ID: MRFR/ICT/4903-CR | September 2018 | Region: Global | 108 pages
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 deisgned 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 spike up the adoption of alarms. In addition, policy discounts for installing security alarms is likely to entice customers in the long run. But 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 require two people to send out alerts or warnings.
The report covers the latest trends affecting the market to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts can make highly astute projections. MRFR’s report includes a thorough analysis of the global burglar alarm market segmented by system & hardware, end-user, and region. Trends and opportunities are highlighted coupled with the market share of companies as well as their valuation in the market. It analyzes new revenue sources for players and outlines the various strategies implemented by players.
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.
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.
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 report offers comprehensive profiles on security alarm solution providers and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are discussed in granular detail.
At MRFR, our research analysts conduct a thorough objective analysis of the market when creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top-level decision makers of various leading companies in the relevant market combined with secondary research provides a thorough analysis of past and present trends in a forward-looking manner. Additionally, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the demand and supply-side. Credible resources are employed to assist analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.
For the scope of research, the report offers a comprehensive analysis of the global burglar alarm market.
System & Hardware
Frequently Asked Questions (FAQ) :
MRFR expects the market to achieve a growth rate of 5.8% in the coming years.
The market holds the potential to touch a valuation of USD 4.9 Bn by 2023.
The well-known industry participants are Assa Abloy Group (Sweden), ADT LLC dba ADT Security Services (U.S.), RISCO Group (U.K.), Interlogix (U.S.), Banham Group (U.K.), Honeywell International Inc. (U.S.), Siemens AG (Germany), Johnson Controls (U.S.), Aeon Systems Inc. (U.S.), Inovonics Wireless Corporation (U.S.), Securitas AB (Sweden), Napco Security Technologies (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), to name a few.
Product launches, mergers and acquisitions as well as partnerships are the major strategies employed by the top companies.
The APAC burglar alarm market is all set to note robust growth in the following years, on account of the sharp increase in the number of infrastructural projects and smart cities.
Burglar alarms refer to the devices that help safeguard the security of industrial and residential properties. These devices help detect any kind of unwarranted intrusion and also helps prevent theft.
Amplified demand for better security levels in industrial complexes, commercial buildings and residential complexes, are boosting the applications of burglar alarms.
Global Burglar Alarm Market – Summary
A fine-life is well-defined by the peace of mind one attains upon living it. However, intrusion into that life can destabilize the solace long craved by the people accustomed to such a lifestyle. Hence, the need for a gadget that can prevent trespassing and assure the owner of the building or the commercial property of its security. The global burglar alarm market can grow with an impressive 5.8% to reach a staggering USD 4.9 billion during the forecast period (2018-2023).
Insurance companies are turning the market into a lucrative one whereupon installation of such gadgets to protect the property will assist owners in benefitting much. At the same time, security system brands are also having tie-ups with insurance companies to promote their own products and consumers are taking advantage of it. A method where both the parties are gaining by selling a common product to consumers, these tie-ups become even more alluring with insurance companies offering discounts. Sometimes, even claims do depend heavily on the standard of the security gadgets.
Fine-life turns finer when proper investments are made for gadgets that considerably increases the comfort level associated with the lifestyle. With rising disposable income, this type of lifestyle has become a trend that many want to adopt. Smart homes are a perfect solution that is preferred by both buyers and sellers. Other sophisticated products such as Amazon Alexa or Google Assistant are now making this lifestyle more viable which has remarkably lifted up the market for burglar alarm market.
However, a probability of false alarms can put a rein on the market where growth. False alarms can defer necessary services for a significant time which can adversely impact the real-time situations. Instead of safety, that can lead to more damage. But this can be averted with the assistance of technical expertise and can never hold back the market for long.
By software & hardware, the market can be segmented into remote terminal unit, alarm sensor, and central monitoring receiver. Alarm sensor segment is dominating the market by a considerable margin and is expecting the fastest CAGR to grow with during the forecast period. From a valuation of USD 1431.9 million, it can climb up to USD 2161.2 million in the same period. Residential, commercial, industrial and military segments are generating the demand for the product owing to which a CAGR of 6.8% the product can expect.
Based on end-users, the market can be segmented into small and medium enterprises (SME) and residential. A 6.3% rise from the present highest segmental market valuation of USD 2197.6 million to USD 3223.3 million is anticipated to ensure the market superiority. An ever-increasing number of filed criminal activities have also affirmatively spurred the business.
On the basis of global activity, the market comprises regions such as North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW).
The technological superiority of the region and integrated gadget-friendly system in various residential projects lure in huge number of people seeking for better living conditions boosting the real estate sector in North America further. These factors are proving vital for the region as the associated market such as burglar alarm is also making the most of it. The US generated the highest revenue of USD 872.3 million in 2017 and its projected 4.1% CAGR during the forecast period can ensure its position at the crest. With 47% share of the global market, North America promises an escalation of almost 5.1% CAGR during the review period.
Europe, for the same reasons, as that of North America is holding a significant hold over the market and is currently assuming the second spot. The U.K. has the most profitable market where the valuation peaked to USD 245.3 million in 2017. However, the market is gaining traction in Germany so much so that the regional market can attain the fastest CAGR of 8.4% during the review period. USD 1,270.8 million seems to be quite easily achievable for the region during the same period.
Countries of the APAC can have a knock-down effect on the global market. The region can anticipate the fastest CAGR of 7.7% during the assessment period and go up to as high as USD 1,023.6 million.
The market is showing some promises as its expanding horizon is also engulfing latest technologies such as the introduction of wireless systems that can reduce the power consumption and increase aesthetics. These wireless systems allow much more flexibility to the users in having these operations continued. A market opportunity which is yet to be tapped to the fullest.
Key players included in the study for burglar alarm market research study are Banham Group(UK), ADT LLC dba ADT Security Services (US), Johnson Controls(US), Hangzhou Hikvision Digital Technology Co., Ltd(China), Securitas AB(Sweden), RISCO Group(UK), Inovonics Wireless Corporation(US), Interlogix (US), Napco Security Technologies(US), AG(Germany), Honeywell International Inc.(US), Assa Abloy Group(Sweden), Aeon Systems Inc. (US), and others.
Growing popularity of smart homes and attractive insurance policy for installing security systems is driving the burglar alarm market creating a highly competitive landscape.
The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, vendors are focusing on research & development, product expansion and are improving operational efficiency to maintain their strong presence in the competitive market. Johnson Controls, Honeywell International, Assa Abloy AB, Securitas AB, and ADT LLC are major companies in the market which compete in terms of security standards, overall service suite, quality, price, and reliability.
Johnson Controls aims at designing productive, secure, and sustainable products for customers. The company also believes in supporting growth and increasing customers’ expectations by producing more sustainable products and services. Johnson Controls focuses on improving operational efficiency, lowering costs and reducing the environmental hazard caused from operations and supply chain. It also strives to expand engagements with stakeholders with respect to the environmental concerns.
Honeywell International Inc. is another prominent player that held a 12% market share in 2016. Honeywell, a leader in products, software, and technologies for connected buildings and homes, announced that its Xtralis VCA suite of security software is available for licensing by third parties. Honeywell international primarily follows an organic growth strategy, under which, it focuses on innovation, as well as expanding its product portfolio, building a strong market presence in the competitive market. In its inorganic growth strategy, the company is focusing on tapping new geographical areas to increase its global presence and expand its customer base. Also, in collaboration with growing tech companies, Honeywell is increasing its capabilities and domain expertise in order to strengthen its product portfolio.
Assa Abloy is another prominent player that held a 10% market share in 2016. Assa Abloy acquired HKC, an Irish manufacturer of alarms and cloud-based monitoring solutions. HKC is expected to offer a comprehensive portfolio of wired and wireless alarm products as well as monitoring solutions to ASSA ABLOY offering in the Irish market. Assa Abloy AB core strategy is to be at the forefront of the increased security trends with customer-centric innovative product offerings. It aims to focus on the three strategic policies that include market presence, cost-efficiency, and product leadership. Acquisitions have become an important part of the strategy to enhance the company’s market presence. The company’s vision is to be the most innovative and successful provider of total door opening solutions and believes in achieving specific financial targets.