Gunshot Detection System Market To Witness the Highest Growth in North America Region

1
Gunshot Detection System Market To Witness
the Highest Growth in North America
Region According to the latest market research
the report "Gunshot Detection System Market by
Application (Commercial, Defense),
Installation (Fixed, Soldier Mounted, and
Vehicle Mounted), Product Type (Indoor, and
Outdoor), and Region (North America, Europe, Asia
Pacific, Middle East) - Global Forecast to 2025",
is estimated at USD 594 million in 2020 and
is projected to reach USD 979 million by
2025, at a Compound Annual Growth Rate
(CAGR) of 10.5 from 2020 to 2025.
Gunshot detection systems for homeland security
were first used in the U.S. These systems are
primarily used by law enforcement
agencies. They are installed at a height of more
than 30 feet above the ground at select locations
of the coverage area. These include walls,
poles, streetlights, and buildings, among
others. Increase in the incidents of mass
shootings in educational institutions is a prime
concern. These systems installed at
educational institutions places provide
real-time updates on shooting events to
security personal, along with individuals inside
these places on their electronic communication
devices. . Industry experts believe that COVID-19
could affect Gunshot Detection System production
and services by 10 globally in 2020. Download
PDF Brochure _at_ https//www.marketsandmarkets.com/p
dfdownloadNew.asp?id58054729 The fixed
installation segment to grow at a higher
CAGR in the gunshot detection system market
during the forecast period The gunshot detection
system market has been segmented and analyzed in
terms of installation type, namely, fixed
installation, soldier mounted, and vehicle
mounted. The market is dominated by the fixed
segment and this segment is also projected to
grow at the highest CAGR during the forecast
period. Fixed gunshot detection systems use the
acoustic sensor node detection technology to
detect a gunshot event. Fixed installations are
carried out at a specific height from the ground.
High security areas such as restricted military
infrastructures are high potential fixed
installation sites for gunshot detection systems.
Military installations use fixed installations
on walls,
2
poles or border crossings. Fixed electro-optic
systems are used by military personnel for enemy
sniper localization. Increasing investment in
subscription as a service (SaaS) is expected to
drive the market for gunshot detection system
market during the forecast period Based on
solution, the SaaS segment of the gunshot
detection system market is estimated to have
the highest CAGR during the forecast period.
The increasing subscription based services by
public safety authorities is driving the market
for this segment. North America region shows the
highest potential for implementation of gunshot
detection North America is expected to drive the
growth of the gunshot detection system market in
the coming years, at the highest CAGR during the
forecast period, 2020 to 2025. The gunshot
detection system market in North America is
expected to witness growth, owing to the high
number of firearm-related deaths in the region,
especially in the US where firearm-related death
rate is 25 times higher than other countries.
Major US cities are planning to install
indoor gunshot detection systems at
universities, corporate office locations, and
financial facilities, among others, over the next
five years. Key Market Players The major players
in the gunshot detection system market include
SST, Inc (US), Raytheon (U.S), Shooter Detection
Systems (US), Tracer Technology (US), and QinetiQ
North America (US), Thales (France) among others.
These players have adopted growth strategies
such as new product launches, contracts,
collaborations, acquisitions, expansions
agreements, to expand their presence in the
gunshot detection system market. new product
launches have been the leading strategies adopted
by major players from 2016 to 2019, which
helped them innovate on their offerings and
broaden their customer base. Ask for Sample
Report _at_ https//www.marketsandmarkets.com/reques
tsampleNew.asp?id58054729
About MarketsandMarkets MarketsandMarkets
provides quantified B2B research on 30,000 high
growth niche opportunities/threats which will
impact 70 to 80 of worldwide companies
revenues. Currently servicing 7500 customers
worldwide including 80 of global Fortune 1000
companies as clients. Almost 75,000 top officers
across eight industries
3
worldwide approach MarketsandMarkets for
their painpoints around revenues decisions. Mar
ketsandMarketss flagship competitive
intelligence and market research platform,
"Knowledgestore" connects over 200,000 markets
and entire value chains for deeper understanding
of the unmet insights along with market sizing
and forecasts of niche markets. Contact Mr.Aashis
h Mehra MarketsandMarkets INC. 630 Dundee
Road Suite 430 Northbrook, IL 60062 USA
1-888-600-6441