According to the Market Statsville Group (MSG), the global burglar alarm system market size is expected to grow from USD 3,974.1 million in 2021 to USD 6,945.7 million by 2030, at a CAGR of 6.4% from 2022 to 2030. The market is expected to grow as a result of increasing demand for security systems in both the residential and commercial sectors, increased awareness of their advantages, the proliferation of smart home technologies and rising interest in connected homes, an increase in international crime rates, and strict government regulations pertaining to safety and security.
Global Burglar Alarm System Market Definition
A burglar alarm system is a security system used to detect theft or burglary. Burglar alarm systems are installed in a home or business to alert the residents and authorities of a break-in attempt or success. The most common sort of burglar alarm system use sensors to detect when a door or window is opened, which sets off an alert. Burglar alarm systems are utilized for various purposes, including residential, commercial, industrial, and military applications. It’s a system that includes one or more sensors, a control unit, and an alarm bell, buzzer, or other auditory warning devices to alert users to an uninvited entry.
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COVID-19 Impact on the Global Burglar Alarm System Market
In the year 2020, amid the covid-19 pandemic, the alarm sector experienced a moderate demand worldwide. The domestic market has been identified as a prospective security system user. Alarm security systems have become more popular due to new business models, the presence of internet giants, and changing customer tastes.
Scope of the Global Burglar Alarm System Market
The study categorizes the burglar alarm system market based on type, component, and application at the regional and global levels.
By Type (Sales, USD Million, 2017-2030)
Wireless Alarm System
Wired Alarm System
By Component (Sales, USD Million, 2017-2030)
Hardware
Central Monitoring Receiver
Remote Terminal Unit
Alarm Sensors
Motion Detection Sensors
Door/ Window Sensors
Software
Services
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By Application (Sales, USD Million, 2017-2030)
Commercial
Industrial
Residential
Military
By Region (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
The Netherlands
Norway
Czech Republic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
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Commercial segment is projected to account for the largest market share by application
In 2021, the commercial segment accounted for the largest market share in the global burglar alarm system market. The growth can be associated with increased demand for security from government agencies, hospitals, educational institutions, corporate offices, malls, and retail establishments. Wireless alarm systems are popular in commercial buildings as they provide flexibility, mobility, and installation convenience.
APAC accounts for the highest CAGR during the forecast period
Globally, APAC is estimated to hold the highest CAGR in the global burglar alarm system market during the forecast period. Due to increased investments by market participants and growing consumer awareness of such items, Asia Pacific is projected to witness the fastest-growing region. Furthermore, an increase in the number of construction projects, particularly commercial ones, is expected to fuel growth over the forecast period, as these projects necessitate high-security measures such as burglar alarm systems for protection from intruders such as thieves and burglars who may cause significant damage or loss during their intrusion into premises protected by an alarm system installed thereon (vandalism).
Key Market Players in the Global Burglar Alarm System Market
The global burglar alarm system market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
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Major players in the global burglar alarm system market are:
ADT
ASSA ABLOY
Banham
Hangzhou Hikvision Digital Technology Co., Ltd.
Honeywell International, Inc
Inovonics Wireless Corporation
Johnson Controls
Securitas AB
Siemens
Risco Group