PUBLISHER: Grand View Research | PRODUCT CODE: 1092497
PUBLISHER: Grand View Research | PRODUCT CODE: 1092497
The global perimeter security market size is expected to reach USD 132.4 billion by 2030, registering a CAGR of 9.4% over the forecast period, according to a new report by Grand View Research, Inc. The increasing insecurities among civilians and the rising illegal activities, such as planned crimes, thefts, smuggling, and human trafficking, have led to a rise in the adoption of perimeter security systems. Technological proliferation has led to the growth of smart cities and smart infrastructure. Owing to this, the implementation of security systems at commercial complexes, entertainment hubs, and public sites is on the rise. The integration of security systems with the internet and the latest mobile devices has made surveillance easier. The latest technology has also led to the introduction of infrared, microwave, radar, and seismic sensors.
The video surveillance systems segment is expected to register the fastest CAGR over the forecast period due to the large-scale investments in smart infrastructure projects by various nations. The global need to improve safety and security across many industries is considerably contributing to the market growth. In comparison to the preceding decade, the surveillance market has changed due to significant advances in cloud hosting and video surveillance software. The alarms & notification systems are expected to grow at a slow pace in the market over the forecast period. The maintenance & support systems are anticipated to witness the fastest growth over the next eight years. Perimeter security systems are expected to find major applications in the transportation end-use segment.