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Intruder Alarm System Market Size Forecasted To Achieve $4.06 Billion By 2029 With Steady Growth
Intruder Alarm System Market
What Is the Intruder Alarm System Market Size and Projected Growth Rate?
The intruder alarm system market will expand from $2.46 billion in 2024 to $2.72 billion in 2025, at a CAGR of 10.7%. This growth is driven by the adoption of wireless and connected security systems, remote monitoring services, mobile-based security apps, and increased urbanization.
The intruder alarm system market is anticipated to witness significant growth in the coming years, expected to reach $4.06 billion by 2029 at a compound annual growth rate (CAGR) of 10.5%. This growth is primarily driven by the increasing adoption of smart homes, a rise in demand for IoT-enabled security solutions, growing consumer awareness about security, a shift towards cloud-based security platforms, and an intensified focus on cybersecurity. Key trends during the forecast period include the rise of biometric technologies, video security systems, cloud-based security adoption, artificial intelligence, DIY home security installations, and continual technological advancements.
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What Are the Major Segments in the Intruder Alarm System Market?
The intruder alarm system market covered in this report is segmented -
1) By Type: Wired Alarm System, Wireless Alarm System, Hybrid Alarm System
2) By Component: Hardware, Software, Services
3) By Application: Residential, Commercial And Industrial
Subsegments:
1) By Wired Alarm System: Hard-wired Alarm System, IP-based Wired Alarm System
2) By Wireless Alarm System: Cellular Wireless Alarm System, Wi-Fi Wireless Alarm System, Radio Frequency (RF) Wireless Alarm System
3) By Hybrid Alarm System: Hybrid Wired And Wireless System, Hybrid IP-based And Wireless System
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What Are The Driving Intruder Alarm System Market Evolution?
Rising crime rates are expected to drive the intruder alarm system market in the near future. Crime rate refers to the number of reported criminal acts within a particular area over a given time. Contributing factors include economic challenges, social instability, and gang-related activities. Intruder alarm systems deter potential criminals, alert authorities upon breaches, and support evidence gathering through surveillance features. According to the Office for National Statistics, a UK government agency, in October 2023, crime in England and Wales rose by 4% in the year ending June 2023 compared to the previous year, increasing from 6.5 million to 6.7 million recorded cases. Thus, increasing crime rates are boosting the demand for intruder alarm systems.
Which Firms Dominate The Intruder Alarm System Market Segments?
Major companies operating in the intruder alarm system market are Honeywell International Inc., Johnson Controls International plc, Securitas AB, Hangzhou Hikvision Digital Technology Co. Ltd., Assa Abloy Group, ADT Inc., Godrej & Boyce Mfg. Co. Ltd., Robert Bosch GmbH, Vivint Smart Home Inc., Nortek Security & Control LLC, UTC Fire & Security Americas Corporation Inc., Stanley Black & Decker Inc., SimpliSafe Inc., Godrej & Boyce Mfg. Co. Ltd., Napco Security Technologies Inc., Visonic Ltd., RISCO Group, Frontpoint Security Solutions LLC, DSC (Digital Security Controls), AlarmForce Industries Inc., Banham Patent Locks Limited, Pyronix Limited
What Trends Are Driving Growth in The Intruder Alarm System Market?
Leading entities in the intruder alarm system market such as Hangzhou Hikvision Digital Technology Co. Ltd. are concentrating on the creation of forward-looking offerings, including wireless alarm apparatus, to provide robust and reliable security solutions. These wireless alarm structures are designed to spot potential security breaches or emergencies and alert users through wireless communication methods. A prime example of this would be the AX HOME series wireless alarm system unveiled by the China-based firm Hangzhou Hikvision Digital Technology Co. Ltd. in April 2024. This easy-to-operate home security system operates with the open things access protocol, boosting integration with peripheral devices and ensuring straightforward deployment, scalability, secure two-way authentication, encrypted data and highly efficient transmission. Highlight features of the AX HOME series include its easy-to-navigate design, low maintenance costs, simple online and mobile app management, and easy installation. The control panel is an easily configured security solution, requiring only two simple user steps for activation.
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Which Is The Largest Region In The Intruder Alarm System Market?
North America was the largest region in the intruder alarm system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intruder alarm system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Intruder Alarm System Market?
2. What is the CAGR expected in the Intruder Alarm System Market?
3. What Are the Key Innovations Transforming the Intruder Alarm System Industry?
4. Which Region Is Leading the Intruder Alarm System Market?
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