The Burglar Alarm Systems Market to grow at a CAGR of 6.3% from 2022 to 2027|The growing adoption of smart homes to boost market growth- Technavio

NEW YORK, Aug. 7, 2023 /PRNewswire/ — The burglar alarm systems market is estimated to increase by USD 1,493.73 million from 2022 to 2027, with a CAGR of 6.3%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report –Request a sample report

Burglar Alarm Systems Market – Company Scope

The burglar alarm systems market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 companies listed Below –

Ackerman Security, ADT INC., Alarm.com Holdings Inc., Alphabet Inc., Bay Alarm Co., Comcast Corp., Cove Smart LLC, Frontpoint Security Solutions LLC, Godrej and Boyce Manufacturing Co. Ltd., Guardian Protection Services Inc., Honeywell International Inc., Link Interactive, Monitronics International Inc., Nice SpA, NRG Energy Inc., Ring LLC, Robert Bosch Stiftung GmbH, SimpliSafe Inc., Smith Thompson Home Security, and Vector Security Inc. –  Download Sample Report

Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and Y-O-Y Growth of Burglar alarm systems market

Burglar Alarm Systems Market – Segmentation Assessment

The market is segmented by type (wireless alarm system and wired alarm system), end-user (residential, commercial, and industrial), and geography (North America, Europe, APAC, South America, and Middle East and Africa)

• The wireless alarm system segment will account for a significant share of market growth during the forecast period. This system is typically equipped with motion detectors and door/window sensors and uses frequencies much lower than the standard 2.4GHz used for WiFi. Furthermore, B. High protection, low installation cost, and easy upgrade are some of the functions which are offered by the wireless alarm system. Wireless alarm systems are growing in popularity due to their adaptability, ease of use, and ease of installation which reduces installation costs. Hence, such benefits are expected to drive segment growth during the forecast period.

• North America is estimated to contribute 44% to the growth of the market during the forecast period. Rapid penetration of intruder alarm systems has been a key factor in the market growth in the region. The US, Canada, and Mexico are the major contributors to market growth in the region. Additionally, the region has a well-developed network infrastructure that ensures seamless connectivity between video surveillance components. Thus, these factors are expected to drive the growth of the burglar alarm systems market in the region during the forecast period.

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Burglar Alarm Systems Market- Market Dynamics

Key Driver

The growing adoption of smart homes is a key factor driving market growth. Smart home adoption is on the rise due to the growing need for security features such as digital security and secure homes. Furthermore, these devices are used in surveillance, automotive products, testing, gas and fire detection, and other commercial imaging applications. Advances in technology have increased the use of IoT at home. Consumers are using Intrusion detection to automate their homes. Hence, the increasing adoption of smart homes is expected to drive market growth during the forecast period.

Major Trends

The increasing advances in sensor technologies are a major trend in the market. The most important factors influencing the deployment of alarm systems are advances in sensor technology and wireless technology with video surveillance and intrusion detection. In addition, Radar, microwaves, fiber optics, and 2D lasers are some of the technologies leading to advances in alarm systems. Thus, the increasing advances in sensor technologies are expected to drive the growth of the burglar alarm systems market during the forecast period.

Significant Challenges

The increasing instances of false alarms are one of the significant challenges restricting market growth. Improper evaluation can affect the response of the alarm device. For example, due to a high false alarm rate, many operators may not respond to true alarm conditions. This can lead to customer dissatisfaction and impact the company’s profit margins. The main drawback of false alarms is that customers cannot fully trust their devices. Companies are trying to address this challenge by using two-way communication and double-validation features to filter false positives. Hence, increasing instances of false alarms are expected to restrict market growth during the forecast period.

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What are the key data covered in this Burglar Alarm Systems Market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the burglar alarm systems market between 2023 and 2027.

• Precise estimation of the size of the burglar alarm systems market and its contribution to the market with a focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the burglar alarm systems market across North America, Europe, APAC, South America, and the Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about companies

• Comprehensive analysis of factors that will challenge the growth of burglar alarm systems market companies.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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