- Popularity of smart homes and adoption of smartphones and smart devices is driving the market.
- Policy discounts for installing security alarms is likely to entice customers.
- The latest burglar alarms are Wi-Fi based instead of relying on Bluetooth.
The global Burglar Alarm Market is anticipated to expand at a 5.8% CAGR from 2018 to 2023 (forecast period), according to the latest report by Market Research Future (MRFR). Burglar alarms are devices designed to enforce and safeguard the security of homes and industrial properties. It can detect unwarranted intrusion or trespassing of personnel and prevent theft.
The Burglar Alarm market is expected to accrue good returns over the forecast period thanks to popularity of smart homes and adoption of smartphones and smart devices. The ability to get warnings regarding intrusions on the smartphone via a mobile phone application is anticipated to increase alarm adoption.
In addition, policy discounts for installing security alarms is likely to entice customers in the long run. However, false alarms can pose a challenge to the market. But this can change soon with the Federal Communications Commission (FCC) outlining new guidelines to prevent false alarms. To avoid the recent debacle of Hawaii’s false missile alert, the FCC has changed the alert system which requires two people to send out alerts or warnings.
Some of the key players in the Burglar Alarm Market include Inovonics Wireless Corporation (U.S.), Siemens AG (Germany), Aeon Systems Inc. (U.S.), Assa Abloy Group (Sweden), Johnson Controls (U.S.), Napco Security Technologies (U.S.), Securitas AB (Sweden), Interlogix (U.S.), Hangzhou Hikvision Digital Technology Co. Ltd. (China), Honeywell International Inc. (U.S.), ADT LLC dba ADT Security Services (U.S.), Banham Group (U.K.), and RISCO Group (U.K.). These players are offering wired and wireless solutions to attract a wider range of consumers.
The global Burglar Alarm Market is segmented by system & hardware, end-user, and region. System & hardware discussed in the report include central monitoring receiver, remote terminal unit, and alarm sensors. The alarm sensor segment is further segmented into door/window sensors and motion detector sensors.
End-users in the market include residential and small & medium enterprises. Increasing demand for heightened security levels in residential complexes, industrial complexes, and commercial buildings is bound to increase the applications of burglar alarms.
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The segments covered in the report are analyzed with respect to four major regions – North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW), with respective country-level market sizing. The definition and advantages of “burglar alarm” are outlined in the report for a comprehensive understanding of the market. The report discusses in detail the various players and their respective strategies to enhance their value chain.
Mobile and smartphone application-based burglar alarm systems are gaining traction owing to its demand in walled and gated communities. A spike in crimes has caused concern among residents and caused a surge in purchase of security solutions. Owners can get alerts in case of any trespassing noticed within the premises or surroundings.
The latest burglar alarms are Wi-Fi based instead of relying on Bluetooth. Furthermore, it can provide no indication to guests and make them uncomfortable in unknown settings. Such systems can be deployed easily with minimum capital investment and long-time benefits for the customer.
The global Burglar Alarm Project Report covers the latest trends and upgrades of security solutions in Europe, Asia Pacific (APAC), North America, and the Rest-of-the-World (RoW).
The North America market is touted to experience heavy demand owing to the need in residential and industrial buildings. Stringent government policies and advances in technology are expected to expedite the regional growth over the forecast period. Adoption of high security technology to safeguard valuable data and emphasis on critical infrastructure protection are other factors likely to augur market demand.
The APAC Burglar Alarm Market is predicted to experience a robust growth rate during the forecast period owing to a sharp rise witnessed in infrastructural projects. The urgency of economies such as India and China to establish themselves on a global platform by building smart cities and being a safe place for tourism is likely to drive market growth. Japan accounted for nearly $188.17 million in 2017. Its growth can expand at a 7.8% CAGR during the forecast period.