The global burglar alarm systems market was estimated at US$ 5.5 Billion in 2021 and is projected to procure US$ 5.9 Billion by 2022. The market is anticipated to garner US$ 11.8 Billion by 2032 while recording a CAGR of 7.2% during the forecast period from 2022 to 2032.
Expansion of the market can be attributed to the increasing utility in residential and commercial buildings and the adoption of advanced technologies like AI & Big data to enhance security services across various developing countries.
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Moreover, wireless burglar alarms are another salient factor augmenting the industry in the assessment period. The growing usage of these Burglar Alarm Systems in huge buildings where it is very difficult and inefficient to provide security by physical mode, these system increases sets the alarms in case of any movement and alerts the concerned person or authority. Thereby, with the soaring infrastructural growth, the demand for these alarming systems is increasing vigorously.
However, the false alarms triggered by the inaccuracy of systems to catch sounds have created discontent in the minds of people which is likely to impede the growth of the global burglary alarm systems in the forthcoming period.
Key Takeaways from the Market Study
- Burglar alarm systems for residential applications to account for 55% of revenue share
- Wired alarm systems accounted for over 3/5th of market revenue as of 2021
- The North American market is expected to secure US$ 6.8 Billion while expanding at a CAGR of 7%
- Asia Pacific to experience noteworthy growth, anticipated to reach almost US$ 2 Billion by the end of the 2022-2032 forecast period
- Global burglar alarm systems market value to experience 2x growth from 2022-2032
Competitive Landscape :
Key players in the global Burglar Alarm Systems market include ADT, ASSA ABLOY, Banham, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc, Inovonics Wireless Corporation, Johnson Controls, Securitas AB, Siemens, Risco Group, Napco Security Technologies, Inc. Some of the recent key developments among the players are:
- In March 2022, ASSA ABLOY, the global leader in access solutions, will be exhibiting its latest innovations when the company debuts its exciting new booth at ISC West. With emerging security issues due to the ongoing health, economic, and social crises, ASSA ABLOY’s primary focus will be on helping attendees identify new opportunities for improving health, safety, and access at their facilities.
- In Sept 2022, Honeywell International, Inc., announced the release of Pro-Watch® Integrated Security Suite, a software platform designed to help protect people and property, optimize productivity and ensure compliance with industry regulations. The platform provides complete visibility of all connected systems and the scalability of the software makes it easy to grow with the changing needs of a business.
Leading Key Players:
- ADT
- ASSA ABLOY
- Banham
- Hikvision
- Honeywell International Inc.
- Inovonics Wireless Corporation
- Johnson Controls
- Napco Security Technologies Inc.
- RISCO Group
- Securitas AB
- Siemens
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Burglar Alarm Systems Market Segmentation:
By Type:
- Wireless Burglar Alarm Systems
- Wired Burglar Alarm Systems
By Component:
- Burglar Alarm Systems Hardware
- Burglar Alarm Systems Software
- Burglar Alarm Systems Services
By Application:
- Burglar Alarm Systems for Commercial & Industrial Applications
- Burglar Alarm Systems for Residential Applications
By Region:
- North America Burglar Alarm Systems Market
- Latin America Burglar Alarm Systems Market
- Europe Burglar Alarm Systems Market
- Asia Pacific Burglar Alarm Systems Market
- Middle East & Africa Burglar Alarm Systems Market
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