Overview and Scope
Intruder alarm systems refer to security devices designed to detect unlawful entrance or infiltration into a premises or building. These systems use a variety of sensors, detectors, and control panels to notify property owners or authorities of potential dangers. It is used to safeguard residential, commercial, industrial, and institutional properties against unauthorized entry by alerting the property owners, occupants, or security personnel.
Sizing and Forecast
The intruder alarm system market size has grown rapidly in recent years. It will grow from $2.23 billion in 2023 to $2.46 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to growth in wireless and connected security solutions, growth in the popularity of remote monitoring services, growth in the number of security systems, growth in the prevalence of mobile-based security applications, and increased urbanization.
The intruder alarm system market size is expected to see rapid growth in the next few years. It will grow to $3.67 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to rising smart home adoption, rising demand for IoT-enabled security devices, growing consumer awareness about security solutions, growing adoption of cloud-based security solutions, and increasing focus on cybersecurity. Major trends in the forecast period include biometric technologies, video security systems, adoption of cloud-based security, artificial intelligence, adoption of DIY home security installations, and technological advancements.
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Segmentation & Regional Insights
The intruder alarm system market covered in this report is segmented –
1) By Type: Wired Alarm System, Wireless Alarm System, Hybrid Alarm System
2) By Component: Hardware, Software, Services
3) By Application: Residential, Commercial And Industrial
North America was the largest region in the intruder alarm system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intruder alarm system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing crime rates are expected to propel the growth of the intruder alarm system market going forward. Crime rates are referred to as the frequency or incidence of criminal activity within a certain geographical area or population during a specified period. The increasing crime rates are attributed to several factors, such as economic instability, social unrest, and gang activity. Intruder alarm systems contribute significantly to crime reduction by offering deterrence through their presence, ensuring prompt notification to authorities or specified contacts in the event of a breach, and enabling monitoring capabilities to collect evidence of ongoing invasions. For instance, in October 2023, according to the Office for National Statistics, a UK-based government department, the police recorded a 4% increase in crime in England and Wales for the year ending June 2023 compared to the previous year. This uptick brought the total number of recorded crimes to 6.7 million, up from 6.5 million in the year ending June 2022. Therefore, the increasing crime rates are driving the growth of the intruder alarm system market.
Key Industry Players
Major companies operating in the intruder alarm system market are Honeywell International Inc., Johnson Controls International plc, Securitas AB, Hangzhou Hikvision Digital Technology Co. Ltd., Assa Abloy Group, ADT Inc., Godrej & Boyce Mfg. Co. Ltd, Robert Bosch GmbH, Vivint Smart Home Inc., Nortek Security & Control LLC, UTC Fire & Security Americas Corporation Inc., Stanley Black & Decker Inc. , SimpliSafe Inc., Godrej & Boyce Mfg. Co. Ltd, Napco Security Technologies Inc., Visonic Ltd., RISCO Group, Frontpoint Security Solutions LLC, DSC (Digital Security Controls), AlarmForce Industries Inc., Banham Patent Locks Limited , Pyronix Limited
The intruder alarm system market report table of contents includes:
1. Executive Summary
- Intruder Alarm System Market Characteristics
- Intruder Alarm System Market Trends And Strategies
- Intruder Alarm System Market – Macro Economic Scenario
- Global Intruder Alarm System Market Size and Growth
.
- Global Intruder Alarm System Market Competitive Benchmarking
- Global Intruder Alarm System Market Competitive Dashboard
- Key Mergers And Acquisitions In The Intruder Alarm System Market
- Intruder Alarm System Market Future Outlook and Potential Analysis
- Appendix
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