Straits Research’s Projections: Burglar Alarm Systems Market to Surge at 6.71% CAGR, Hitting 7.09 billion by 2030

Straits Research’s Projections: Burglar Alarm Systems Market to Surge at 6.71% CAGR, Hitting 7.09 billion by 2030

New York, United States, Sept. 26, 2023 (GLOBE NEWSWIRE) — Crime and insecurity are major issues for end-use businesses. Nowadays, households and businesses often install burglar alarm systems to prevent unauthorized entry. Intrusion alarm systems can detect and monitor unauthorized building entry. A burglar alarm alerts the user by sound, visual, and telephone alarms. According to FBI research, a burglary occurs every 15 seconds in the US. Homes without security systems are three times more likely to be burglarized.

“The Global Burglar Alarm Systems Market Size was valued at USD 3.95 billion in 2021 and is predicted to reach at USD 7.09 billion by 2030, increasing at a CAGR of 6.71% from 2022 to 2030. Rising safety and security concerns, appealing insurance coverage, and the popularity of smart homes drive the burglar alarm system sector.” quoted by Seema, Research Manager at Straits Research P. Ltd.

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Rising Trends

DIY Home Security Systems Drive Market

DIY home security systems fuel the global burglar alarm market due to their low cost, ease of installation, and smartphone-enabled control. The US uses home security systems more than any other country in North America. The reduced cost of these devices compared to professional security systems will fuel future market growth. DIY security solutions will assist non-traditional security companies expand alarm system penetration.

Contactless biometric technologies are likely to gain popularity due to the pandemic and the requirement for remote video surveillance. Rapid IoT network expansion is also predicted to create growth prospects.

Growth Opportunities

Innovative Motion Detectors Unlock New Opportunities

In contrast to maximum security systems that primarily focus on motion detection or other sensing (such as door and window contacts), high-tech and non-visual sensors have been introduced in recent years. These include radar, microphones, and glass break detectors. These include radar and sound detection.

Similarly, audio sensors linked with CCTV cameras have improved the audio detection capabilities of these systems, increasing the value of home security systems. These sensors use powerful processing technologies and unique algorithms to distinguish pre-defined sounds like shattered glass, gunfire, and loud Behavior. Soon, this will expand the burglar alarm market.

Regional Overview

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the Global Burglar Alarm Systems Market.

North America’s market share was over 45% in 2021. The market research breaks North America into the U.S., Canada, and Mexico. Mergers and acquisitions are how market participants expand in the region. ASSA ABLOY bought Spectrum Brands in 2021 and Spectrum Brands specializes in home improvement and hardware. Spectrum Brands sells home security products. U.S.-based.

Asia Pacific’s real estate and IT sectors are expected to stimulate demand for intelligent alarm systems. India, Japan, Singapore, and others have exhibited a growing demand for home security systems and services, which is expected to expand the market in the area. The government’s publishing of security legislation and standards will boost the Asia-Pacific industry. China’s technology breakthroughs could increase its market share.

Key Highlights

  • The Global Burglar Alarm Systems Market size is predicted to reach at USD 7.09 billion by 2030, increasing at a CAGR of 6.71% from 2022 to 2030.
  • By Type, the Global Burglar Alarm Systems Market is segmented into Wireless and Wired. With a market share of more than 67% in 2021, the wired alarm segment was the most popular.
  • By Component, the Global Burglar Alarm Systems Market is segmented into Hardware, Software, and Services. In 2021, the hardware sector held a commanding market share of more than 69%.

List of major competitor companies in the Burglar Alarm Systems Market across the globe are:

  2. Banham
  3. ADT
  4. Johnson Controls
  5. Hangzhou Hikvision Digital Technology Co., Ltd.
  6. Napco Security Technologies, Inc.
  7. Securitas AB
  8. Siemens
  9. Risco Group
  10. Honeywell International, Inc
  11. Inovonics Wireless Corporation
  13. Bosch GmbH
  14. Tyco Integrated Security

Burglar Alarm Systems Market Segmentations

By Type

By Component

  • Hardware
    • Central Monitoring Receiver
    • Remote Terminal Unit
    • Alarm Sensors
    • Motion Detection Sensors
    • Door/Windows Sensors
  • Software
  • Services

By Application

  • Commercial & Industrial
  • Residential

By Regions

  • North America
  • Europe
  • APAC
  • Middle East and Africa

Recent Developments

  • May 2022 – Johnson Controls, a leader in smart, healthy, and sustainable buildings, will open an OpenBlue Innovation Center in its Cork, Ireland, HQ. The OpenBlue Innovation Center in Cork strives to build a future-ready built environment for local and worldwide clients. It’s part of an international network of OpenBlue Innovation Centers that pioneer smart, healthy, and sustainable environments.
  • March 2022 – ASSA ABLOY, a global pioneer in access solutions, had launched its innovative new booth at ISC West in March 2022 to showcase its latest innovations. ASSA ABLOY’s primary focus will be on helping delegates find new opportunities for improving health, safety, and accessibility at their facilities in light of rising security challenges as a result of the ongoing health, economic, and social crises.

About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

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