Gunshot Detection System Market Opportunities and Challenges

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The Gunshot Detection System (GDS) market report
provides an analysis of the market from 2019 to
2024. It discusses industry and technology trends
prevailing in the market, along with the market
drivers, restraints, challenges, and
opportunities. The gunshot detection system
market is projected to grow from USD 564
million in 2019 to USD 1,008 million by
2024, at a CAGR of 12.30 from 2019 to 2024.
The gunshot detection system market in North
America is expected to witness substantial
growth during the forecast period due to the
upgradation of security system in existing
infrastructures such as universities, public
banks, and corporate offices, among others. The
rise in gun ownership and illegal firearms market
are the factors that have led to rising crime
rate across this region. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id58054729 Among installations, the fixed
installations segment is projected to witness the
highest growth during the forecast period. Major
US cities are planning to install indoor gunshot
detection systems at universities, corporate
office locations, and financial facilities,
among others, over the next 5 years. GDS
installations in the perimeters of the cities
will help detect gunshot incidences. Among
applications, the commercial segment is expected
to grow at the highest CAGR during the forecast
period. Increasing demand for gunshot detection
systems from educational institutions and
homeland security is expected to drive this
market. The increasing incidences of homicides
by gun violence, is driving the demand for
commercial gunshot detection systems. In terms of
geographic coverage, the gunshot detection system
market has been segmented into 5 regions,
namely, North America, Europe, Middle East, Asia
Pacific (APAC), and Rest of the World, which
includes Latin America and Africa. North America
is estimated to account for the largest share of
the gunshot detection system market in 2019.
Countries in North America, such as the US do not
have strict gun control laws. The people to gun
ratio in these countries is very high. Moreover,
increasing incidences of gunfire and homicides
within these regions, is driving the GDS market.
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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. Ask for
Sample Report _at_ https//www.marketsandmarkets.com/
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