Published: 2019-09-17   Views: 3
Author: SandeepRoy
Published in: Business
Gunshot Detection System Market Projected To Reach $1,008 Million By 2024, At A CAGR Of 12.30%

According to the new market research report "Gunshot Detection System Market by Application (Commercial, Defense), Installation (Fixed Installations, Vehicle Installations, Soldier Mounted), System (Indoor, Outdoor), Solution (Systems, SaaS) and Region - Global Forecast to 2024", The gunshot detection system market is estimated at USD 564 million in 2019 and is projected to reach USD 1,008 million by 2024, at a Compound Annual Growth Rate (CAGR) of 12.30% from 2019 to 2024.

 

Gunshot detection systems for homeland security were first used in the US. 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.

 

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58054729

 

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 installation. The market is dominated by the fixed installation 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 installed at a specific height from the ground. High-security areas, such as restricted military infrastructure are high potential fixed installation sites for gunshot detection systems.  Military installations use fixed installations on walls, 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 gunshot detection system market during the forecast period

Based on solution, the SaaS segment of the gunshot detection system market is estimated to grow at the highest CAGR during the forecast period. The increasing demand for 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, and is expected to grow at the highest CAGR during the forecast period, 2019 to 2024. 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 5 years.

 

Key Market Players

The major players in the gunshot detection system market include SST, Inc. (US), Raytheon (US), QinetiQ North America (US), Shooter Detection Systems, LLC. (US), Acoem Group (France), and Thales Group (France), among others. SST, Inc is one of the key market players engaged in securing contracts to increase the sale of gunshot detection systems.

 

Ask for Sample Report @

https://www.marketsandmarkets.com/requestsampleNew.asp?id=58054729

 

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 worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

 

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

 

MarketsandMarkets’s 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. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

Email: Newsletter@marketsandmarkets.com

Author Bio

This user has not submitted a user bio yet

Disqus Comments

Articles Search

Sponsor

Social Media

Forum Threads Search

Pages Search