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  • Perimeter Intrusion Detection Systems Market Size Forecast to Reach $27.38 Billion by 2027

    (I-SoftwareNews.Com, March 17, 2022 ) The global Perimeter Intrusion Detection Systems market size is forecast to reach $27.38 billion by 2027, growing at a CAGR of 15.29% from 2022 to 2027. Perimeter intrusion detection systems help in enhancing the perimeter security level across industries via various types of sensors including microwave detectors, radar video surveillance systems, and others. The market growth is mainly driven by the factors including growing demand for enhanced perimeter security systems across industries, which lead to the increasing deployment of CCTV cameras, adoption of video management software as well as video analytics. Furthermore, the increasing demand for remote monitoring through wireless technologies coupled with technological advancement accelerates the growth of perimeter intrusion detection system market. Additionally, the presence of stringent regulatory norms to improve the perimeter security system to increase the efficiency level of security enhances the demand for this product across the world. Apart from that, rising dependency on video analytics, electrostatic field, motion detection, video surveillance, automatic identification system and others; for security is fuelling the growth of Perimeter Intrusion Detection Systems industry during the forecast period 2022-2027.

    Perimeter Intrusion Detection Systems Market Segment Analysis – By Solutions

    By solutions, the Perimeter Intrusion Detection Systems market is segmented into Sensors, Video Surveillance Systems. Video surveillance system is analysed to grow at a fastest CAGR of around 17.29%, during the forecast period 2022-2027. This segment is further sub segmented into Hardware and Software. The growth of this segment is attributed to the growing security threats, as these solutions help in enhancing the overall perimeter security system. In order to obtain the highest level of security services the public and government sectors including military and defence sector, residential, commercial sectors, industrial sectors are investing heavily on perimeter intrusion detection market, as it detects the intrusion event and alarms the people about it. Hence, these factors provide incentive to the market player to launch advanced products, which is set to boost the growth of this market. In October 2020, Seagate launched the Seagate SkyHawk AI 18 TB hard drive. It is world’s first purpose built hard drive for AI enable surveillance solution. It supports ML and deep learning workload streams. Similarly, in September 2022, Johnson Controls and Scylla jointly announced about an integration of Scylla AI-powered Perimeter Intrusion Detection System with the Tyco exacqVision video management software, which will help the customers of exacqVision in reducing the number of false positives by up to 99% and will assist in taking a better and well-informed decision once perimeter intrusion is detected. Such developments will accelerate the adoption rate of Perimeter Intrusion Detection Systems technology, thereby driving the growth of this market during the forecast period 2022-2027.

    Perimeter Intrusion Detection Systems Market Segment Analysis – By End User Industry

    Based on end-user industry, Perimeter Intrusion Detection Systems Market is segmented into Critical Infrastructure, Military & Defence, Law Enforcements, Public & Government, Transportation & Logistics, Industrial, Commercial, residential and Others. According to Perimeter Intrusion Detection Systems Market report of IndustryARC, Military & defence is analysed to witness fastest growth with a CAGR of 16.72% during the forecast period 2022-2027. Increasing number terrorist attacks and growing tension among the countries have triggered the adoption perimeter intrusion detection system in this sector. Apart from that, increasing investment in defence sector for developing new advance defence equipment is fuelling the growth of this market. In May 2019, Dehradun based Instrument research and development establishment (IRDE), a part of Defence Research & Development Organisation (DRDO) developed a surveillance equipment, Video and image processing enhancement and recognition system (VIPERS) which enhances the Indian army’s defence and surveillance system. Furthermore, perimeter surveillance solution also helps in remote monitoring and provides real time information which is also affecting the growth of this market during 2022-2027.

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    Perimeter Intrusion Detection Systems Market Segment Analysis – By Geography

    North America dominated the market with 33% Perimeter Intrusion Detection Systems market share in 2021, and is estimated to grow at a CAGR of 14.2% during the forecast period 2022-2027. Early adoption of this technology, large amount of investment for the enhancements on perimeter security systems, as the security threats are increasing rapidly, and the presence of prominent market players in this region are working as major driving forces. The market players of this region are taking various steps to expand their business that creates ample growth opportunities for this market. In August 2020, Canada-based company, Senstar announced that their system is integrated with Genetec’s Security Center via Senstar’s Network Manager software, which offers common software interface for monitoring and controlling Senstar perimeter sensors from VMS, SMS, and PSIM systems, and functions as a data server, that collects as well as distributes alarm point and control point status. Such developments will drive the growth of this market in this region during the forecast period 2022-2027.

    Perimeter Intrusion Detection Systems Market Drivers

    Growing Demand of Perimeter Surveillance System for security enhancements across Industries is set to boost the market growth:

    Growing safety concerns among public and across industries, wide adoption of IoT act as a major driver for this market. Increasing safety concerns, demand for remote monitoring, real-time information, operation monitoring and property related security threats are fuelling the demand for perimeter surveillance system across sectors. Due to the above-mentioned factors, companies from all over the world are investing heavily for the development and installation of surveillance system which is causing rising demand for these systems. In October 2019, Umbo Computer Vision had raised the investment by $8M for AI powered video security system. Such investments will drive the growth of this market. Increasing public security threats is also playing a major role in the market growth. According to the recent IFSEC Global report, it is estimated that 5.2M CCTV cameras were already installed in The UK for public surveillance, business security and residential safety. Such high rate of video surveillance system deployment affects the growth of this market positively.

    Strategic steps taken by the market players will fuel the growth:

    The players of this market are taking more strategic steps for the expansion of the market through new product launches, acquisition, investments and others, which is set to drive the growth of perimeter intrusion detection market during the forecast period 2022-2027. In September 2022, Senstar, leading provider of video management and perimeter intrusion detection solutions, introduced a new sensor fusion engine that synthesizes the data from multiple sensors to generate actionable information and helps in decreasing the nuisance alarm rates as well as enhances the system efficiency level for responding to real security threats. In May 2020, in-order to modernize the security and safety industry, Bosch announced the launch of its new product INTEOX, an open camera platform which combines Bosch’s built-in Intelligent Video Analytics with a commonly used open operating system (OS) and the ability to add software apps securely afterwards. In March 2020, Minuteman Security Technologies, a leading provider of enterprise security technology solutions including perimeter intrusion detection systems, acquired Norris, an established integrator. This acquisition made Minuteman one of the largest independent full-service providers of integrated security, communication, and life safety system. Hence, these types of strategic developments taken by the market players are analysed to boost the growth rate of Perimeter Intrusion Detection Systems market during the forecast period 2022-2027.

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    Perimeter Intrusion Detection Systems Market Challenges

    Cyber Security threats are harming the growth of this market:

    On one hand, many advantages of video surveillance solutions are helping the market to grow and on the other hand, few major disadvantages are harming the market growth. One of the major challenges is growing cyber security threats. With the rapid growth of the market, implementation of IoT and technological advancements, the quantity of IT security threats has also increased. In March 2022, a group of hackers announced that they had collected a massive amount of data from 150,000 surveillance cameras, placed inside and around hospitals, police departments, prisons, schools and companies, by conducting an attack on Verkada, Inc. Threats against any type of digital data can cause security issues. Hence, the digital security threats against video surveillance footages will hamper the growth of this market during the forecast period 2022-2027.

    Perimeter Intrusion Detection Systems Market Landscape

    Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Perimeter Intrusion Detection Systems Market. As of 2020, the market for Perimeter Intrusion Detection Systems industry outlook is consolidated with the top market players. Perimeter Intrusion Detection Systems top 10 companies include:

    Advanced Perimeter Systems

    Axis Communications AB

    CIAS Elettronica Srl

    Detekion Security Systems

    FLIR Systems

    Future Fibre Technologies

    Honeywell International Inc.

    Senstar Corporation

    Detection Technologies

    Godrej Security Solutions

    Acquisitions/Technology Launches/Partnerships

    In May 2021, Heras announced the launch of its new next generation perimeter intrusion detection systems (PIDSs). This system is specifically designed to provide greater levels of perimeter protection to various sectors including warehouses and distribution centres with high value stockholding.

    In March 2021, Optex introduced its new Redscan Pro Lidar Sensor for high accuracy detection. This product is equipped with the longest range, which makes it more suitable, effective and reliable for perimeter intrusion security systems.

    Key Takeaways

    North America held the major market share in 2021 and is estimated to witness significant growth during 2022-2027, owning to early adoption of this technology, higher investments on perimeter security systems and the presence of prominent market players in this region.

    The market of Perimeter Intrusion Detection Systems is estimated to witness significant upsurge during the forecast period, owing to the growing demand of perimeter surveillance and security systems across the industries.

    This industry is consolidated with top market players including Advanced Perimeter Systems, Axis Communications AB, CIAS Elettronica Srl, Detekion Security Systems, FLIR Systems among others.

    Relevant Report Titles:

    Global Perimeter Security Market

    For more Information and Communications Technology related reports, please click here

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    Venkat Reddy

    (+1) 970-236-3677

    Source: EmailWire.Com


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