Burglar Alarm Systems Market

Market Overview

The Global Burglar Alarm Systems Market Size 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. End-use industries are confronted with a number of significant challenges, chief among them being crime and insecurity. These days, burglar alarm systems are frequently installed in homes and businesses in order to reduce the likelihood of unauthorised access. Users of a building can utilise intrusion alarm systems to detect and monitor any unauthorised individuals that enter the building.

The occurrence is communicated to the user via sound and visual alarms as well as telephone messages when a burglar alarm is installed. Burglar alarms are frequently connected to a signal-receiving centre that is remotely monitored. At this centre, skilled operators are able to evaluate the situation and respond appropriately. Wire-based and wireless intruder alarms are the two primary categories of burglar alarms. While wired burglar alarms are more reliable, wireless burglar alarms offer a simpler installation process. Wired burglar alarms have a reliability advantage. Over the past few years, there has been a rise in the installation of burglar alarms as a result of both technological progress and heightened awareness surrounding issues of personal security.

Microwave sensors, which are motion detection devices that flood a specific area or zone with an electronic field, are one example of the alarm sensor technologies that have evolved over the years. In addition, some of the technologies that are employed in intruder alarms include capacitance sensors, audio sensors, vibration sensors, photoelectric beam sensors, and electrical field sensors.

Market Dynamics

Global Burglar Alarm Systems Market Drivers

• Growing Anxiety About Safety and Security Is a Major Factor

Rising worries about safety and security, attractive insurance coverage for installing these security systems, and the increasing popularity of smart homes are driving the burglar alarm system industry. Despite the fact that you live in a seemingly crime-free area, there is always a chance of burglary. However, on average, the homeowner's insurance rate can be reduced by up to 20% by installing monitored safety and security equipment in the property.

In the United States, a burglary takes place every 15 seconds, according to a 2020 study from the FBI. More than three times as many burglaries occur in homes without security systems than in those with security systems. Because of the rising demand for burglar alarms, the smart home market is booming. Systems such as these are critical to ensuring safety and security, controlling entertainment, multimedia and lighting as well as thermostats and thermostats. These systems are necessary and act as a key driver for the global burglar alarm market.

• The Development of DIY Home Security Systems Is Propelling the Market

Because of its low cost, ease of installation, and smartphone-enabled control; DIY home security systems have fueled the worldwide burglar alarm systems market. One of the leading countries in North America to make extensive use of home security systems is the United States.

The lower cost of these systems compared to professional security systems is expected to fuel market expansion in the future decade. Additionally, the ease of DIY security systems will help non-traditional security service providers increase the total penetration rate of households with alarm systems.

As a result of the pandemic and the increased need for video surveillance solutions for remote monitoring operations, contactless biometric systems are expected to expand in popularity. The rapid expansion of the IoT network is also expected to generate a pool of growth opportunities during the forecast period.

Global Burglar Alarm Systems Market Restraints

• The Growing Number of Incidents Involving False Alarms

The rising number of false alerts that can occur as a result of inaccuracies in risk assessment poses the most significant obstacle to the expansion of the worldwide burglar alarm software market. It is possible that the operator will not react to real warning conditions because of these false alerts. In most cases, a hiccup in the application's programming is to blame for false alarms. This is especially the case when the sensor is unable to properly interpret an object that is getting close to the perimeter. This not only relates to unhappy customers, but it also has the potential to lead to further fraudulent acts, as well as the misuse and loss of sensitive information pertaining to customers.

Global Burglar Alarm Systems Market Key Future Opportunities

• The Creation of Cutting-Edge Motion Detectors to Unlock New Opportunities

In contrast to maximum security systems, which only concentrate on motion detection or on other types of sensing (such as door and window contacts), recent years have seen the introduction of innovative forms of high-tech and non-visual sensors onto the market. These include anything from radar to more advanced sound detection technology like microphones and advanced glass break detector systems. These include everything from radar to more advanced sound detection technologies.

In a similar vein, the incorporation of audio sensors that are coupled with CCTV cameras has resulted in the enhancement of the audio detection capabilities of these systems, which has led to an increase in the usefulness of home security systems. These sensors make use of sophisticated processing technology and innovative algorithms, and as a result, they are now able to listen for and identify specific, pre-defined sounds, such as broken glass, gunfire, and loud behavior. In the not-too-distant future, this will create new opportunities for the expansion of burglar alarm market.

Regional Analysis

The Global Burglar Alarm Systems Market is segmented by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

In 2021, North America held a dominant position in the market with a revenue share that was greater than 45 percent. In the market analysis, North America is broken down into its component countries, which are the United States of America, Canada, and Mexico. Mergers and acquisitions are the primary means by which market participants are extending their footprints across the region. For example, ASSA ABLOY purchased Spectrum Brands, Inc. in September 2021. Spectrum Brands is a company that specialises in hardware and home renovation. Spectrum Brands, Inc. is a firm that offers various residential security products. It is situated in the United States. It is anticipated that the acquisition will broaden ASSA ABLOY's product line and bolster the company's standing in the residential market within the region.

It is projected that demand for intelligent alarm systems will be driven by significant growth in real estate and information technology sectors across the Asia Pacific region. In recent years, nations such as India, Japan, Singapore, and others have shown an increasing demand for home security solutions and services, which is projected to contribute to the expansion of the market throughout the region. In addition, the government's publication of a number of security regulations and standards will serve to bolster the market throughout the Asia Pacific region. It is anticipated that China's technological advances would add to the country's large market share.

There is a significant amount of influence exerted by burglar alarm system manufacturers in Europe. These manufacturers are primarily concerned with the production of technologically advanced alarm systems in order to attract a wide variety of commercial office spaces and residential townships. One of the most important factors propelling the burglar alarm systems sector in the region is the widespread use of high-quality security entry systems, which are designed to deter both actual and potential instances of theft. It is anticipated that there would be an increase in demand for digital solutions in the domestic market that are based on alarm monitoring as a consequence of the Covid-19 outbreak. It is anticipated that the market for burglar alarm systems in the MEA area will grow as a result of the rising demand coming from the commercial and retail sectors.

Segmental Analysis

The Global Burglar Alarm Systems Market is divided into different segments according to the Type, Component, Application, and Region (Geography).

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. Wireless intruder alarms are more popular than wired intruder alarms, yet wired intruder alarms are easier to set up. Intruder alarms have become more popular in recent years as a result of technology improvements and worries about safety. Other intruder alarm systems include electrical field, vibration, audio and capacitance sensors.

More protective features, reduced prices, and easier upgrades are all advantages of wireless commercial security systems over wired systems. It was in October 2021 that Inovonics Wireless announced the release of a mobile duress, which is expected to provide accurate interior room and floor-level location when an Inovonics Pendant is triggered. It was built on the Inovonics cloud platform, which provides reliable hardware and a wide range of API and software features for data access and integration.

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%. Hardware-wise, alarm sensors hold the most sway in the market. Customers are expected to prioritize wireless security solutions as the market shifts toward cloud-based security systems. As an example, RISCO Group, a cloud-based security system provider, received ISO 27001 accreditation for cloud and interactive services related to security, smart home solutions and building management in April 2022. That the organization has made considerable investments to protect customer data and privacy from cyber-attacks is recognized by this certification.

Providers of burglar alarm systems are prioritizing the development of innovative new technology. It incorporates AI and IoT to provide end customers with comprehensive alarm solutions. Security software is expected to see an increase in demand as key participants in the market work to integrate wireless system alternatives and remote monitoring tools with burglar alarm systems. In addition, burglar alarm systems necessitate a wide range of specialized products, such as sensors, network systems, and alarm systems supported by by-product service providers.

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. At home and at work, more and more people are installing burglar alarms. It's likely that banking, health care, and education are the most vulnerable sectors. Several product standards have been released by various organisations in order to provide effective alarm systems. Underwriters Laboratories, for example, issued the UL 634 Level 2 standard in 2007 to help high-end security installations select sensors that give the ultimate best level of intrusion detection.

Burglars may be drawn to commercial premises because of their high traffic and high crime rates. Its safety is also influenced by the surrounding surroundings, since other firms have taken security precautions. When it comes to protecting large spaces, commercial intruder alarm systems tend to be more advanced and broader. The facility is protected by numerous security measures, including video surveillance cameras and access cards.

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. In the market analysis, North America is broken down into the United States, Canada, and Mexico. Smart alarm systems are expected to be in high demand because to the rapid growth of the real estate and information technology sectors in Asia Pacific. Alarm system manufacturers in Europe have a major influence since they produce highly advanced alarm systems to attract a wide range of commercial office buildings and residential communities.

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.