New York, Aug. 22, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Burglar Alarm Market” published by Consegic Business Intelligence, the market was sized at USD 4,193.02 million in 2022 and is expected to reach over USD 6,877.60 million by the year 2030, growing at a CAGR of 6.7%.
A burglar alarm is a security system designed to protect properties from unauthorized entry and intrusion. The alarm consists of various sensors namely motion detectors, door/window contacts, and glass-break detectors, strategically placed around the premises. Moreover, upon triggering the sensors, the alarm system activates a loud audible siren and also sends alerts to the security monitoring center, to take appropriate action. The primary goal of a burglar alarm is to deter potential burglars, and alert occupants, and authorities to the intrusion, thus increasing the overall security of the residents.
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The increasing adoption of wireless burglar alarm systems in residential and commercial settings to offer improved security against burglars is driving the growth of the market. In addition, the ability of burglar alarms to provide real-time alarm notifications to security personnel or homeowners is further contributing to the market growth. Moreover, the emergence of advanced technologies including LED illumination to offer high-quality imaging in dark environments is also spurring market growth. For instance, in September 2022, Hangzhou Hikvision Digital Technology Co., Ltd. launched AX PRO, a new generation of wireless alarm systems for intrusion detection in residential and industrial sectors. The advanced burglar alarm system is equipped with LED illumination technology and sends real-time alarm notifications, hence contributing significantly in bolstering the market growth.
Moreover, the integration of burglar alarms with smart homes is projected to create potential opportunities for market growth. Smart home integration allows burglar alarm systems to connect with other smart devices, including cameras, motion sensors, door locks, and lights. The seamless connectivity enables users to control and monitor the security systems remotely through smartphones and tablets. However, the high manufacturing and maintenance cost of burglar alarm systems is restraining the market growth.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 6,877.60 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 6.7% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Aeon Systems, Inc., Banham Group, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell International Inc., Aritech (Carrier Global Corporation), Johnson Controls (ADT), Napco Security Technologies, Inc., Securitas AB, Security Focus, Siemens AG |
| By Component | Hardware, Software, and Service |
| By Type | Wired and Wireless |
| By Sales Channel | Offline and Online |
| By End-User | Residential, Commercial, and Industrial |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Burglar Alarm Market Growth Drivers:
- Rising adoption of burglar alarms owing to the increasing number of crime rates is propelling the market growth.
- Emergence of advanced technology including wireless connectivity and Internet of Things to offer improved security is accelerating the market growth.
- Increasing adoption of burglar alarms to safeguard valuable assets, equipment, and sensitive information in the industrial sector is driving market growth.
Restraints
- High manufacturing and maintenance cost associated with burglar alarm is hindering the market growth.
- Production of frequent false alarms is hampering the growth of the burglar alarm market.
Opportunities
- Integration of burglar alarms with smart homes is projected to create potential opportunities for market growth.
Global Burglar Alarm Market Segmentation Details:
Based on Component, the hardware segment contributed the largest shares to the market growth in 2022 as hardware-based systems are considered more secure standalone devices that do not rely heavily on external networks and cloud-based services. Additionally, the physical components of hardware systems including sensors, security panels, and alarms, act as deterrents for potential intruders. The visible presence of security equipment discourages burglars from attempting to break in, hence contributing notably to the dominance of the hardware segment.
Based on Type, the wired segment offered substantial shares to the market in the year 2022 as wired burglar alarms do not rely on signals that are susceptible to interference and hacking. Additionally, wired burglar alarms have a more secure physical connection, reducing the risk of signal disruption. Moreover, wired systems provide a stable and constant power supply, ensuring that the alarm is always operational as compared to wireless systems that rely on batteries and need to be monitored and replaced periodically. Furthermore, wired burglar alarms are suitable for larger properties and buildings as the alarms cover larger areas without signal degradation. In conclusion, the above-mentioned benefits offered by wired burglar alarms are collectively responsible in spurring the market growth.
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Based on Sales Channel, the offline segment holds the largest market share in 2022 owing to the extensive networks of physical stores, dealers, and distributors, providing offline stores a significant advantage in reaching customers. Additionally, offline sales channels provide physical assistance to customers, allowing sales representatives to understand the customer's needs better and provide personalized solutions. Moreover, consumers prefer to buy from well-known and trusted brands with a physical presence, which provides a sense of credibility and reliability. Furthermore, offline stores also maintain higher inventory levels, ensuring that the alarms are readily available for immediate purchase, hence contributing notably in fueling the growth of the offline segment.
Based on End-User, the residential segment offered substantial shares to the global burglar alarm market in the year 2022 owing to the increasing adoption of burglar alarms to deter burglars and intruders from attempting to break into a home. The presence of a visible alarm system, including security cameras, motion sensors, and alarm panels, acts as a strong deterrent to potential thieves. Additionally, burglar alarm provides an additional layer of security to homeowners for protecting valuable possessions including electronics, jewelry, and important documents. Moreover, various burglar alarm systems are integrated with professional monitoring services, which dispatch emergency personnel, including the security guard and police upon alarm activation. Furthermore, the integration of security alarm systems with smart homes to offer improved security to users is also contributing to market growth.
Based on Region, North America has been a major contributor to the growth of the burglar alarm market. The growth is attributed to the expanding commercial sector and the presence of a large number of multinational companies that raises the demand for advanced burglar alarms to provide improved security. Additionally, the increasing number of burglaries and theft in North American countries including the U.S. and Canada is also contributing considerably in fueling the market growth.
Key Market Highlights
- Globally, the burglar alarm market is divided based on the component into hardware, software, and service.
- In the context of type, the market is separated into wired and wireless.
- The sales channel segment is bifurcated into offline and online.
- The end-user segment is classified into residential, commercial, and industrial.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in burglar alarms.
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List of Major Global Burglar Alarm Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Aeon Systems, Inc.
- Banham Group
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International Inc.
- Aritech (Carrier Global Corporation)
- Johnson Controls (ADT)
- Napco Security Technologies, Inc.
- Securitas AB
- Security Focus
- Siemens AG
Global Burglar Alarm Market Segmentation:
- By Component
- Hardware
- Software
- Service
- By Type
- Wired
- Wireless
- By Sales Channel
- Offline
- Online
- By End-User
- Residential
- Commercial
- Industrial
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Key Questions Covered in the Burglar Alarm Market Report
- What will be the potential market valuation for the Burglar alarm market by 2030?
- The market valuation for the burglar alarm market is expected to be approximately USD 6,877.60 million by 2030 owing to the increasing number of crime rates that raises the demand for burglar alarms to offer improved security.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the burglar alarm market's growth in the coming years?
- Asia Pacific is anticipated to witness the fastest CAGR during the forecast period due to the increasing investment in the development of smart cities and smart homes.
- What specific segmentation details are covered in the burglar alarm market report, and how is the dominating segment impacting the market growth?
- Wired burglar alarms dominate the market as the alarms do not rely on signals that are susceptible to interference and hacking. Additionally, wired burglar alarms have a more secure physical connection, reducing the risk of signal disruption.
- What specific segmentation details are covered in the burglar alarm market report, and how is the fastest segment anticipated to impact the market growth?
- Industrial segment will register the fastest CAGR as burglar alarms are designed to detect unauthorized entry or intrusion into a facility and alert the relevant personnel, to respond quickly to potential security breaches. Additionally, burglar alarms are utilized to protect industrial facilities including warehouses, factories, production plants, and research centers from theft.
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