Perimeter Security Market to double in value by 2032, driven by advanced security solutions
From GlobeNewswire: 2024-12-04 08:00:00
The Perimeter Security Market was valued at USD 72.78 billion in 2023 and is projected to reach USD 152.40 billion by 2032, growing at a CAGR of 8.61%. Drone technology is driving innovation in perimeter security, offering real-time aerial surveillance and adaptability for applications like border control and industrial monitoring. Key investors like Goldman Sachs and Baidu are fueling advancements in AI and automation for enhanced security measures.
Video surveillance systems dominated the market in 2023, with a 45% share, due to their efficiency in real-time monitoring. Intrusion detection systems (IDS) are expected to grow at the fastest CAGR, driven by rising security concerns. System integration and consulting services captured a 51% share in 2023, providing comprehensive perimeter defense solutions.
North America led the Perimeter Security Market in 2023, with the U.S. investing in AI-powered surveillance and enhanced security solutions. The Asia-Pacific region is set to be the fastest-growing market from 2024 to 2032, driven by rapid urbanization and smart city investments. Companies like Hikvision are accelerating growth with advanced security solutions in countries like China and India.
Recent developments include Bosch showcasing smart security solutions at ISC West 2024 and Schneider Electric falling victim to a Cactus ransomware attack, leading to the theft of terabytes of corporate data. The attack caused ongoing outages to Schneider Electric’s Resource Advisor cloud platform, with threats of data leakage by the attackers. The Perimeter Security Market Segmentation by End User is analyzed in a new report, with regional analysis and company profiles included. The report also features use cases and best practices, concluding with insights on market growth and outlook until 2032. For more information or customization options, contact [email protected].
SNS Insider, a leading market research and consulting agency, offers clients the knowledge needed to navigate changing market conditions. Using various techniques such as surveys and focus groups, the company provides current and accurate market data, consumer insights, and opinions to help clients make confident decisions. Visit https://www.snsinsider.com/reports/perimeter-security-market-4811 for more insights.
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