FORT WORTH, Texas, June 5, 2015 /PRNewswire/ --
The North American perimeter security market is expected to grow from $4,261.4 million in 2014 to $5,166.5 million by 2019, at a CAGR of 3.9% during the period under consideration.
Browse through the TOC of North American perimeter security market for an analysis of industry trends and segments, with the help of various tables and figures.
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Although the U.S. market holds a larger share in this market, the market in Canada is expected to grow at a higher CAGR of 5.2% during the forecast period of 2014 to 2019. 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 costs of manpower.
However, the economic slowdown in the region has proven to be a hurdle in the growth of the perimeter security solutions market in recent years. 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 system, service, vertical, and geography. 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 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. The major verticals covered in the report are defense & government, transportation, critical infrastructure, commercial facilities, and sensitive areas, among others.
The critical infrastructure vertical held the largest share of the North American perimeter security market in 2014, owing to the need for protection of critical entities such as nuclear power plants and oil & gas facilities, which is of immense importance to the national security of a country. However, commercial facilities and sensitive areas are expected to grow at the highest CAGRs from 2014 to 2019, as these verticals are expected to deploy perimeter security systems on larger scales in the 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 foundation for perimeter security solutions. However, the spending on video & intelligence analytics is expected to continue to be greater than the spending on sensors, across all verticals, during the given forecast period.
The Europe perimeter security market is expected to grow from $3.27 billion in 2014 to $3.91 billion in 2019 at CAGR of 3.6% for the period 2014 to 2019. The market is primarily driven by the increasing terrorism threats and government regulations.
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