The global burglar alarm systems market was anticipated to be worth US$ 5.5 billion in 2021, with a projected value of US$ 5.9 billion by 2022. The market is expected to be worth US$ 11.8 billion by 2032, with a CAGR of 7.2% from 2022 to 2032. The market’s rise can be ascribed to rising utility in residential and commercial buildings, as well as the adoption of new technologies such as AI and Big data to improve security services in various emerging countries.
Furthermore, wireless burglar alarms are an important feature enhancing the industry during the assessment era. The increasing use of these Burglar Alarm Systems in large buildings where physical security is difficult and inefficient, these systems increase sets the alarms in case of any movement and alerts the concerned person or authority. As a result of the skyrocketing infrastructure growth, the need for these alerting systems is increasing rapidly.
However, false alerts caused by inaccuracy in sound detection systems have created unhappiness in the minds of people, which is anticipated to hamper the expansion of global burglary alarm systems in the coming years.
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Key Takeaways from the Market Study
- Burglar alarm systems for residential applications to account for 55% revenue share
- Wired alarm systems accounted for over 3/5th market revenue as of 2021
- The North American market is expected to secure US$ 6.8 Billion while expanding at a CAGR of 7%
- Asia Pacific to experience noteworthy growth, anticipated to reach almost US$ 2 Billion by the end of the 2022-2032 forecast period
- Global burglar alarm systems market value to experience 2x growth from 2022-2032
“With the advent of artificial intelligence, security services providers are adding extra shield of protection against burglary in residential and commercial buildings. Key players are making new inventions in the alarming software and hardware to make it more impenetrable”
Competitive Landscape
Key players in the global Burglar Alarm Systems market include ADT, ASSA ABLOY, Banham, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International, Inc, Inovonics Wireless Corporation, Johnson Controls, Securitas AB, Siemens, Risco Group, Napco Security Technologies, Inc. Some of the recent key developments among the players are:
- In March 2022, ASSA ABLOY, the global leader in access solutions, will be exhibiting its latest innovations when the company debuts its exciting new booth at ISC West. With emerging security issues due to the ongoing health, economic, and social crises, ASSA ABLOY’s primary focus will be on helping attendees identify new opportunities for improving health, safety, and access at their facilities.
- In Sept 2022, Honeywell International, Inc., announced the release of Pro-Watch® Integrated Security Suite, a software platform designed to help protect people and property, optimize productivity and ensure compliance with industry regulations. The platform provides complete visibility of all connected systems and the scalability of the software makes it easy to grow with the changing needs of a business.
More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the global Burglar Alarm Systems market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on type (wireless and wired), component (hardware, software and services) and application (commercial & industrial and residential) & across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Covered In The Burglar Alarm Systems Industry Survey
Burglar Alarm Systems by Type:
- Wireless Burglar Alarm Systems
- Wired Burglar Alarm Systems
Burglar Alarm Systems Market by Component:
- Burglar Alarm Systems Hardware
- Burglar Alarm Systems Software
- Burglar Alarm Systems Services
Burglar Alarm Systems Market by Application:
- Burglar Alarm Systems for Commercial & Industrial Applications
- Burglar Alarm Systems for Residential Applications
Burglar Alarm Systems Market by Region:
- North America Burglar Alarm Systems Market
- Latin America Burglar Alarm Systems Market
- Europe Burglar Alarm Systems Market
- Asia Pacific Burglar Alarm Systems Market
- Middle East & Africa Burglar Alarm Systems Market
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