Global perimeter security market to grow to $20.3 billion over next five years
DALLAS, 6 Aug. 2015. The worldwide market for perimeter security will grow from $14 billion this year to $20.3 billion by 2020, driven by he rising number of perimeter intrusions, predict analysts at market researcher MarketsandMarkets in Dallas. This represents a combined annual growth rate of 7.6 percent.
Analysts make their predictions in a report entitled Perimeter Security Market by System (IDS, Video Surveillance, Alarms and Notification, Access Control), Service (System Integration and Consulting, Risk Assessment, Managed Services, Maintenance and Support), Vertical, Region - Global Forecast to 2020.
Perimeter security refers to an organization’s capability to monitor its premises and guard against any intrusion. The rising intrusion rate has caused organizations to look for solutions that manage intrusions in real time, warn of a particular intrusion, and take actions to mitigate it.
The rising number of perimeter intrusions is behind increased spending during the last five years. The losses due to perimeter intrusions are significant and can range from damage to property to loss of critical information.
The market also has seen increased demand for maintenance and support services, which are expected to grow over the next five years. System integration and consulting is expected to have the highest market size during the forecast period.
The major vendors in the perimeter security market are Axis Communications, Anixter, United Technologies, Southwest Microwave, RBtec Perimeter Security Systems, CIAS, and Fiber SenSys.
The report segments intrusion detection systems by deployment into fence mounted, buried, and open-area deployments. The report also identifies drivers, restraints, and opportunities. It divides the market by region into North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. North America is expected to be the largest market based on spending and the rate of perimeter security adoption.
For more information contact MarketsandMarkets online at www.marketsandmarkets.com.