South America Border Security Market
The SAM border security market is analyzed based on historic, current, and future trends prevailing in different countries of the region. The countries analyzed include Brazil, Argentina, and Rest of SAM (Chile and Peru). The soldier modernization practice is gaining prominence in the region to maintain readiness among the military forces. To modernize the soldiers, the procurement of advanced electronics and electricals for enhanced border security is at a constant rising. The adoption of body-worn camera is surging rapidly among the Brazilian defense forces, and higher adoption rate of body-worn camera and other electronics is propelling the demand for advanced camera system. This factor is driving the growth of the border security market in the region. Brazil is focusing on the adoption of autonomous vehicles. For instance, in January 2020, EmbraerX, which is working on UAV, declared a partnership with Elroy Air, a US-based start-up. Thus, the increasing interest in introducing autonomous vehicles and surging adoption of UAVs is likely to propel the demand for border security system in SAM during the forecast period. The COVID-19 pandemic has significantly affected the manufacturing of advanced security system in countries such as Brazil and Argentina. The outbreak has also resulted in the shutdown of production plants, which has impacted the production output and has limited the growth of the border security market in the region.
Brazil has the third highest number of COVID-19 cases in the South America, countries including Colombia, Ecuador, Chile, Peru, and Argentina, among others are also witnessing the adverse impacts of the pandemic across various industries. The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread. It is anticipated that the market in South America will face steep decline as the majority of stimulus package deployed by the government were majorly focused to public healthcare and tax relief. In addition to this, the decline in activity was larger in labor-intensive service industries than in capital-intensive primary and manufacturing ones, causing unemployment to jump in most countries. The steep fall in business activities and product sales are expected to directly affect the growth rate of Border Security Market in this region for the next three to four quarters.
Strategic insights for the South America Border Security provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2337.37 Million |
| Market Size by 2028 | US$ 3187.62 Million |
| Global CAGR (2021 - 2028) | 4.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Environment
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Border Security refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The border security market in SAM is expected to grow from US$ 2337.37 million in 2021 to US$ 3187.62 million by 2028; it is estimated to grow at a CAGR of 4.5% from 2021 to 2028. Increasing adoption of intelligent surveillance system; The growing adoption of intelligent surveillance system (ISS) is gaining attention of the military forces, owing to the mounting demand for enhanced border security and safety. This system is capable of automatically analyzing the video, image, audio, or other type of surveillance data without or with restricted human intervention. The increasing developments of advanced electronic devices such as computer vision, sensor, artificial intelligence, and machine learning plays a significant role in empowering these intelligent systems. The intelligent surveillance system consists of probable sensor modalities and their fusion developments for designing advanced security system such as infrared camera, visible camera (CCTV), thermal camera and radar system. In intelligent surveillance system (ISSs), several technologies such as pattern recognition, computer vision, and artificial intelligence technologies integrated to detect abnormal behavior’s in audio, images, and videos. These systems represent the development of real-time behaviors-based intelligent surveillance systems and thus, trigger alarms to alert military forces about the potential threats. This is bolstering the growth of the border security market
In terms of environment type, the ground segment accounted for the largest share of the SAM border security market in 2020. In terms of system type, the unmanned vehicles segment held a larger market share of the border security market in 2020.
A few major primary and secondary sources referred to for preparing this report on the border security market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BAE Systems plc
The South America Border Security Market is valued at US$ 2337.37 Million in 2021, it is projected to reach US$ 3187.62 Million by 2028.
As per our report South America Border Security Market, the market size is valued at US$ 2337.37 Million in 2021, projecting it to reach US$ 3187.62 Million by 2028. This translates to a CAGR of approximately 4.5% during the forecast period.
The South America Border Security Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Border Security Market report:
The South America Border Security Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Border Security Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Border Security Market value chain can benefit from the information contained in a comprehensive market report.
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