The alarm systems and equipment market effectively consist of sales of alarm systems and equipment and linked services for protection and security of the residential or commercial buildings. Alarm systems and equipment are the devices that provided an audible, visual or other variation of alarm signal about an issue or condition and can perform functions such as access control, lighting, and heating control in the homes or buildings. The dissimilar types of alarm systems involve door alarm, motion sensor alarm, glass break sensor, water alarm, and heat alarm.
According to the report analysis, ‘Alarm Systems And Equipment Global Market Report 2020’ states that in the alarm systems and equipment global the market there are several corporates which presently operating more effectively for leading the highest market growth and dominating the handsome value of market share across the globe during the inflowing duration while decreasing the linked prices, employing the young workforce, increasing the applications of such, implementing the profitable strategies, analyzing and studying the strategies and policies of competitors and government, spreading the awareness related to the alarm systems and equipment and advancing the specifications of the production technologies include ADT, Moni, Honeywell, Securitas, UTC, Schneider, Johnson Controls, Vivint, Vector Security, and Bosch.
The world alarm systems and equipment market reached a worth of nearly USD 13.7 billion in 2019, having augmented at a compound annual growth rate (CAGR) of -.36% since 2015, and is expected to increase at a CAGR of -.55% to approximately USD 13.4 billion by 2023.
The alarm systems and equipment market has been geographically divided into North America, Western Europe, Asia-Pacific, Eastern Europe, South America, and Middle East & Africa. The Asia Pacific was the greatest region in the alarm systems and equipment market throughout 2019.
The alarm system and equipment market is propelled by augmenting investments in smart homes which are propelled by safety and security concerns amongst households. Consumers are more aiming at security than before, mostly in residential locations with an augment in crime rates. The smart home devices such as smart alarms and connected equipment are being favored by the households to be safer and protected. As reported by home burglary statistics of 2018, homes without the security systems are 300% more probable to defenseless to burglary. According to a CRS report published during 2018, violent crime and homicide rates have been augmented by 7% and 21% respectively in the US from 2014 to 2016, which emphases the future prospects for the alarm system, and equipment.
On September 2019, Redwire, security professionals in Tallahassee, Florida, obtained American Alarm & Audio for an undisclosed amount. The acquisition will bring loyal consumers to Redwire and also the corporate will be benefitted from American Alarm & Audio’s wide variability of security products and services for residential and commercial such as alarm systems, camera systems, home audio, structured wiring, and central vacuum. The American Alarm & Audio is a family maintained and operated security company is headquartered in Florida, USA.
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Ankur Gupta, Head Marketing & Communications