The overall Perimeter Security Market size estimated to $110.64 billion in 2017 and expected to reach $196.60 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 12.2%.
The major factors driving the growth of the perimeter security market includes the necessity to safeguard individuals as well as property from the rapidly evolving threats, the increasing consumer awareness and security concerns, the willingness to pay for security systems, the growing demand for deployment of wireless technology in security systems, and the adoption of Internet of Things (IoT)-based security systems.
Competition in the perimeter security market is high because of the presence of a large number of players. Some of the key players in the perimeter security market include Axis Communications AB (Sweden), United Technologies Corporation (US), Honeywell International Inc. (US), Hangzhou Hikvision Digital Technology Co., Ltd. (US), Bosch Security Systems (Germany), Southwest Microwave, Inc. (US), Dahua Technology Co., Ltd. (China), Johnson Controls International plc (Tyco Systems Inc.) (Republic of Ireland), RBtec Perimeter Security Systems (US), Fiber SenSys, Inc. (US), CIAS Elettronica (Italy), Senstar Corporation (Canada), and PureTech Systems, Inc. (US). New product launches and partnerships are the key strategies majorly adopted by the market players to offer feature-rich products and services to their customers and penetrate deeper into the uncatered regions.
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Bosch Security Systems, Inc. (Germany) is one of the leading players in the perimeter security market. The company collaborated with key players, such as Milestone Systems, to enhance all Milestone XProtect Video Management Software (VMS) editions into the Bosch software and Building Integration System (BIS). In addition, the company offers various products, such as the G and B Series control panels and systems, which offer an integrated use of different physical security and safety domains (intrusion, fire, access, video systems), along with mobile access combined in 1 system. The company’s video systems provide complete video surveillance solutions and include Internet Protocol (IP) cameras, analog cameras, encoders and decoders, recording, video software, workstations and servers, monitors, switching systems and keyboards, and accessories. In November 2016, Bosch Security Systems partnered with Sony Corporation to provide innovative products and solutions in the field of video security applications.
Tyco International PLC (Ireland) is one of the leading global providers of security products and services, fire detection and suppression products and services, and life safety products, worldwide. It also offers products and services across various industries, such as the commercial, industrial, retail, small business, institutional and governmental, as well as, non-US residential market. The company offers various solutions, such as fire detection, which includes fire alarms control panels, fire alarm monitoring, smoke, heat, carbon monoxide detectors, mass notification and voice evacuation system, emerging lighting system, and risk assessment, service and installation.
The company collaborated with key players, such as Bold Technologies to integrate SG-System 5 with Manitou central station software. The company has its presence majorly in the US and Canada (North America), Central America and South America (Latin America), Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). In February 2017, Tyco security products launched 2 new IP cameras, namely, 2MP PTZ and 12MP fisheye cameras, which help add power and value to its growing Illustra IP camera portfolio.
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