how fencing impacts a property's value and overall look?

I’ve been thinking a lot about how fencing impacts a property's value and overall look. I live in a suburban area, and lately, I’ve been noticing a lot of homes upgrading their fences. I always thought it was mostly about privacy or security, but now I’m wondering: could the type of fencing really increase the value of my property? Has anyone here seen a noticeable difference after putting in a new fence, or is it mostly about aesthetics?