Global Burglar Alarm Market is projected to grow at a CAGR of 9.4% during the forecast period: MRFR

Market Research Future (MRFR) will be publishing a cooked research report onthe “Global Burglar Alarm Market” that contains the information from 2023-2032.

The Burglar Alarm Market is predicted to reach USD 9985.5 million by 2032, registering a 9.4% CAGR during the forecast period, 2024–2032. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the next few years. Attractive insurance policy for installing security systems and Growing popularity of smart homes, are some of the factors driving the growth of the Burglar Alarm market.

The growing popularity of smart homes has positively impacted the growth of the burglar alarms market. The need for technology, convenience, and efficiency in everyday household functions remains paramount as homeowners strive to safeguard their properties and loved ones. Consider integrating smart technologies whether the user is a new homeowner or an existing homeowner upgrading your security solution. These systems are important and play a vital role in safety and security, controlling entertainment systems, multimedia, lighting, and temperature, as well as, thermostats, and much more. The appliances that are a part of the concept of smart homes have a connection established through the internet and are controlled by devices like smartphones or any similarly connected network device. The household sector is one of the emerging markets for smart home kits, all because of the emerging concept of the internet of things (IoT).

The smart home device market has been growing considerably in recent years. The market comes inclusive of product variety. Once, the customers plan to incorporate the products like lightning controllers at their homes, they will expose themselves to a promising technology that is related to in-built connectivity of data. Consumers can integrate the automated systems both with the help of wired as well as wireless technologies. The controllers being produced in the present day have direct operations without the need for any external connections.

Segmental Analysis

The scope of the global Burglar Alarm market has been segmented based on system & hardware and end user.

Based on System & Hardware, the global Burglar Alarm market is segmented into Remote Terminal Unit, Alarm Sensors, and Central Monitoring Receiver. The Alarm Sensors segment captured the biggest market share by solution in 2022 and is likely to maintain its dominance in the future years.

Based on end user, the global Burglar Alarm market is segmented into Residential and Small and Medium Enterprises (SME). The Residential segment captured the biggest market share by solution in 2021 and is likely to maintain its dominance in the future years.

Regional Analysis

Geographically, the global Burglar Alarm market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

North America dominated the global Burglar Alarm market with a share of 34% of the total market in 2022. North America is one of the most advanced regions across the globe in terms of infrastructure, economy, and technology. For this study, the region has been further divided into the US, Canada, and Mexico. The growing demand for security infrastructure and premises within industries, offices, and homes is propelling the growth of the North American Burglar Alarm market. Moreover, the existing infrastructure and presence of the major players who work closely with the key safety industry standard-setting groups and trade associations in the region provide North America with ample opportunities for significant growth in the forecast period. The key players in the market are constantly introducing more innovative and productive burglar alarm solutions in the market at a reduced cost.

The rising security concerns, the boom in the real estate sector, growing adoption of smart building technologies are among the key factors that have generated market demand for burglar alarms in the region. Furthermore, the easy availability of low-cost burglar alarms, rise in urbanization, and increase in disposable income also propel the burglar alarm market in Asia-Pacific. Zhejiang Dahua Technology Co., Ltd, Hikvision, Ajax System, DSX Access System, and Fujian Chuango security technology co., LTD. are among the key players operating in the Asia-Pacific burglar alarm market.

The market for Burglar Alarms in Europe is expected to witness a significant growth during the forecast period. The key factors driving the burglar alarm market in the region are the adoption of high-quality security access systems to prevent intruders, potential theft, and other similar acts, the need to refurbish existing alarm systems with the latest technologies, and the growing smart building market in the region.

Key Players

Some of the prime market players profiled by MRFR that are operating in the global Burglar Alarm market are ADT Inc, Securitas AB, Hangzhou Hikvision Digital Technology Co. Ltd, Vivint Smart Homes Inc, Johnson Controls, Banham Group, Godrej & Boyce Manufacturing Co. Ltd, Inovonics Wireless Corporation, Napco Security Technologies Inc, Ring, Adobe Systems Inc, Frontpoint Security, Brinks Home, Simplisafe Inc., Risco Group, and others. The players in the global Burglar Alarm market are undertaking various strategic initiatives such as increased investments for business expansion, carrying out mergers and acquisitions and others in order to sustain the competition in the global Burglar Alarm market.