Burglar Alarm Systems Market Share, Development by Companies Outlook, Growth Prospects and Key Opportunities by 2032

 

The global burglar alarm systems market was estimated at US$ 5.5 Billion in 2021 and is projected to procure US$ 5.9 Billion by 2022. The market is anticipated to garner US$ 11.8 Billion by 2032 while recording a CAGR of 7.2% during the forecast period from 2022 to 2032.

Expansion of the market can be attributed to the increasing utility in residential and commercial buildings and the adoption of advanced technologies like AI & Big data to enhance security services across various developing countries.

Moreover, wireless burglar alarms are another salient factor augmenting the industry in the assessment period. The growing usage of these Burglar Alarm Systems in huge buildings where it is very difficult and inefficient to provide security by physical mode, these system increases sets the alarms in case of any movement and alerts the concerned person or authority. Thereby, with the soaring infrastructural growth, the demand for these alarming systems is increasing vigorously.

However, the false alarms triggered by the inaccuracy of systems to catch sounds have created discontent in the minds of people which is likely to impede the growth of the global burglary alarm systems in the forthcoming period.

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

 

Click For More Info : https://www.futuremarketinsights.com/reports/burglar-alarm-systems-market

 

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