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.
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Leading companies profiled in the report include Raytheon Company,Shotspotter Inc.,Shooter Detection Systems,Amberbox Inc.,Louroe Electronics,Safety Dynamics, Inc.,Microflown Avisa BV,Rheinmetall AG,QinetiQ North America,Databuoy Corporation
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.
GLOBAL GUNSHOT DETECTION SYSTEM MARKET – SEGMENTATION
Global Gunshot Detection System Market – By Product Type
Global Gunshot Detection System Market – By Installation
- Fixed Installation
- Wearable Installation
- Vehicle Mounted Installation
Global Gunshot Detection System Market – By Application
- Law Enforcement
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This post was originally published on Space Market Research