Gunshot Detection System Market Analysis By 2028 |
Posted: June 1, 2023 |
The global gunshot detection system (GDS) market growth is set to gain momentum from the increasing focus of prominent manufacturers on the development of advanced technologies for detecting real-time sound. Safe Zone, for instance, completed a USD 1 million round of funding anchored by Seedfunders. This would help to broaden its senior leadership team and strengthen its distribution in North America. Fortune Business Insights™ published this information in a new study, titled, “Gunshot Detection System Market, 2021-2028.” The study further mentions that the market size was USD 673.9 million in 2020. It is expected to grow from USD 697.5 million in 2021 to USD 1,408.3 million in 2028, exhibiting a CAGR of 10.56% in the forecast period. The gunshot detection system market refers to the market for sensors and software that are used to detect and locate gunfire in real time. These systems are designed to help law enforcement and security personnel respond more quickly and effectively to shooting incidents. They can be installed in public spaces, such as schools, airports, and shopping centers, as well as in private buildings and residences.
Segmentation- Growth of the defense segment is expected to be driven by increasing installations The industry research report categorizes the gunshot detection system market based on geography, installation type, application, and system type. The installation type is classified as fixed installation, vehicle installation, and soldier-mounted installation. The system type is segmented into outdoor and indoor systems. The application type is divided into defense and commercial. The defense segment is projected to dominate the market, accounting for the largest share of the gunshot detection system market. This is mainly due to the use of GDS in detecting the location of gunfire, especially from large weapons, in the defense sector. Report Coverage- The gunshot detection system market involves various stakeholders, including providers of software solutions, original equipment manufacturers (OEMs), manufacturers of gunshot detection system equipment, and suppliers of components. The percentages for breakdowns, splits, and shares were verified through primary sources and determined using secondary sources. The market's size and supply chain were calculated using both bottom-up and top-down approaches. Drivers & Restraints- Surging Need to Reduce Risks of Collateral Damage to Bolster Growth The increasing cases of mass shootings in public worldwide are one of the most crucial reasons responsible for the gunshot detection system market growth in the near future. The Gun Violence Research Group, for instance, declared that in 2019, the U.S. experienced the highest number of mass shooting incidents. When deployed indoors and outdoors, gunshot detection systems help to lower the risk of collateral damage in high crime areas. However, the installation and integration of these systems involve high cost spending, which, in turn, may obstruct growth. Browse Source : https://www.fortunebusinessinsights.com/gunshot-detection-system-market-105077
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