Major players in the alarm systems and equipment market are ADT, Moni, Honeywell, Securitas, UTC, Schneider, Johnson Controls, Vivint, Vector Security, Bosch, Vivint and Siemens AG.
The global alarm systems and equipment market is expected to grow from $5.11 billion in 2021 to $5.45 billion in 2022 at a compound annual growth rate (CAGR) of 6.8%.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 $7.06 billion in 2026 at a CAGR of 6.7%.
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 various types of communication technology for alarm systems and equipment are wired telecommunication network, cellular wireless network, wireless radio network, IP network.IP network is a communication network that uses Internet Protocol (IP) to send and receive messages between computers.
The alarm systems and equipment are offered as system hardware and solutions that are used by residential, commercial and industrial end users.
The regions covered in the alarm systems and equipment market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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, 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, in addition to this in U.S. the rate of aggravated assault rose nearly 12% between 2019 and 2020, and the overall violent crime rate in the U.S. also increased in 2020, by about 5%, 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.
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.
In December 2021, Securitas, security services, monitoring, consulting and investigation group, based in Stockholm, Sweden, acquired Supreme Security Systems, an alarm monitoring company in the US for approximately $20 million (SEK 180 million). The acquisition increased Securitas’ service capabilities and client offerings in the northeast US and aligns with Securitas’ ambition to double the size of its security solutions and electronic security business by 2023.
The countries covered in the alarm systems and equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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