Burglar Alarm System Market, Is Expected to Grow at an Impressive Rate and Touch, COVID – 19 Outbreak, Global Segments by Forecast 2027
Market Scenario:
The global Burglar Alarm System Market is predicted
to touch USD 4.9 billion at a 5.8% CAGR between 2018- 2023 forecast period, as per
the recent Market Research Future (MRFR) analysis. Burglar alarms, simply put,
are devices that have been specially designed for enforcing and safeguarding
the security.
of industrial properties and homes. This can help
in detecting unwanted intrusion/trespassing of personnel & prevent
theft. Alarm sensor, remote terminal unit, and central monitoring receiver are
its different types of system and hardware. Owing to its alluring features and
plentiful benefits, burglar alarms have wide applications in residential and
small & medium enterprises. Various factors are propelling the global
burglar alarm market growth. According to the latest MRFR report, such factors
include the growing popularity of smart homes, increasing use of smart devices
and smartphones, and policy discounts to install security alarms. Additional
factors adding market growth include rising security concerns and increasing
disposable income. On the contrary, high installation &
implementation cost, false alarms and the impact of the current COVID-19
pandemic may limit the global burglar alarm market growth over the forecast
period.
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Eminent
players profiled in the global burglar alarm market report include Johnson
Controls (U.S.), Aeon Systems Inc. (U.S.), Siemens AG (Germany), Securitas AB
(Sweden), Napco Security Technologies (U.S.), Banham Group (U.K.), Assa Abloy
Group (Sweden), Inovonics Wireless Corporation (U.S.), RISCO Group (U.K.),
Interlogix (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China),
Honeywell International Inc. (U.S.), and ADT LLC dba ADT Security Services
(U.S.), among others. Industry players have incorporated strategies such as new
product launches, joint ventures and collaborations, extensive R&D, and
others.
Segmentation:
The
MRFR burglar alarm project report provides an inclusive segmental analysis of
the global burglar alarm market based on end user and system & amp;
hardware.
By
system and hardware, the global burglar alarm system market is segmented into
alarm sensor, remote terminal unit, and central monitoring receiver. The alarm
sensor segment is again segmented into door/window sensors and motion detector
sensors. This segment will lead the market over the forecast period for the
wide use of burglar alarms in commercial, military, industrial, and residential
complexes. It is likely to develop at a 6.8% CAGR.
By
end user, the global burglar system market is segmented into residential and
small & medium enterprises. Of these, the residential segment will
dominate the market over the forecast period for the increasing security
concerns following the rise in crime rates.
Regional Analysis:
Based on the region, the
global burglar alarm market report covers the growth opportunities and recent
trends across North America, Europe, the Asia Pacific (APAC), & the
Rest of the World (RoW).
Of these, North America
will lead the market over the forecast period. Surging need in industrial and residential
buildings, technological advances, strict government policies, focus on
critical infrastructure protection, and the use of high-security technology to
protect valuable data is adding to the global burglar alarm system market
growth in the region.
The global burglar alarm
market in the APAC region is predicted to grow at a fast pace over the forecast
period. Increasing use in infrastructural projects coupled with the urgency of
economies like China & India to establish themselves on the global
platform via building smart cities & being an immensely safe place for
tourism is adding to the global burglar alarm market growth in the region. It
is predicted to grow at a 7.8% CAGR.
The global burglar alarm
market in Europe is anticipated to have healthy growth during the forecast period,
and the market in the MEA is predicted to have sound growth over the forecast
period.
Industry News
The
global Burglar Alarm Project Report Trends has been affected due to the
lockdown across the regions. This pandemic situation has hampered the Burglar
Alarm Project Report Growth as well as its productivity, supply
chain, and others. Moreover, the global market has lost its investors due to
the increasing loss for the products, supply, transportation, workforce, and
others. However, in the meantime, the key market players have implied various
strategic techniques to boost global market growth. Thus, to meet the global
market demands, the global market increased its speed in producing more
valuable products for its intended customers. Recently, the global market has
stabilized its position in the global market and is expected to register a
higher Burglar Alarm Project Report Size for the forecast period.
Browse
Full Report Details @ https://www.marketresearchfuture.com/reports/burglar-alarm-market-6364
Table
of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market
Definition
2.2 Scope
of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets
Structure
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