Global Burglar Alarm Market Scope

Global Burglar-Alarm Market Size, Forecast, and Trend Highlights Over 2022 - 2031

The global burglar-alarm market is estimated to garner a revenue of USD 7 billion by the end of 2031 by growing at a CAGR of 6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 4 billion in the year 2021. The primary reason for the market growth is the rising demand for smart homes worldwide. It is estimated that over 10% of households worldwide have installed smart home devices. Similarly, smart home household penetration is estimated to exceed 20% by 2026.

GET A SAMPLE COPY OF THIS REPORT

By 2026, the number of active smart home users has been projected to amount to approximately 575 million. There are several reasons why people choose to have smart home devices. The foremost reason for users to own smart home devices is convenience, with more than 45% across all demographics choosing it as the reason. It has been estimated that more than 15% of users choose smart home technology for added protection and security. A burglar alarm is one of the most important smart home devices. A burglar alarm has a laser beam or light that needs to complete a circuit. But this beam is invisible to human eyes. When the electronic system detects a broken laser, it takes it as a circuit change and then sounds the alarm.

Global Burglar-Alarm Market: Growth Drivers and Challenges

Growth Drivers

• Growing Demand for Smart Security Systems - The importance given to smart security systems by owners of smart homes is another factor implying the growth of the global burglar-alarm market. It has been estimated that about 40% of Americans own some home security products. Of this, the majority, constituting about 18%, reported accommodating a doorbell, video camera, or both. Approximately 16% rely on a professionally monitored security system for homes. About 8% use self-monitored systems, while close to another 7% use smart locks. It has been estimated that about 40% of consumers of smart homes have fire/theft alarms as their top choice among protective devices. Thus, the increase in the adoption of smart security systems for homes opens several opportunities for the global burglar-alarm market.

• Rapid Growth of Artificial Intelligence (AI) – It has been observed that using AI in burglar alarms helps to filter false alarms caused by environmental factors from real emergencies. More than 90% of leading businesses invest in AI continuously. Thus, the growth of AI is another factor that affects the development of the global burglar-alarm market.

• Rapid Growth of the Internet of Things (IoT) – The application of IoT in smart home security systems enables users to manage and monitor the security of their homes from different places. IoT is developing day by day, and it is expected that there are to be more than 450 billion devices connected to the internet by 2030. Thus, the expansion in the application of IoT is a factor driving the growth of the global burglar-alarm market.

• Growing Concern About Burglary – Another inevitable factor creating opportunities for the global burglar-alarm market is the concern about burglary among the general population. For instance, in the United States, break-in is reported as the most feared property crime. It was estimated in 2020 that more than 55% feared someone breaking in when there was no one at home, while a similar percentage feared break-ins when sleeping.

• Attractive Insurance Policies Related to the Use of Smart Security Systems – Insurance policies encouraging the use of smart security systems is another factor creating opportunities for the global burglar-alarm market. It has been observed that by using smart security systems at home, users can pay insurance premiums about 19% less than the usual amount.

Challenges

• Increase in the Incidents of False Alarms

• High Cost Related to its Initial Installation and Maintenance

• Signal Interferences Triggering Alarms

The global burglar-alarm market is segmented and analyzed for demand and supply by application into commercial & industrial, and residential. Between these, the residential segment is anticipated to hold the largest market size by the end of 2031. Property crimes are estimated to occur every 4 minutes. Residential areas being quieter than industrial or commercial areas is the reason for the greater demand for burglar-alarm in the segment. Residential areas witness approximately 70% of burglary offenses. Further, the number of incidents of home break-ins was more than 1 million in 2019.

Global Burglar-Alarm Market Regional Synopsis

Regionally, the global burglar-alarm market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in the North American region is projected to hold the largest market share by the end of 2031. An alarming number of burglaries is the chief reason for such a significant market share in North America. For instance, it is estimated that annually, close to 3 million burglaries happen in the United States, of which more than 65% are home invasions. Another factor increasing opportunities for the burglar-alarm market in the region is the large number of adoptions of smart home automation by the citizens. As per the statistics, smart home automation in U.S. homes is estimated to be approximately 54% by 2023. The extensive adoption of smart homes has also resulted in greater demand for smart security systems. More than 55% of U.S. households acknowledge that they are comfortable with smart security devices.

Market Segmentation

Our in-depth analysis of the global burglar-alarm market includes the following segments:

Key Companies Dominating the Global Burglar-Alarm Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global burglar-alarm market that are included in our report are ADT LLC Dba ADT Security Services, Honeywell International Inc., Securitas AB, Banham Group, Johnson Controls, Hangzhou Hikvision Digital Technology Co., Ltd, RISCO Group, Inovonics Wireless Corporation, Napco Security Technologies, ASSA ABLOY Group, and others.

Global Burglar-Alarm Market: Latest Developments

• July, 2022: Securitas AB - announced the signing of an agreement to acquire Stanley Black & Decker Inc.'s Electronic Security Solution business. With this acquisition, Securitas AB expects to generate 50% of its profit generation through sales of higher-margin technology and solutions.

• April, 2022: ADT LLC Dba ADT Security Services - announced the introduction of new location-sharing features in SoSecure by the ADT mobile safety app. SMS chat, SOS slider button, video or handsfree with custom phrases even when the screen is locked, and more are unique features of this safety app.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

.