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.
Browse 105 market data Tables and 35 Figures spread through 144 Pages and in-depth TOC on “Gunshot Detection System Market – Global Forecast to 2024”
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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.
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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.
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.
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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.
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