Perimeter security market to grow at 7.6% CAGR from 2015 to 2020: report

The perimeter security market size is expected to grow from US$14 billion to $20.3 billion by 2020, at an estimated compound annual growth rate (CAGR) of 7.6% from 2015 to 2020, according to a new report by Research and Markets.

Also, the critical infrastructure vertical is expected to account for the largest market share throughout the forecast period, the report found. However, there are few revenue pockets, namely commercial facilities and transportation facilities, which are also expected to witness significant growth in this period.

The above data are included in the report, called "Perimeter Security Market by System, Service, Vertical, Region - Global Forecast to 2020."

According to the report, the need for perimeter security is increasing due to a constant risk of intrusion, large-scale illegal immigration, increased crime, and theft. The benefit for deploying perimeter security solutions include protection of organizations’ infrastructure from the external threats such as unauthorized access, perimeter intrusion, and other criminal acts.

"With growing concerns over physical intrusions, various verticals such as government and military facilities, critical infrastructure, commercial & industrial sites, and correctional facilities are securing their perimeter by deploying perimeter security systems such as intrusion detection systems, video surveillance systems, alarm systems, access control systems, and other integrated security systems," the report said.

Rise in the number of perimeter intrusions and increasing government regulations on perimeter security are the main drivers of the perimeter security market, the report said. With the emergence of video analytics, thermal imaging video surveillance, and other next-generation integrated systems, the perimeter security market is expected to witness huge opportunity to grow in the next five years.