Gunshot Detection Systems Market to Grow with a Robust CAGR of Nearly 20% During 2018-2025

Research Nester has released a report titled “Gunshot Detection Systems Market – Global Demand Analysis & Opportunity Outlook 2025” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

Firearm mortality in the United States grew by 9026 numbers between 2005 and 2019. In 2019, the recorded mortality numbers were 39566, while that in 2005 was 30540 numbers.

Globally, there is a rising concern for the increasing weapon related fierceness. Law enforcement agencies are therefore opting for advanced security technologies that can lower firearm mortality cases and also reduce mass killings. On the other hand, growing number of smart cities around the globe is also raising the need for the deployment of security equipment that can safeguard the cities assets and also provide greater livability to the citizens. Consecutively, nations worldwide are opting for gunshot detection systems to safeguard their military personnel during a warfare. Such factors are therefore anticipated to drive the growth of the global gunshot detection systems market in the coming years.

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The global gunshot detection systems market is anticipated to grow with a robust CAGR of nearly 20% during the forecast period, i.e., 2018-2025, owing to the numerous benefits associated with gunshot detection systems and for the increasing demand for gunshot detection systems in smart cities globally. The market is segmented by application into military and law enforcement. Out of these segments, the military segment is forecasted to grow with a CAGR of around 20% during the forecast period, backed by the increasing demand for individual gunshot detector systems and for the need to lower the deaths of military personnel amidst warfare. The law enforcement segment, on the other hand, registered the highest market share in the year 2019.

Geographically, the global gunshot detection systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, amongst which, the North America gunshot detection systems market is forecasted to grab the highest market share of close to 60% in 2021. The growth of the market in the region can be attributed to the stringent regulatory policies and schemes that raises the requirement for the installation of such systems and for the increasing concern for the firearm-related deaths in the region.

However, concerns regarding the high deployment costs of gunshot detection systems is forecasted to hinder the growth of the global gunshot detection systems market in the coming years.

This report also provides the existing competitive scenario of some of the key players of the global gunshot detection systems market, which includes company profiling of ShotSpotter, Inc. (NASDAQ: SSTI), Shooter Detection Systems (SDS), Raytheon Technologies Corporation (NYSE: RTX), AmberBox, Inc., Louroe Electronics, Safety Dynamics, Inc., Microflown AVISA, Rheinmetall AG (ETR: RHM), QinetiQ Group (LON: QQ), and Databuoy Corporation.

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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Gunshot Detection Systems Market – Global Demand Analysis & Opportunity Outlook 2025”, analyses the overall gunshot detection systems industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global gunshot detection systems market in the near future.

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