Newark, NJ, Feb. 03, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global gunshot detection system market is expected to grow from USD 1.32 billion in 2019 and to reach USD 3.46 billion by 2027, growing at a CAGR of 12.83% during the forecast period 2020-2027.
A gunshot detection system can be placed outdoors or indoors and offers coverage in the live gun firing. It can also be utilized in various sizes of buildings having many floors. The field of event detection is the coverage area in which bullets shot will record with the technology and trigger an alarm. The rising rates of gunfire and gunshots in common places like universities, colleges, and schools lead to an augmented requirement for gunshot detection systems. These systems are extensively utilized for homeland defense purposes. These systems need to install a considerable quantity of spatially dispersed sensors over a wide range. Hence, it is expensive as managing gunshot detection systems is costly.
The gunshot detection system is employed by urban safety & protection companies in order to improve core services. Municipalities turn to smart cities that incorporate some safety and innovative features that enhance and ensure citizens' livability and a better lifestyle. The gunshot detection systems can be fixed as a standalone instrument. The systems are also be placed on out of sight fields as well as rooftops. The gunshot detection system is an essential component of developing smart cities across the globe. This component creates a significant market place for the major businesses serving in the gunshot detection system market to change their consumers' choices. To improve the lifestyle of the people, modern technologies are included in smart cities.
Smart cities are anticipated to use superior technologies in order to improve safety. Gunshot detection plays an essential role in developing private protection services. The systems are being utilized by many cities in the United States. The commercial gunshot detection system fittings are highly affected. A travel ban in the region is one of the reasons affecting the fittings of the gunshot detection system and delaying project administration jobs.
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Key players operating in the global gunshot detection system market include Databuoy Corporation, QinetiQ North America, Rheinmetall AG, Microflown Avisa BV, Safety Dynamics, Inc., Louroe Electronics, Amberbox Inc., Shooter Detection Systems, Shotspotter Inc. and Raytheon Company. To gain a significant market share in the global gunshot detection system market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In 2018, Stanley Security and Shooter Detection Systems LLC entered into a partnership in order to cater to the demands of a huge number of businesses. Under the agreement, Stanley Security is authorized to formally service, deploy, and sell Shooter Detection Systems products.
- In 2018, ShotSpotter stretched its product penetration across Chicago. It has covered more than 100 square miles under coverage as the region has an extensive base of consumers. The company's gunshot detection solutions are highly utilized by the people in Chicago in order to battle the problems related to urban gun crime.
- In 2017, Genetec Inc. and ShotSpotter integrated in order to accumulate more data with reliable real-time occurrence activity as well as the accurate position of the incident location. Under this integration, Genetec Inc. has the authority to utilize the technology offered by ShotSpotter in its centralized IP safety program.
The indoor segment had the highest share of 58.33% in the global gunshot detection system market in 2019
The product type segment includes outdoor and indoor. The indoor segment had the highest share of 58.33% in the global gunshot detection system market in 2019 and is also expected to show the highest share over the forecast period. It is due to the increasing demand from commercial as well as crucial hospitality segments globally. Commercial customers, along with educational institutes, have begun introducing indoor arrangements in order to distinguish inside actual shoot events. These are driving the growth of the gunshot detection system market.
The fixed installation segment had the highest share of 38.25% in the global gunshot detection system market in 2019
The installation segment includes vehicle mounted installation, wearable installation and fixed installation. The fixed installation segment had the highest share of 38.25% in the global gunshot detection system market in 2019 and is also expected to show the highest share over the forecast period. The defence division utilizes three tiers of protection that constitute wearable devices, vehicle-mounted systems and fixed installed systems. The last layer is majorly used in transmitting data to the center place.
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Regional Segment Analysis of The Gunshot Detection System Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global gunshot detection system market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America is expected to show the highest share in the market over the forecast period due to a large number of deaths related to the firearm in the United States. Therefore, there is an increase in the installation of gunshot detection systems at financial facilities, corporate office locations and universities.
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About the report:
The global gunshot detection system market is analyzed on the basis of value (USD billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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