Major players in the alarm systems and equipment market are ADT, Moni, Honeywell, Securitas, UTC, Schneider, Johnson Controls, Vivint, Vector Security and Bosch.
The global alarm systems and equipment market is expected to grow from $22.51 billion in 2020 to $22.92 billion in 2021 at a compound annual growth rate (CAGR) of 1.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $25.43 billion in 2025 at a CAGR of 3%.
The alarm systems and equipment market consist of sales of alarm systems and equipment and related services for protection and security of residential or commercial building.Alarm systems and equipment are the devices that gives an audible, visual or other form of alarm signal about a problem or condition and can perform functions such as access control, lighting and heating control in homes or buildings.
The different types of alarm systems include door alarm, motion sensor alarm, glass break sensor, water alarm, and heat alarm.
The alarm system and equipment market is driven by increasing investments in smart homes which is driven by safety and security concerns among households.Consumers are more focusing on security than before, mostly in residential areas with an increase in crime rates.
Smart home devices such as smart alarms and related equipment is being preferred by the households to be more safe and secure.As reported by home burglary statistics of 2018, homes without security systems are 300% more likely to vulnerable to burglary.
According to the Metropolitan Police Department, homicide and motor vehicle theft rates have been increased by 22% and 49% in Washington D.C between 2019 and 2020, According to a CRS report published in 2018, violent crime and homicide rates have been increased by 7% and 21% respectively in the US from 2014 to 2016, which emphases the future potential for the alarm system, and equipment.
The inconvenience caused due to false alarms is expected to limit the growth of the alarm system and equipment market.False alarm is a common issue in any type of alarm system and can occur due to various reasons such as incorrect key pad codes, untrained authorized users, humidity or temperature change, cooking fumes, highly sensitive devices and others, thus hindering the growth of alarm systems and equipment market during the period.
False alarm causes unnecessary panic and brings resources such as emergency and police services to a place where they are not needed. According to a study by Building Research Establishment (BRE), in 2019, more than £1 billion ($1.11 billion) is lost every year due to false alarms.
The alarm systems and equipment market covered in this report is segmented by end-user into residential, commercial and industrial.
Companies in the alarm system and equipment market are increasingly investing in wireless protocols for fire detection.Fire safety systems find applicability at homes, many government offices, private offices, public places.
Alarm system and equipment are primarily designed to warn occupants of a trouble, so they can safely leave the premises.For instance, a wireless technology, ZigBee developed by Zigbee Alliance has gaining attentions for its application in the fire early detection.
Some of the key companies are manufacturing home alarm system including Honeywell International, Inc., Bosch Security Systems, Alarm.com, ADT Corp, and Nortek Security & Control.
On September 2019, Redwire, security specialists in Tallahassee, Florida, acquired American Alarm & Audio for an undisclosed amount.The acquisition will bring loyal customers to Redwire and also the company will be benefitted by American Alarm & Audio’s wide variety of security products and services for residential and commercial such as alarm systems, camera systems, home audio, structured wiring and central vacuum.
American Alarm & Audio is family owned and operated security company in headquartered in Florida, USA.
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