Barrier Systems Market to Show Rapid Growth Owing to Rising
FELTON, California, July 21, 2020 /PRNewswire/ -- The global barrier systems market size is projected to touch USD 24.5 billion by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 9.8% over the forecast duration. Factors such as growing preference in high-end security along with commercial and residential applications and usage for road safety of pedestrians are projected to bode well for the market growth over the forecast years.
Several vendors provide high-security barriers, which are widely used in vehicle access control systems to safeguard critical infrastructure and prevent projectile impacts. Moreover, barrier systems include timers and trigger loops to assist in lowering traffic overcrowding. The access control and monitoring solutions enable that asset and property are safeguarded from thieves.
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Increasing demand for residential security is projected to fuel the growth of the market in the upcoming years. Governments worldwide are undertaking several initiatives for developing infrastructure, which is also predicted to supplement product demand over the projected period. Increasing cases of accidents and security breaches are driving the need for safety, which, in turn, propelling product use in various end-use industries.
The rise in construction activities and increasing urbanization worldwide are anticipated to drive the growth of the barrier system market in the upcoming years. Additionally, fraudulent activities, rising incidents of terrorism, and illegal events have led to the shift in preference for barrier systems. These solutions are extensively preferred in financial institutions and data centers to prevent intrusion, data theft, and property damage among others.
Further key findings from the report suggest:
- The bollards division is predicted to foresee considerable growth from 2020 to 2025 due to the growing preference of removable bollards in controlling and monitoring traffic flow.
- The passive division is projected to lead the market in the upcoming years. These variants occupy large areas, which require engineered and crash rated protection.
- The perimeter security & alarms division is predicted to foresee substantial growth from 2020 to 2025 due to rising demand for video surveillance and disturbance detection in smart cities.
- The military & defense division is projected to lead from 2020 to 2025. Rising cross-border conflicts have increased the demand for barrier solutions in the defense industry.
- Asia Pacific is anticipated to lead the market from 2020 to 2025, due to the increasing implementation of access control devices to safe office complexes, buildings, and other facilities.
- The leading players of the market are HySecurity; Delta Scientific Corporation; Tata Steel Limited; Hill & Smith Holdings PLC; Lindsay Corporation; Concentric Security LLC; Senstar Corporation; Betafence; Tata Steel Europe Limited; Global GRAB Technologies, Inc.; and Valmont Industries, Inc.
Browse 150 page research report with TOC on "Global Barrier Systems Market" at: https://www.millioninsights.com/industry-reports/global-barrier-systems-market
Million Insights has segmented the global barrier systems market on the basis of type, function, access control device, end use, and region:
- Barrier Systems Type Outlook (Revenue, USD Billion, 2014 - 2025)
- Crash Barrier Systems
- Drop Arms
- Barrier Systems Function Outlook (Revenue, USD Billion, 2014 - 2025)
- Barrier Systems Access Control Device Outlook (Revenue, USD Billion, 2014 - 2025)
- Biometric Systems
- Perimeter Security Systems & Alarms
- Token & Reader Technology
- Barrier Systems End-use Outlook (Revenue, USD Billion, 2014 - 2025)
- Data Centers
- Financial Institutions
- Military & Defense
- Barrier Systems Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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