Report: North American Perimeter Security Market Growing 3.9% Annually
A research firm estimates the market will be worth more than $5 billion by 2019.
DALLAS – The North American perimeter security market is projected to grow at a compound annual growth rate (CAGR) of 3.9% from 2014 to 2019, according to a report by Micro Market Monitor. The research firm estimates the market’s worth will increase from $4.3 billion to $5.2 billion during the same time frame.
Geographically, North America is estimated to have accounted for 6.09% of the global perimeter security market in 2014. The U.S. is estimated to have commanded 73.91% of the North American market in 2014.
Although the United States holds the larger share in the North American perimeter security market, Canada and Mexico are expected to grow considerably. Growth in the region is being driven by factors such as anti-terrorism efforts, government regulations and pressures to reduce manpower costs, according to the report.
The report segments and forecasts the market based on industry verticals such as defense and government, critical infrastructure, transportation, commercial facilities, sensitive areas and others. The report further segments and forecasts the market based on systems and services such as intrusion detection, video surveillance, system integration and consulting services, managed services and others.
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