Burglar Alarm System Market Size is Expected to total US$ 6,945.7 Million by 2030
According to the Market Statsville Group (MSG), the global burglar alarm system market size is expected to grow from USD 3,974.1 million in 2021 to USD 6,945.7 million by 2030, at a CAGR of 6.4% from 2022 to 2030. The market is expected to grow as a result of increasing demand for security systems in both the residential and commercial sectors, increased awareness of their advantages, the proliferation of smart home technologies and rising interest in connected homes, an increase in international crime rates, and strict government regulations pertaining to safety and security.
Global Burglar Alarm System Market Definition
A burglar alarm system is a security system used to detect theft or burglary. Burglar alarm systems are installed in a home or business to alert the residents and authorities of a break-in attempt or success. The most common sort of burglar alarm system use sensors to detect when a door or window is opened, which sets off an alert. Burglar alarm systems are utilized for various purposes, including residential, commercial, industrial, and military applications. It's a system that includes one or more sensors, a control unit, and an alarm bell, buzzer, or other auditory warning devices to alert users to an uninvited entry.
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COVID-19 Impact on the Global Burglar Alarm System Market
In the year 2020, amid the covid-19 pandemic, the alarm sector experienced a moderate demand worldwide. The domestic market has been identified as a prospective security system user. Alarm security systems have become more popular due to new business models, the presence of internet giants, and changing customer tastes.
Scope of the Global Burglar Alarm System Market
The study categorizes the burglar alarm system market based on type, component, and application at the regional and global levels.
By Type (Sales, USD Million, 2017-2030)
- Wireless Alarm System
- Wired Alarm System
By Component (Sales, USD Million, 2017-2030)
- Hardware
- Central Monitoring Receiver
- Remote Terminal Unit
- Alarm Sensors
- Motion Detection Sensors
- Door/ Window Sensors
- Software
- Services
By Application (Sales, USD Million, 2017-2030)
- Commercial
- Industrial
- Residential
- Military
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By Region (Sales, USD Million, 2017-2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
Commercial segment is projected to account for the largest market share by application
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In 2021, the commercial segment accounted for the largest market share in the global burglar alarm system market. The growth can be associated with increased demand for security from government agencies, hospitals, educational institutions, corporate offices, malls, and retail establishments. Wireless alarm systems are popular in commercial buildings as they provide flexibility, mobility, and installation convenience.
APAC accounts for the highest CAGR during the forecast period
Globally, APAC is estimated to hold the highest CAGR in the global burglar alarm system market during the forecast period. Due to increased investments by market participants and growing consumer awareness of such items, Asia Pacific is projected to witness the fastest-growing region. Furthermore, an increase in the number of construction projects, particularly commercial ones, is expected to fuel growth over the forecast period, as these projects necessitate high-security measures such as burglar alarm systems for protection from intruders such as thieves and burglars who may cause significant damage or loss during their intrusion into premises protected by an alarm system installed thereon (vandalism).
Key Market Players in the Global Burglar Alarm System Market
The global burglar alarm system market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
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Major players in the global burglar alarm system market are:
- ADT
- ASSA ABLOY
- Banham
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International, Inc
- Inovonics Wireless Corporation
- Johnson Controls
- Securitas AB
- Siemens
- Risco Group
BROWSE RELATED REPORTS
https://marketstatsvillegroup.blogspot.com/2022/11/digital-utility-market-is-expected-to.html
https://www.xaphyr.com/blogs/180431/Digital-Utility-Market-is-Expected-to-Reach-US-579-3
https://plaza.rakuten.co.jp/marketstatsville/diary/202211240000/
https://linkgeanie.com/news/digital-utility-market-is-expected-to-reach-us--579-3-bn-by-year-2030
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