Significant Growth for Global Barrier Market
The latest research shows that the global barrier systems market size is expected to reach USD 24.5 billion by 2025, registering a CAGR of 9.8% from 2020 to 2025.
Information from Grand View Research, Inc. finds that the growth can be attributed to their increasing use in commercial, residential, and high-end security applications. Moreover, these solutions enable access to vehicles and pedestrians at crossing points to avoid accidents, thereby increasing their adoption.
Numerous vendors offer high-security barrier solutions, which are used in vehicle access control systems to protect critical infrastructure and stop projectile impacts. Furthermore, barrier systems include trigger loops and timers to help reduce traffic congestion. The monitoring and access control solutions ensure that property and assets are protected from thieves.
Increasing consumer preference for residential safety and security is anticipated to contribute to barrier system market growth. Governments across the globe are taking initiatives for infrastructure development, which is further expected to favour market growth over the forecast period. Surge in incidents of security breach are fuelling the need for safety and security, which in turn is driving product adoption in end-use industries.
Rapid industrialisation and increasing construction activities across the globe are expected to propel market growth over the forecast period. In addition, increasing terrorism, illegal events, and fraudulent activities have led to a rise in the adoption of barrier systems. These solutions are also widely adopted in data centres and financial institutions to avoid intrusion, property damage, and data theft, among others.
The information shows that the perimeter security and alarms segment is expected to witness significant growth over the forecast period based on access control device. The analsysts attribute this to increased demand for video surveillance solutions and intrusion detection systems in smart city infrastructures.
In terms of product type, the bollards segment is expected to witness significant growth over the forecast period owing to increased adoption of removable bollards in monitoring and controlling traffic flow.
Companies cited by the research as being key market players include Betafence; Delta Scientific; Hill & Smith; Lindsay; Senstar; Tata Steel; and Valmont.