Perimeter intrusion detection systems market to reach $21.3 billion by 2026
The global market for perimeter intrusion detection systems estimated at $11 billion in the year 2020, is projected to reach a revised size of $21.3 billion by 2026, growing at a CAGR of 11.9% over the analysis period, according to ResearchAndMarkets.
Solutions, one of the segments analyzed in the report, is projected to grow at a 11.7% CAGR to reach $19.8 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 13.1% CAGR for the next 7-year period. This segment currently accounts for a 16.9% share of the global perimeter intrusion detection systems market.
The perimeter intrusion detection systems market in the U.S. is estimated at $3.5 billion in the year 2021. The country currently accounts for a 30.75% share in the global market. China is forecast to reach an estimated market size of $2.1 billion in the year 2026 trailing a CAGR of 14.4% through the analysis period.
Perimeter intrusion detection systems represent the foremost like of defense for critical facilities or sites, aligning with the unending pursuit to protect the critical infrastructure from physical attacks, intrusions or thefts. These systems are intended to monitor perimeter of a property to detect and prevent any unauthorized access.
Perimeter intrusion detection systems demand growth
Perimeter intrusion detection systems are witnessing increasing demand from various verticals such as electric utilities, logistics, and industrial & commercial facilities due to the pressing need to secure critical infrastructure along with other sites.
The construction industry is a major end-user of perimeter intrusion detection systems. Growing number of buildings constructed tends to increase volume of installations of these systems as part of mandatory building security and surveillance regulations. Industrial and commercial verticals are increasingly investing in video surveillance-enabled perimeter intrusion detection systems.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.2% and 11.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR while Rest of European market will reach $2.4 billion by the end of the analysis period.
North America dominates market growth owing to extensive adoption of perimeter intrusion detection systems in the US and Canada. The Asia-Pacific region is estimated to exhibit substantial growth in the coming years as a result of infrastructure development, government regulations and rising requirement of perimeter security.