restraints

Some of primary factors driving this market include constant risk of terrorism, increasing criminal activities, illegal immigration concerns, and anti-government protests. Several governments across the world have employed regulations to increase safety at respective facilities and are offering subsidies for the adoption of new technology. The need to reduce manpower is another prominent factor helping the expansion of the market. These perimeter security systems and solutions not only work constantly, the automated processes help in reducing the number of manual check-posts. End-use industries such as oil and petrochemical, power stations, and hazardous industries are expected to extend the demand in the near future. Conversely, economic slowdown and high cost of these systems are expected to hinder the growth rate of the market during the forecast period.

Currently, the product segment of video surveillance systems accounts for most of the demand in the market, although the segment of commercial and transport facilities is projected for most robust growth rate.