Gunshot Detection System Market size is projected to grow exponentially during 2022 to 2028 the growing incidences of shooting at different places including schools, universities, and public spaces along with the rising prevalence of crimes and murders worldwide. According to credible statistics, an estimated 2,000 people worldwide are injured by gunshots every single day, whereas 500 people die every day from gun violence.
Surging investments in border security would further augment the gunshot detection system market demand over the span of 2022-2028, as these systems can extend help to border security forces to detect and avert any attempt of illegal immigration, infiltration, or smuggling. Besides, increasing adoption of these systems by various law enforcement agencies, particularly across the North American economies, would further add to the growth prospects.
Gunshot detection systems are generally deployed in high crime areas and make use of acoustic sensing technology to track, discriminate, and report incidences of gunshots to the police within seconds of the shot being fired.
One of the prominent factors impeding the growth of gunshot detection system business space throughout the analysis period is the high installation costs associated with the installation of these devices across different end-user sectors.
However, advancements in technologies being used in these systems are expected to provide significant growth curve to the gunshot detection system market over the foreseeable time frame.
In addition, the growing prominence of gunshot detection technology to expedite the smart cities trend would as well complement the business share through the coming years. Gunshot detection is considered to play a pivotal role in improving the civilian security services and is therefore being adopted by diverse cities across the U.S., the U.K, and others. In 2015, GE had announced equipping its new smart city project with gunshot detection technology to embed in streetlights in the U.S.
Considering the product type, rising incidences of gunfire and shootouts in indoor spaces including schools, malls, private and government buildings have led to a rise in the demand for indoor gunshot detection systems, thereby offering a positive boost to the industry statistics. In this architecture, an indoor gunshot detection system is paired with AI engines to enable a new generation of systems that leverage the cloud to process and analyze their signals, mitigating the need for additional overhead hardware. Moreover, this would also eliminate the need for human involvement for monitoring, thus reducing the overall cost.
Based on installation, the fixed installation segment would account for significant growth in the upcoming years. The surge in the segment remuneration can be credited to the upgradation in the safety system of current infrastructures of schools, universities, and military. Fixed gunshot detection systems make use of acoustic sensor node technology to track a gunshot occurrence. For military application, these systems are mounted on walls, poles, or border crossings.
Europe gunshot detection system market, amongst these, is anticipated to record stellar growth in the ensuing years, owing to the rising shooting rate across the region, particularly in countries like France, Sweden, and others. A report by BRA cites that Sweden has taken over Italy and other eastern European countries to become the only European nation to record soaring shootout incidences in the region, owing to the violent activities of different criminal gangs. Besides, firearms ownership in the region due to illegal practices and rising crime rate is further pushing the need for gunshot detection systems adoption, driving the regional market expansion.
Key players functioning in the global gunshot detection system industry, like ShotSpotter Inc, Safran Electronics and Defense SAS (Safran), Raytheon Company (Raytheon Technologies), Tracer Technology Systems, Inc, and others, are engrossed in different organic strategies for growth management enabling them to gain a competitive edge in the marketplace.
Analyzing the impact of COVID-19 on gunshot detection system market share
The SARS-CoV-2 infection spread has had a lethal impact on both businesses and humans, drastically challenging different industries including the military and defense space. In this sector, stringent lockdown norms and disruptions in the raw material supply chain have affected the revenue of market during 2020.