Overview
Advanced security systems do have burglar alarms. Market Research Future (MRFR) has published a research report about the global burglar alarm market that reckons boost for this market at 5.8% CAGR (Compound Annual Growth Rate) between 2018 and 2023. By value, the market is to be worth the US $ 4.9 bn by the end of the forecast period.
Analyzing the market structure, this report gauges the future growth potential of the market. It monitors the plans of the key players in the market and supports the competitive developments like joint ventures, new product developments, mergers & acquisitions, research and developments (R&D) in the market.
The important factors driving the global burglar alarm market growth include the popularity of smart homes and adoption of smartphones as well as smart devices. Other factors contributing to the market growth include the ability to get warnings regarding intrusions on the smartphone via a mobile phone application, and policy discounts for installing security alarms. However, false alarms can pose a challenge to the market.
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Key Players
The key players in the global Burglar Alarm Market include ADT Security Services (USA), Aeon Systems Inc. (USA), Assa Abloy Group (Sweden), Banham Group (UK), Hangzhou Hikvision Digital Technology Co. Ltd. (China), Honeywell International Inc. (USA), Inovonics Wireless Corporation (USA), Interlogix (USA), Johnson Controls (USA), Napco Security Technologies (USA), RISCO Group (UK), Securitas AB (Sweden), and Siemens AG (Germany).
Segments
The global burglar alarm market has been segmented on the basis of end-user, system & hardware, and lastly, region. Based on end-user, this market has been segmented into residential and small & medium enterprises (SMEs). Increasing demand for advanced security levels in residential complexes, industrial complexes, and commercial buildings is creating a need for burglar alarms. The system & hardware segment covers alarm sensors, central monitoring receiver, and the remote terminal unit. The alarm sensor segment has been sub-segmented into door/window sensors and motion detector sensors. During the forecast period, the alarm sensor segment is expected to dominate the global market. This segment is expected to grow at 6.8% CAGR due to the extensive usage of burglar alarms in commercial, industrial, military, and residential complexes.
The regional segmentation of the global burglar alarm market segments the market into the regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW). North America is the most important regional market due to the need for burglar alarms in residential and industrial buildings. Major factors contributing to the market growth in this region include stringent government policies, technological advancement, the adoption of high-security technology to safeguard valuable data, and emphasis on critical infrastructure protection. In this region, the vital country-specific markets are the USA, Canada, and Mexico.
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Regional Analysis
Europe is the second major market due to the technological advancement that is second only to North America. In this region, the critical country-specific markets are France, Germany, Italy, and the UK, followed by the remaining countries of Europe.
During the forecast period, the Asia Pacific regional market is expected to grow rapidly due to a sharp rise witnessed in infrastructural projects in countries like China and India. The number of smart cities is rising in both countries. The market in Japan is expected to grow at 7.8% CAGR during the forecast period, and its worth has been estimated to be the US $ 188.17 mn. Another crucial country-specific market in this region is South Korea, followed by the remaining countries of the Asia Pacific region.
Latest Industry News
• Hook Police have urged residents to install burglar alarms in their houses. 23 FEB 2019
• Hikvision has released the latest range of intrusion alarm solutions that can be integrated via iVMS to its entire video portfolio. 1 OCT 2018
LIST OF TABLES
TABLE 1 MARKET SYNOPSIS
TABLE 2 LIST OF ASSUMPTIONS
TABLE 3 GLOBAL BURGLAR ALARM MARKET, BY SYSTEM & HARDWARE, 2016-2023 (USD MILLION)
TABLE 4 GLOBAL BURGLAR ALARM MARKET, BY ALARM SENSORS, 2016-2023 (USD MILLION)
TABLE 5 GLOBAL BURGLAR ALARM MARKET, BYEND-USER, 2016-2023 (USD MILLION)
Continued……
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LIST OF FIGURES
FIGURE 1 GLOBAL BURGLAR ALARM MARKET: MARKET STRUCTURE 16
FIGURE 2 RESEARCH PROCESS OF MRFR 18
FIGURE 3 TOP DOWN & BOTTOM UP APPROACH 21
FIGURE 4 DROC ANALYSIS OF GLOBAL BURGLAR ALARM MARKET 23
FIGURE 5 DRIVERS IMPACT ANALYSIS: GLOBAL BURGLAR ALARM MARKET 25
Continued…….
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