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.
The Burglar Alarm Systems Market is experiencing significant growth driven by several key factors. One major driver is the rise of DIY home security systems, which offer affordability, easy installation, and smartphone compatibility. North America, particularly the United States, is leading the adoption of these systems.
The affordability of DIY options compared to professional security services is a major factor fueling market expansion. Moreover, the flexibility inherent in DIY systems is expected to enable non-traditional security providers to increase the overall number of homes equipped with alarm systems in the coming decade.
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Moreover, wireless burglar alarms are another salient factor augmenting the industry in the assessment period. With 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 systems increase set the alarms in case of any movement and alert 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.
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.
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