Global Burglar Alarm Market growing at a CAGR of 6.7% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Aug 2023
Key Market Overview
The burglar alarm market is poised for strong expansion and is expected to reach USD 6,877.60 million by 2030. The market was sized at USD 4,193.02 million in 2022 and is projected to grow at a compound annual growth rate of 6.7% during the period 2023-2030.
The report highlights the increasing adoption of burglar alarms owing to the increasing number of crime rates that raises the demand for burglar alarms to offer improved security. Consegic Business Intelligence provides an inclusive research report on the burglar alarm market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Burglar Alarm Market By Overview
Consegic Business Intelligence provided an inclusive research report on the burglar alarm market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. Wireless burglar alarms are anticipated to register the fastest CAGR in the upcoming years owing to the ability of wireless burglar alarms to offer flexibility in terms of installation and placement. Additionally, the integration of a wireless burglar alarm system with other smart home devices including cameras, providing a comprehensive security solution is further driving the market growth. Moreover, the improvements in battery life, connectivity, and functionality of wireless burglar alarms along with the integration with mobile apps and cloud-based monitoring, are contributing remarkably in driving the adoption of the alarms.
Get Free SampleMarket Dynamics
Driver:
- Rising adoption of burglar alarms owing to the increasing number of crime rates is propelling the market growth.
- Emergence of advanced technology including wireless connectivity and Internet of Things to offer improved security is accelerating the market growth.
- Increasing adoption of burglar alarms to safeguard valuable assets, equipment, and sensitive information in the industrial sector is driving market growth.
Restraints:
- High manufacturing and maintenance cost associated with burglar alarm is hindering the market growth.
- Production of frequent false alarms is hampering the growth of the burglar alarm market.
Market Segmentation:
| Report Attributes | Report Details |
| By Component | Hardware, Software, and Service |
| By Type | Wired and Wireless |
| By Sales Channel | Offline and Online |
| By End-User | Residential, Commercial, and Industrial |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for burglar alarm market is highly competitive with major players including Aeon Systems, Inc., Banham Group, Hangzhou Hikvision Digital Technology Co., Ltd., and Honeywell International Inc. that have a strong market position in current market circumstances. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the burglar alarm market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Aeon Systems, Inc.
- Banham Group
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International Inc.
- Aritech (Carrier Global Corporation)
- Johnson Controls (ADT)
- Napco Security Technologies, Inc.
- Securitas AB
- Security Focus
- Siemens AG