Gunshot Detection System Market Size, Emerging Trends, Opportunities, Status By 2032
Gunshot Detection System Market Overview:
Gunshot Detection System Market Size was valued at USD 0.4 billion in 2022. The gunshot detection system market is projected to grow from USD 0.438 Billion in 2023 to USD 0.9053 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.50% during the forecast period (2023 - 2032).
Over the years, there has been a large demand for the gunshot detection systems, primarily due to the increasing number of firearm related crimes such as mass shooting, VIPs being gunned down, among others, across the globe. In the recent years, the number of such violent incidents is on the rise and are unreported in a large number of cases. Therefore, it has become very essential for the government authorities as well as the law enforcement agencies to provide effective solutions and prevent such incidents. Gunshot detection system market trends growth to be witness in near future
The global gunshot detection system market size has been segmented by installation type, product type, end-user, and region. On the basis of installation type, the gunshot detection system market size is divided into fixed systems, portable systems, and vehicle mounted systems. In 2017, the fixed system segment dominated the global market, due to the usage of acoustic sensor node technology, which helps in the detection of the gunshots, from a large distance. It is expected that the portable system segment would witness the fastest market growth, during the forecast period, as the defense authorities and law enforcement agencies are focusing more on the portable/wearable technologies, in the recent years.
Market Segmentation:
Similarly, based on product type, the gunshot detection system market industry size is divided into indoor and outdoor. In 2017, the outdoor segment dominated the global market and it is also expected to witness the fastest market growth, during the forecast period. This is because of the increase of violent incidents in the recent years, in the national borders, on the streets, and political gatherings, among others. Likewise, on the basis of end-user, the gunshot detection system market size is divided into homeland security personnel and military forces. In 2017, the military segment dominated the global market, as there have been large expenses by the defense authorities on the gunshot detection systems, in the recent years, to prevent the number of casualties at the borders. It is also expected that the homeland security segment would witness the fastest market growth, during the forecast period, as the law enforcement agencies are currently focused on curbing/preventing such incidents across the schools, hospitals, and metro/railway stations.
Key Players:
Numerous important manufacturing firms serve the market's needs on a regular basis. Knowing the revenue trends and major competitors in the Gunshot detection system market size is essential. The following are the Gunshot detection system market drivers.
Raytheon Company, Thales Group, ACOEM Group, SST (ShotSpotter), Inc., Shooter Detection Systems LLC.
Regional Analysis:
On the basis of region, the global gunshot detection system market size is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2017, North America dominated the global market. The law enforcement agencies and the defense authorities in the region focus more on the advanced security systems, which would drive the growth of the regional market. Concurrently, in the recent years, the number of violent firearm incidents in the US, in particular, has been growing rapidly. As a result, the law enforcement agencies of the US are focused on deploying solutions so as to reduce the number of the gunfire casualties. Such factors bolsters the market growth.
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