Market Trends of 3D Virtual Fence Industry
This section covers the major market trends shaping the 3D Virtual Fence Market according to our research experts:
Security Sector to Drive the Market Growth
- There has been an increasing need for perimeter security due to the growing number of terrorist attacks. One of the countries affected by terrorism, India, launched "Smart Fence" Project along the Indo-Pak border in 2018, which includes installing sensors, radars, day and night vision cameras
- Sweden also introduced terrorist-proof digital geo-fencing due to the growing threat of radical terrorism and organized crime. The new generation of sensors being used in the pilot project is capable of picking up and identifying the location of sounds, such as gunshots, explosions and breaking glass, and reporting them to central police monitoring stations in real time.
- Moreover, attacks like Ester bombings in Sri Lanka in 2019 and open gunfire at Christmas market in Strasbourg, France in 2018 indicate that new faces of terrorism are surfacing, which require advanced technologies for tackling them, thereby driving the need for a smart and virtual fence.
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Asia-Pacific to Witness the Highest Growth
- According to the Australian Strategic Policy Institute, while global deaths from terrorism fell by 27% in 2018, they rose by 30% in the Asia-Pacific. The increase has been centered in three countries: the Philippines, Myanmar, and Thailand have together experienced nearly 4,000 attacks over the past five years.
- This rise has broadly corresponded with the expansion of transnational terrorist franchises, such as al-Qaeda and Islamic State, into the region.
- The involvement of absolutist religious elements makes these groups difficult to eliminate. Therefore, the countries in the region are significantly investing in border and country security.
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