Dublin, 3 August 2023 (Globe Newswire) — “Burglar Alarm Systems Market Size, Share and Trend Analysis Report by Type (Wireless, Wired), By Component, By Application (Commercial & Industrial, Residential), By Region, and Segment Forecast, 2023-2030”) report added of ResearchAndMarkets.com Recruitment.
The global burglar alarm system market size is expected to reach USD 6.72 billion by 2030, registering a CAGR of 6.3% from 2023 to 2030.
The growing popularity of smart homes, including intelligent security systems, is expected to increase the demand for burglar alarm systems. Market players may adopt business strategies such as partnerships, mergers and acquisitions to gain more market share. For example, in January 2023, Pye-Barker Fire & Safety LLC acquired Bevan Security Systems, Inc., a provider of security and alarm services. The acquisition is intended to strengthen Pie-Barker’s alarm division and strengthen the services it provides in New Jersey.
Rising demand for high levels of security in apartment complexes, commercial buildings, and industrial parks is likely to boost the demand for the burglar alarm system market in the coming years. The market size is expected to expand due to the development of access control technology tailored to advanced analysis solutions.
For example, in April 2022, Johnson Controls acquired Security Enhancement Systems LLC, a provider of telephone-based keyless access control systems for critical infrastructure providers such as telecommunications towers. The acquisition enables Johnson Controls to efficiently provide data analytics and keyless access control to effectively protect high-value infrastructure.
North America is projected to hold a large market share due to rising property-related crimes. Asia-Pacific is expected to show the highest growth on the back of stringent regulations and safety standards announced by governments. China is expected to hold the largest share attributed to established security brands such as Shenzhen HORN security technology co, Ltd., Zhejiang Dahua Technology Co., Ltd. and Fujian Chuango security technology co., LTD. Players continue to innovate in security infrastructure, hardware and professional services.
Home security systems combine software and hardware sensors designed to detect intrusions or trespasses when a secure zone is breached. The burglar alarm system market is seeing companies prioritizing partnerships and collaborations with home security service providers to expand their product offerings and services.
- Assa Abloy
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International Inc.
- Innovonics Wireless Corporation
- Johnson Controls
- Napco Security Technologies Co., Ltd.
- Risco Group
- Securitas AB
Burglar Alarm Systems Market Report Highlights
- Security in the residential sector is estimated to see significant growth over the next few years.This growth can be attributed to theft protection
- The wireless alarm segment is expected to exhibit the highest CAGR during the forecast period. Wireless security cameras are becoming more and more popular due to their adaptability and ease of use. Installation costs are reduced as it is easy to install and eliminates the need for wiring and professional installation.
- The hardware components sub-segment led the burglar alarm system market in 2022.At the same time, motion detection sensors, which fall under the hardware sub-segment, are expected to exhibit the highest her CAGR during the forecast period.
- In 2022, North America will account for the highest revenue share. Security alarms installed in homes in North America must be registered with the police department. For example, the Oklahoma City Police Department does not investigate alarms generated by rogue security systems. In his 2021, the Oklahoma City Police Department launched an online system to make permit applications easier and faster.First year alarm permit costs $27, renewal costs $17
|number of pages||100|
|2022 Estimated Market Value (USD)||$4.16 billion|
|Projected market value (USD) to 2030||$6.72 billion|
|compound annual growth rate||6.3%|
Main topics covered:
Chapter 1 Methodology and Scope
Chapter 2 Abstract
Chapter 3 Market Variables, Trends and Ranges
3.1 Market Segmentation
3.2 Market definition
3.3 Market scope
3.4 Adoption and Growth Prospects Mapping, 2030
3.5 Market trends
3.5.1 Analysis of Market Drivers
18.104.22.168 Growing Demand for Improved Security Levels for Various Applications
22.214.171.124 Growing Demand for Remote Home Monitoring
126.96.36.199 Introduction of advanced technology in security systems
188.8.131.52 Insurance companies offer favorable policies for the installation of security systems
3.5.2 Market Restraint Analysis
184.108.40.206 High installation costs
3.6 Industry Analysis – Porters
3.7 Pest Analysis
3.8 Analysis of major deals and strategic alliances
3.8.1 Mergers, Acquisitions and Technical Alliances
3.9 Vendor Landscape Analysis (Prominent Market Players) – Ul 634 Level 1 and Level 2 Products/Solutions.
4 Burglar Alarm Systems Market: Type Estimation and Trend Analysis
5 Burglar Alarm Systems Market: Component Outlook
6 Burglar Alarm System Market: Application Outlook
7 Burglar Alarm Systems Market: Regional Outlook
Chapter 8 Competitive Environment
For more information on this report, please visit: https://www.researchandmarkets.com/r/inmbii
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