Press release
Alarm Systems And Equipment Global Market Expected to Witness $6.97 Billion with Impressive Growth at a 4.7% CAGR By 2028 | Siemens AG, Assa Abloy AB, ADT Inc., Allegion PLC, Vector Security Inc.
Alarm Systems And Equipment Market Size
Alarm Systems And Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $6.97 billion In 2028 At A CAGR Of 4.7% :
The alarm systems and equipment market size has grown steadily in recent years. It will grow from $5.58 billion in 2023 to $5.79 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to security concerns and crime rates, regulatory standards and compliance, urbanization and population growth, insurance industry influence, industry competition and market expansion.
The alarm systems and equipment market size is expected to see steady growth in the next few years. It will grow to $6.97 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to market competition and innovation, emergence of diy solutions, environmental sustainability, data privacy and cybersecurity, urban development and expansion. Major trends in the forecast period include enhanced emergency response, predictive analytics, voice control integration, wireless technology advancements, energy efficiency focus, mobile app integration.
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Alarm Systems And Equipment Market Major Segments
The alarm systems and equipment market covered in this report is segmented -
1) By Communication Technology: Wired Telecommunication Network, Cellular Wireless Network, Wireless Radio Network, IP Network
2) By Offering: System Hardware, Solutions
3) By End-User: Residential , Commercial, Industrial
Key Driver - Safety Concerns Drive Alarm System And Equipment Market
The alarm system and equipment market is driven by increasing investments driven by safety and security concerns among households. Consumers are more focused on security than before, mostly in residential areas with an increase in crime rates. Smart home devices such as smart alarms and related equipment are being preferred by households to be more safe and secure. As reported by home burglary statistics, homes without security systems are 300% more likely to be vulnerable to burglary. According to the Insurance Information Institute In 2022, 1,001,967 vehicles were stolen in the US, which is a 7% increase from 2021 which emphasizes the future potential for the alarm system, and equipment.
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Prominent Trend - Wireless Fire Detection Protocols Gain Popularity In Alarm System Market
Companies in the alarm system and equipment market are increasingly investing in wireless protocols for fire detection. Fire safety systems find applicability at homes, many government offices, private offices, public places. Alarm system and equipment are primarily designed to warn occupants of trouble, so they can safely leave the premises. For instance, a wireless technology, ZigBee developed by Zigbee Alliance has gained attention for its application in fire early detection. Some of the key companies are manufacturing home alarm systems including Honeywell International, Inc., Bosch Security Systems, Alarm.com, ADT Corp., and Nortek Security & Control.
Alarm Systems And Equipment Market Players
Major companies operating in the alarm systems and equipment market report are Monitronics International Inc., Robert Bosch GmbH, Siemens AG, United Technologies Corporation, Chubb Fire & Security Ltd., Burg-Wächter KG, Schneider Electric SE, Honeywell International Inc., Johnson Controls International plc, Carrier Global Corporation, UTC Fire & Security Americas Corporation Inc., Stanley Black & Decker Inc., Securitas AB, Hikvision Digital Technology Co., Assa Abloy AB, ADT Inc., Allegion plc, Godrej & Boyce Manufacturing Company Limited, Vivint Smart Home Inc., Axis Communications AB, Alarm.com Holding Inc., Dahua Technology Co. Ltd., Vector Security Inc., Vanderbilt Holding Company Inc., Nortek Security & Control LLC, Brivo Inc., Bosch Security Systems Inc., RISCO Group NV, Qolsys Inc., Hanwha Techwin Co. Ltd., FLIR Systems Ltd., Gunnebo AB, Tyco International Ltd.
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Largest And Fastest Growing Region In The Market
The Asia-Pacific was the largest region in the alarm systems and equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global alarm systems and equipment market report during the forecast period. The regions covered in the alarm systems and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Alarm Systems And Equipment Market Report Structure
3. Alarm Systems And Equipment Market Trends And Strategies
4. Alarm Systems And Equipment Market - Macro Economic Scenario
5. Alarm Systems And Equipment Market Size And Growth
…..
27. Alarm Systems And Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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