LONDON, March 27, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Burglar Alarm Systems Global Market Report 2024, the burglar alarm systems market has experienced significant growth in recent years, driven by rising concerns for home and property protection and advancements in security technology. Market analysis indicates that the market size will increase from $5.41 billion in 2023 to $5.9 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.1%. Furthermore, the burglar alarm systems market is anticipated to surge to $8.11 billion by 2028, showcasing a CAGR of 8.3%.
Integration with Smart Home Technologies
The projected growth of the burglar alarm systems market can be attributed to the increasing popularity of smart homes, characterized by interconnected devices and systems that offer enhanced convenience, energy efficiency, and security. Integrated burglar alarm systems in smart homes provide remote monitoring, alerts, and automation, leveraging smart sensors, cameras, and mobile apps for heightened security and convenience. Major trends in the forecast period include mobile app innovations, technological integration, advancements in sensor technology, and integration with video surveillance systems.
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Focus on Smart Arming and User Convenience
Leading companies in the burglar alarm systems market, such as Alarm.com and Securitas AB, are prioritizing innovative features like smart arming to enhance user security and convenience. Smart arming intelligently auto-arms and disarms based on user activity, providing flexibility and peace of mind for homeowners. For instance, Alarm.com recently launched the smart arming feature, allowing customers to customize arming and disarming schedules. Additionally, strategic acquisitions, such as Securitas AB's acquisition of Supreme Security Systems, expand companies' service capabilities and bolster their positions in the market.
North America Leads Market, Asia-Pacific Emerges as Growth Hub
North America emerged as the largest region in the burglar alarm systems market in 2023, with Asia-Pacific expected to be the fastest-growing region in the forecast period. The burglar alarm systems market is segmented by type into wireless and wired burglar alarm systems, by component into hardware, software, and services, and by application into commercial and industrial, and residential sectors.
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The burglar alarm systems market is poised for robust growth, fueled by the increasing integration of smart home technologies and advancements in security solutions. Major players continue to innovate, introducing features like smart arming to enhance user convenience and security. With opportunities for expansion across regions and sectors, the burglar alarm systems market presents promising prospects for stakeholders and industry participants.
Burglar Alarm Systems Global Market Report 2024 by The Business Research Company provides insights on the burglar alarm systems market size, burglar alarm systems market segments, burglar alarm systems market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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