Global Burglar Alarm Systems Market Worth USD 7.09 Billion With a CAGR of 6.71%

Introduction

The Global Burglar Alarm Systems Market was valued at USD 3.95 billion in 2021 and is predicted to reach at USD 7.09 billion by 2030, increasing at a CAGR of 6.71% from 2022 to 2030.

Market Dynamics 

Global Burglar Alarm Systems Market: Drivers

• Security Anxiety Is a Major Factor

Rising safety and security concerns, appealing insurance coverage, and the popularity of smart homes drive the burglar alarm system sector. Even if you live in a crime-free region, you could be burgled. Installing monitored safety and security devices might cut homeowner's insurance by up to 20%.

According to 2020 FBI research, a burglary occurs every 15 seconds in the US. Homes without security systems are three times more likely to be burglarized. Smart home business increasing due to rising demand for burglar alarms. These systems ensure safety and security, control entertainment, multimedia, lighting, and thermostats. These systems fuel the worldwide burglar alarm market.

• DIY Home Security Systems Drive Market

 DIY home security systems fuel the global burglar alarm market due to their low cost, ease of installation, and smartphone-enabled control. The US uses home security systems more than any other country in North America. The reduced cost of these devices compared to professional security systems will fuel future market growth. DIY security solutions will assist non-traditional security companies expand alarm system penetration.

Contactless biometric technologies are likely to gain popularity due to the pandemic and the requirement for remote video surveillance. Rapid IoT network expansion is also predicted to create growth prospects.

Global Burglar Alarm Systems Market: Key Future Opportunities

• Innovative Motion Detectors Unlock New Opportunities

In contrast to maximum security systems that primarily focus on motion detection or other sensing (such as door and window contacts), high-tech and non-visual sensors have been introduced in recent years. These include radar, microphones, and glass break detectors. These include radar and sound detection.

Similarly, audio sensors linked with CCTV cameras have improved the audio detection capabilities of these systems, increasing the value of home security systems. These sensors use powerful processing technologies and unique algorithms to distinguish pre-defined sounds like shattered glass, gunfire, and loud Behaviour. In the near future, this will expand the burglar alarm market.

Regional Overview

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa make up the Global Burglar Alarm Systems Market.

North America's market share was over 45% in 2021. The market research breaks North America into the U.S., Canada, and Mexico. Mergers and acquisitions are how market participants expand in the region. ASSA ABLOY bought Spectrum Brands in 2021. Spectrum Brands specializes in home improvement and hardware. Spectrum Brands sells home security products. U.S.-based.

Asia Pacific's real estate and IT sectors are expected to stimulate demand for intelligent alarm systems. India, Japan, Singapore, and others have exhibited a growing demand for home security systems and services, which is expected to expand the market in the area. The government's publishing of security legislation and standards will boost the Asia-Pacific industry. China's technology breakthroughs could increase its market share.

European burglar alarm manufacturers are influential. These businesses produce technologically superior alarm systems to attract commercial offices and residential areas. High-quality security entry systems, meant to deter actual and potential theft, are widely used in the region, driving the burglar alarm systems sector.

Key Highlights

• The Global Burglar Alarm Systems Marketwas valued at USD 3.95 billion in 2021 and is predicted to reach at USD 7.09 billion by 2030, increasing at a CAGR of 6.71% from 2022 to 2030.
• By Type,the Global Burglar Alarm Systems Market is segmented into Wireless and Wired. With a market share of more than 67% in 2021, the wired alarm segment was the most popular.
• By Component,the Global Burglar Alarm Systems Market is segmented into Hardware, Software, and Services. In 2021, the hardware sector held a commanding market share of more than 69%.
• By Application,the Global Burglar Alarm Systems Market is segmented into Commercial & Industrial and Residential. More than 58% of the market share in 2021 will go to residential applications.
• By Region or Geography,the Global Burglar Alarm Systems Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America had a revenue share of more than 45 percent.

Competitive Players

Major Players

List of major competitor companies in the Burglar Alarm Sy stems Market across the globe are:

1. ASSA ABLOY
2. Banham
3. ADT
4. Johnson Controls
5. Hangzhou Hikvision Digital Technology Co., Ltd.
6. Napco Security Technologies, Inc.
7. Securitas AB
8. Siemens
9. Risco Group
10. Honeywell International, Inc
11. Inovonics Wireless Corporation
12. AEON SYSTEMS, INC.
13. Bosch GmbH
14. Tyco Integrated Security

Recent Developments

Recent Developments

• May 2022 -Johnson Controls, a leader in smart, healthy, and sustainable buildings, will open an OpenBlue Innovation Center in its Cork, Ireland, HQ. The OpenBlue Innovation Center in Cork strives to build a future-ready built environment for local and worldwide clients. It's part of an international network of OpenBlue Innovation Centers that pioneer smart, healthy, and sustainable environments.

• March 2022 - ASSA ABLOY, a global pioneer in access solutions, had launched its innovative new booth at ISC West in March 2022 to showcase its latest innovations. ASSA ABLOY's primary focus will be on helping delegates find new opportunities for improving health, safety, and accessibility at their facilities in light of rising security challenges as a result of the ongoing health, economic, and social crises.

Segmentation

Global Burglar Alarm Systems Market: Segmentation

By Type

• Wireless
• Wired

By Component

• Hardware
  • Central Monitoring Receiver
  • Remote Terminal Unit
  • Alarm Sensors
  • Motion Detection Sensors
  • Door/Windows Sensors
• Software
• Services

By Application

• Commercial & Industrial
• Residential

By Geography

• North America
• Europe
• Asia Pacific (APAC)
• Latin America
• Middle East and Africa (MEA)