The global gunshot detection system market accounted to US$ 850.2 Mn in 2017 and is expected to grow at a CAGR of 22.6% during the forecast period 2018 - 2025, to account to US$ 4,325.0 Mn by 2025.
The revenue generated from the market for gunshot detection system is uneven for different regions. For instance, the North America region is estimated to hold the major revenue share. The U.S. is dominating the market globally by holding more than 50% of the total market share. North America is followed by MEA region. Majority of the growth in MEA region is from developed economies such as Saudi Arabia, Iran, UAE, and Afghanistan among others. However, minimal growth has been noticed in the African region, apart from South Africa. The market in Europe and APAC is correspondingly showing growth, with increasing government budgets for defense as well as security. This growth is further attributed to the increasing threat from terrorism. SAM region acquires a very low market share due to presence of several underdeveloped as well as developing economies with low government budgets for law enforcement and public security.
Exhibit: Lucrative Regional Markets
Governmental Initiatives to Mitigate Public Shooting is Driving the Gunshot Detection System Market
Weapon related fierceness are devastating these days across the globe. Unfortunately, these incidents of violence are increasing rapidly and are many a times unreported too. Therefore, it has become essential for state and local law enforcement agencies to deploy solution which can take detect/prevent such cases in future. Also, in past few years there was large number of incidents of gunfire in public areas and commercial infrastructure. One such miserable instance took place in Las Vegas in 2017, where 58 people were killed and hundreds of others were injured by a gunman. Also, in 2014, a terrorist attack in a School of Pakistan killed around 150 people. Increase in such incidences are fueling the gunshot detection system market among the homeland security teams. As per SecurityInfowatch, around 300 mass shootings incidences occurred in the U.S. in 2015. Owing to which, gunshot detection systems is extensively deployed in educational institutes, government buildings, museums, and hotels etc. This incident has boosted the growth of gunshot detection system market.
Increase in Smart City to Expedite Gunshot Detection System Market
Gunshot detection system is used by urban safety & security agencies to improve core city services. Cities are turning to smart city with installation of numerous security and innovative features that improve and maintain a high quality of life and livability for citizens. These systems can be installed as a standalone device and discretely located on rooftops & other out of sight areas. The gunshot detection system is now being a part of the developing smart cities around the world. This factor is creating significant market space for the market players operating in gunshot detection system market to influence their customers. Smart city solutions include novel technologies that help improve quality of life for citizens. The smart city solutions include gunshot detection, efficient waste removal, and smart streetlights including many others. Shotspotter, one of the leading player in gunshot detection system market has installed sensors in GE's smart streetlights which is the initiative to develop smart cities across the globe. Thus, increase in initiative to construct smart cities worldwide is expected to generate ample opportunity for industry players in gunshot detection system market.
Product Type Insights
Currently, the market players in gunshot detection system market are experiencing significant demand for gunshot detection systems in several indoor and outdoor applications such as educational institutes, retail, property management, airports, manufacturing industry, government agencies, military, law enforcement agencies, and sports & entertainment facilities including many others. The companies are also inclined towards integrating gunshot detection system with video management systems, critical emergency management systems, access control, alarm input, mass notification, and many more that will provide the customer with novel solutions in near future. There is a mounting attentiveness towards indoor gunfire detection system by major hospitality and commercial segment across the globe. Some of the educational institute and commercial consumers, including hotels have already started installing indoor systems to identify interior active shoot incidents. This factor has driven the gunshot detection system market heavily. However, due to less awareness about the indoor systems these are still in its nascent stage and is expected to grow in near future.
Gunshot detection system delivers the real-time awareness to soldiers and police to respond quickly and accurately to aggressive attacks to better defend themselves from snipers and other gunfire threats. This technology locates gunfire faster and more accurately as compared to a human that help to increase officer's safety and locating forensic shreds of evidence at the scene. The global gunshot detection system market offer insights depending on different types of installations such as fixed, vehicle mounted, and wearable devices which provides the end users with enemy detection and localization capabilities. Amongst them, in 2017, fixed gunshot detection system dominated the gunshot detection system market with more than two-thirds of the share in the global market.
The defense sector is one of the prominent end users in gunshot detection system market and uses three layer of security from opponent's gunfire, the first layer comprises of individual gunshot detection devices, i.e., wearable devices, second layer is vehicle mounted systems, which can roam around and detect any gunfire and the final layer is fixed installed which communicate information to a central zone.
Exhibit: Gunshot Detection System Market, by Installation