Perimeter Intrusion Detection Systems Market Size

Perimeter Intrusion Detection Systems Market size was valued at USD 13.61 billion in 2023 and is poised to cross USD 77.35 billion by the end of 2036, registering more than 14.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of perimeter intrusion detection systems is estimated at USD 15.17 billion.

The growth of the perimeter intrusion detection systems market can be attributed to the growing smart city initiatives globally, followed by the growing concern for robbery and thefts worldwide, which in turn, is driving the need for perimeter intrusion detection systems. According to the statistics by the Federal Bureau of Investigation (FBI) of the United States, around 267988 robberies were recorded in the country in the year 2019. On the other hand, according to the statistics by the Eurostat, in the year 2019, 1567500 burglaries and 4801400 thefts in the European Union were recorded.

Besides this, the growing installations of video surveillance systems worldwide, which includes sonar, radar, automatic identification systems, and GPS among others, followed by the rising advancements in cloud and wireless technology in security systems are some of the additional factors anticipated to drive the market growth. Moreover, growing use of artificial intelligence, machine learning, and internet of things (IoT) technologies in perimeter intrusion detection systems, along with the numerous initiatives taken by the government of developed and developing countries globally to keep their citizens safe, are some of the key opportunities projected to contribute to the perimeter intrusion detection systems market growth in the coming years.