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",
published by MarketsandMarkets™,
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. 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 personnel, along with
individuals inside these places on their electronic communication devices.
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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.
Browse in-depth TOC on "Gunshot Detection System Market"
105 –
Tables
35 – Figures
145 – Pages
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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.
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