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:
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Million Insights has segmented the global barrier systems market on the basis of type, function, access control device, end use, and region:
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