Portland, OR, Nov. 14, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global gunshot detection market size generated $0.58 billion in 2021, and is projected to reach $1.2 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Gunshot Detection Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.58 billion |
| Market Size in 2031 | $1.2 billion |
| CAGR | 7.9% |
| No. of Pages in Report | 313 |
| Segments Covered | Product, Application, Installation, System, and Region. |
| Drivers | Rise in acceptance of IoT and surge in cases of shooting has resulted in the growing use of gunshot detection systems. |
| Surge in use of gunshot detection systems. | |
| Opportunities | Rise in acceptance of wearable gunshot detection devices in North America. |
| Need for security in new smart cities. | |
| Restraints | Huge costs related to gunshot detection. |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had negatively impacted the growth of the global gunshot detection market, owing to lockdown in key countries such as the U.S. impacting defence sector leading to a halt in production and delay in product shipments.
- However, the travel ban halted all deployment and project management activities during the COVID-19 pandemic-induced lockdowns. This, in turn, hindered the growth of the global market.
The report offers a detailed segmentation of the global gunshot detection market based on product, application, installation, system, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
Based on product, the indoor segment held the major market share in 2021, holding nearly two-fifths of the global gunshot detection market share, and is expected to maintain its leadership status during the forecast period. However, the outdoor segment, is expected to cite the fastest CAGR of 8.9% during the forecast period.
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On the basis of application, the commercial segment held the largest market share in 2021, accounting for two-fifths of the global gunshot detection market share, and is expected to maintain its leadership status during the forecast period. Nevertheless, the homeland segment, is expected to cite the highest CAGR of 8.5% during the forecast period.
In terms of installation, the fixed system segment held the major market share in 2021, contributing to nearly half of the global gunshot detection market share and expected to maintain its leadership status during the forecast period. However, the portable system segment is expected to maintain its leadership position in terms of revenue and cite the fastest CAGR of 8.5% during the forecast period.
Based on system, the standalone segment held the major market share in 2021, contributing to three-fourths of the global gunshot detection market share, and is expected to maintain its leadership position during the forecast period. However, the integrated system segment, is expected to cite the fastest CAGR of 8.5% during the forecast period.
Region-wise, the North American region held the major market share in 2021, holding nearly one-third of the global gunshot detection market share and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific region is expected to cite the fastest CAGR of 9.1% during the forecast period. The report also analyses other regions such as Europe and LAMEA.
The key players analyzed in the global gunshot detection market report include 3xLOGIC, Inc., Alarm Systems, Inc., AmberBox, Inc., Databuoy Corporation, Information System Technologies Inc., QinetiQ Inc., Raytheon Technologies Corporation, Safe Zone Technologies, Inc., Shooter Detection Systems, and ShotSpotter Inc.
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The report analyzes these key players in the global gunshot detection market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
