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The burglar alarm systems market is estimated to grow at a CAGR of 6.3% between 2022 and 2027, and the size of the market is forecasted to increase by USD 1,493.73 million. The growth of the market depends on several factors, including the growing adoption of smart homes, the increase in demand for burglar alarms to monitor children, and the premiumization of burglar alarm systems.
This report extensively covers market segmentation by type (wireless alarm system and wired alarm system), end-user (residential, commercial, and industrial), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our analysis of the adoption life cycle of the market covers various stages, from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Burglar Alarm Systems Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year. Key drivers, trends, and challenges for the market have also been added to this report, which will help companies refine marketing strategies to gain a competitive advantage.
The growing adoption of smart homes is driving market growth. The adoption of smart homes is rising, owing to the increasing need for security features such as digital security and secured homes. The applications of intruder detection devices are increasing in commercial as well as residential sectors. These devices use surveillance, automotive products, testing, gas and fire detection, and other commercial vision applications.
Advances in technology have increased the use of loT in homes. Intruder detection is used in home automation. Moreover, the revenue generation by original equipment manufacturers (OEMs) of consumer electronic devices is expected to grow significantly during the forecast period, with the adoption of intruder detection devices in production processes. The motion sensing circuit, temperature and humidity sensing circuit, door lock sensing circuit, smoke or gas sensing circuit, and light on/off circuit are connected to intruder detection devices. Thus, the growing adoption of smart homes will fuel the growth of the global burglar alarm systems market during the forecast period.
The increasing advances in sensor technologies are a crucial trend shaping the market. Advances in sensor technologies and wireless technologies with video surveillance and intruder detection are the major factors affecting the adoption of alarm systems. Various technologies, such as long-range passive IR detectors, will increase the demand for intruder alarms. Vendors are developing sensor technologies based on the characteristics such as complexity of installation, distances, types of coverage, cost of commissioning/ownership, and configurability
Some of the technologies that will lead to advances in alarm systems during the forecast period include radar, microwave, fiber optics, and 2D laser. Radar technology determines the accurate size of the object. Microwave devices can detect any object in their line of sight and are used for distance monitoring. Fiber optics technology determines changes in light property based on the obstacles between the transmitter and receiver. 2D laser measurement device uses laser beams to monitor areas and measure distance. Therefore, the increasing advances in sensor technologies will support the growth of the global burglar alarm systems market during the forecast period.
The increasing instances of false alarms are challenging market growth. Improper assessment may affect the response of alarm devices. For instance, the operator may not respond to genuine alarm conditions with a high rate of false alarms. This generally happens due to minor errors in application programs, especially when the sensor cannot read the object nearing the boundary. This can lead to customer dissatisfaction, which affects the revenue of vendors.
False acceptance can also occur when intruder detection incorrectly accepts an unauthorized user in rare instances. This, in turn, can lead to the misuse and loss of sensitive customer information, along with other fraudulent activities. A major drawback of false alarms is that the customer cannot completely rely on the device. Vendors are trying to address this challenge by filtering false alarms with the help of two-way communication and dual verification features. Thus, increasing instances of false alarms will impede the growth of the global burglar alarm systems market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak based on their quantitative data analysis.
The wireless alarm system segment will account for a significant share of market growth during the forecast period. This system typically comes with a motion detector and door/window sensor and uses frequencies much lower than the standard 2.4 GHz used for WiFi. It provides a wide range of features, such as advanced protection, low installation costs, and easy upgrades.
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The wireless alarm system segment was valued at USD 2,271.10 million in 2017 and continued to grow until 2021. The popularity of wireless alarm systems is rising owing to their adaptability and ease of use. They are easy to install, which lowers installation costs. Such benefits will positively impact the demand for wireless alarm systems, which will drive market growth. This, in turn, will drive the growth of the segment during the forecast period.
The commercial and industrial segment will also account for a significant share of market growth during the forecast period. Commercial burglar alarm systems are highly advanced and are generally designed to protect important areas such as commercial and industrial areas. These facilities use multiple layers of alarm systems, which include controlled access cards and video surveillance cameras. They are installed throughout facilities. Organizations have released several product standards to offer efficient burglar alarm systems. Such factors will drive the growth of the segment during the forecast period.
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North America is estimated to contribute 44% to the growth of the market during the forecast period. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
The US, Canada, and Mexico are the key revenue contributors to market growth in the region. The growth of the regional market is driven by factors such as the rapid adoption of burglar alarm systems. The high degree of product awareness in North America will also fuel market growth during the forecast period. The region has a developed network infrastructure, which ensures seamless connectivity between video surveillance components. These factors are expected to drive the growth of the burglar alarm systems market in the region during the forecast period.
In 2020, the outbreak of COVID-19 negatively impacted the burglar alarm systems market in North America due to disruptions in the supply chain, unavailability of raw materials, and closures of manufacturing plants. However, in 2021, vaccination drives conducted by governments led to the relaxation of lockdown restrictions, which led to the resumption of industrial operations. In addition, technological advances such as voice control, video analytics, and audio analytics encourage vendors to adopt new business strategies. Such factors are expected to drive the growth of the burglar alarm systems market in the region during the forecast period.
The burglar alarm systems market report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Burglar Alarm Systems Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.3% |
Market growth 2023-2027 |
USD 1,493.73 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.73 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 44% |
Key countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ackerman Security, ADT INC., Alarm.com Holdings Inc., Alphabet Inc., Bay Alarm Co., Comcast Corp., Cove Smart LLC, Frontpoint Security Solutions LLC, Godrej and Boyce Manufacturing Co. Ltd., Guardian Protection Services Inc., Honeywell International Inc., Link Interactive, Monitronics International Inc., Nice SpA, NRG Energy Inc., Ring LLC, Robert Bosch Stiftung GmbH, SimpliSafe Inc., Smith Thompson Home Security, and Vector Security Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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