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The global PID&PS market comprising alarm system, access control and perimeter security has recovered post recession and is showing a promising growth; owing to revived commercial projects and technical advancement in the field. PID&PS is being employed across various fields; ranging from defense to commercial sectors. Access control systems market is poised to grow at a higher pace owing to increased security concerns and inflating security budgets all over the world as compared to the intruder alarm systems and perimeter security systems market.
Biometrics is the major contributor to access controls market. Biometrics technology improves the effectiveness of identification and authentication processes, refurbishes control access to physical and electronic resources, and advances the security of information systems. An emerging trend with respect to the intrusion detection & prevention system market is the demand for integrated solutions that integrate immediate onsite response with electronic security and alarm systems.
Global PID&PS market is estimated to reach $16.3 billion by 2017, growing at a CAGR of 7.0% from 2012 to 2017. This growth is mainly attributed to heightened security concerns backed by government and regulatory mandates. The market is, however, facing the issues of technological dormancy and high cost. At the same time, increasing number of regional regulatory compliances is seen as a major impediment to market growth.
Access control systems enjoy the largest market share, followed by intruder alarm and perimeter security systems respectively. The access control market is expected to grow at a higher CAGR as compared to the other two systems during the forecasted period. America is leading the total PID&PS market; followed by APAC and Europe respectively. In the market of ROW, Middle East and Africa are the largest contributors.
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