According to a new report, the global perimeter intrusion detection systems market is expected to grow at a compound annual growth rate (CAGR) of 11.9% over the forecast period of 2022 to 2030.
The report, from ResearchAndMarkets, reveals that the market was estimated to be worth $13.5 billion in 2022 and is projected to reach $33.1 billion by the end of the analysis period.
One of the segments analyzed in the report, solutions, is projected to record a CAGR of 11.5% and reach $26.6 billion by the end of the forecast period.
Additionally, the report says that, taking into account the ongoing post pandemic recovery, growth in the services segment is readjusted to a revised 13.7% CAGR for the next eight-year period.
The perimeter intrusion detection systems market in the US is estimated to have been worth $4.1 billion in 2022, according to the report. China, the world’s second largest economy, is forecast to reach a projected market size of $3.6 billion by the year 2030, trailing a CAGR of 14.3% over the analysis period.
Among the other noteworthy geographic markets highlighted by the report are Japan and Canada, each forecast to grow at 9.1% and 11.1% respectively over the 2022-2030 period.
Some of the key players in the global perimeter intrusion detection systems market highlighted by the report include Axis Communications, Honeywell International, Johnson Controls International, PureTech Systems, Senstar Corporation and Teledyne FLIR.
With the effects of the COVID-19 pandemic reducing day by day, it is important for continued investments into perimeter protection to prevent the theft or damage of properties and assets.
By ensuring that any intruders on a premises are detected as quickly as possible, it can reduce loss and decrease overall costs. Investing into cameras, alarms or even drones can help to identify bad actors rapidly and help security teams to remain aware of what is happening at perimeters.