Dec 22 2014
Research and Markets has announced the addition of the "Micro Market Monitor: North America Perimeter Security Systems Market" report to their offering.
The North American perimeter security market is estimated to grow at a CAGR of 3.6% from 2014 to 2019. Although the U.S. market holds a larger share in this market, Canada is expected to grow at a higher CAGR of 7.9% in the forecast period. The growth of the perimeter security market in North America is driven by factors such as need for security against terrorist activities, government regulations, technological developments, and the requirement to reduce the cost of manpower.
However, the economic slowdown in the region has proven to be a hurdle in the growth of the perimeter security solutions market. Most industries and organizations are reluctant to install perimeter security as a result of their unwillingness to incur additional costs for such high-end security solutions.
The report on the North American perimeter security market categorizes the market on the basis of systems, services, verticals, and geographical locations. On the basis of systems, this market has been segmented into intrusion detection sensors, video surveillance systems, access control systems, and communication/alarms and notification systems. The intrusion detection sensor technologies covered in this report are microwave sensors, radar sensors, fiber-optic sensors, and infrared sensors, among others.
The market has also been segmented on the basis of services into system integration and consulting, risk assessment and analysis, maintenance and support, and managed services. On the basis of verticals, the market has been segmented into defense & government, transportation facilities, critical infrastructure, commercial facilities, and sensitive areas.
The critical infrastructure vertical has the highest share in the perimeter security market because the protection of critical entities such as nuclear power plants is of immense importance to the national security of a country. However, commercial facilities and sensitive areas have the highest growth rate of 6.4% from 2014 to 2019, as these verticals are expected to deploy perimeter security systems on a large scale in coming years.
In North America, the trend involving the verification of intrusion alarms with the help of video technology is driving the market for video surveillance systems in the region. The spending on sensors is expected to remain the backbone of perimeter security solutions. However, the spending on video & intelligence analytics will continue to be greater than the spending on sensors, for all verticals. System integration and consulting services are expected to have a higher market share in the perimeter security market during the forecast period.
Source: http://www.researchandmarkets.com/