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What’s Driving The Gunshot Detection System Market Size?| Key Players are Raytheon Company, ShotSpotter Inc., Tracer Technology Systems, Inc., Safran Electronics Defense SAS

07-03-2019 09:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Research

Gunshot Detection System Market

Gunshot Detection System Market

Global Gunshot Detection System Market report 2025 focuses on the major Types and Applications for the key players. The study report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The market research report is a professional and in-depth study on the current state of global industry.

The gunshot detection system market share based on installation can be bifurcated into fixed, portable, and vehicle mounted systems. The growing demand for portable gunshot detection systems can be attributed to the benefits offered including lower cost, and flexibility in operating across diversified conditions. Moreover, the incorporation of IoT along with solar technologies for improving system efficiency and performance are further expected to boost the segment share.

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Multiple cities across the globe are focusing on mandatory installation of gunshot detection systems for minimizing the rates of murders and crimes and improve the nation safety. For instance, in 2019, Columbus government and police announced the expansion of its gunshot detection systems to Linden

Based on product, the gunshot detection system market share is segmented into indoor and outdoor. The outdoor segment is expected to contribute significantly in the market size. This can be attributed to the rising cases of gunfire in public places significantly. For instance, in 2017, a gunman opened fire at an open country music concert killing around 58 and injuring over 850 people. Moreover, easier installation of these systems on pillars, walls, poles, streetlights, and buildings among others are further expected to expand the segment share.

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Technological advancements in sensors and equipment used for gunshot detection systems are positively influencing the gunshot detection system market over the projected timeframe. Industry players are actively exploiting technologies that contribute towards improving system efficiency and minimizes the signal transmission time. For instance, in 2019, the Council for Scientific and Industrial Research (CSIR) unveiled an optical-based missile and gunshot detection system, that uses infrared camera with proprietary optical sensors for carrying out operations.

Few of the prominent players in the gunshot detection system market share include Raytheon Company, ShotSpotter Inc., Tracer Technology Systems, Inc., Safran Electronics and Defense SAS. Industry players are engaged in securing long term contracts from government organizations for improving their market share. For instance, in 2018, ShotSpotter Inc. and the Chicago government signed a multi-year agreement for extending its gunshot detection coverage worth at USD 23 million.

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North America is expected to hold a significant share in the gunshot detection system market. This can be credited to the rising cases of crimes and murders across the region. Moreover, stringent regulatory policies and schemes mandating the installation of such systems are further expanding the segment size. For instance, in 2019, multiple organizations including Toyota, Constellation Brands, and Allergan PLC are incorporating gunshot detection systems in their offices and plants, thereby providing a positive outlook for the market expansion.

Gunshot Detection System Market is estimated to grow at a double digit CAGR to 2025 driven by rising cases of gun-firing in public areas along with proliferating crime rates across the globe. Increasing cases of homicide death rates along with easier accessibility to weapons and guns accentuates the installation of such systems globally.

The gunshot detection system market share based on installation can be bifurcated into fixed, portable, and vehicle mounted systems. The growing demand for portable gunshot detection systems can be attributed to the benefits offered including lower cost, and flexibility in operating across diversified conditions. Moreover, the incorporation of IoT along with solar technologies for improving system efficiency and performance are further expected to boost the segment share.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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