The 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.

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Based on installations, the fixed installation segment is estimated to account for the largest share will 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 mounted. The market is dominated by the fixed segment and this segment is also projected to grow at the highest CAGR during the forecast period. The growth in fixed segment owing to upgradation of security system in existing infrastructures such as universities, public banks, and corporate offices, among others, fixed gunshot detection systems use the acoustic sensor node detection technology to detect a gunshot event.

Based on system, the outdoor segment is projected to lead the gunshot detection system market during the forecast period

Based on system, the outdoor segment is estimated to account for the largest share of the gunshot detection system market in 2019. High demand for vehicle mounted and soldier mounted gunshot detection system is expected to drive this market. The need for better surveillance and safety systems from gunfire on military vehicles, soldiers in an a combat region is prime drivers for gunshot detection systems in the region.

On the basis of application, the commercial segment is projected to grow at the highest CAGR during the forecast period

Based on application, the commercial segment of the gunshot detection system market is projected to grow at the highest CAGR during the forecast period. The demand for increased security in futuristic smart cities is a factor driving the gunshot detection system market. In the last 3 to 5 years large-scale installations of gunshot detection systems have taken place in cities of North America and some parts of Europe.

Gunshot detection system market in the Asia Pacific is expected to witness the highest growth during the forecast period

The geographical analysis of the gunshot detection system market includes regions such as North America, Europe, Asia Pacific, and Rest of the World (RoW). The North America region accounted for the largest share of the gunshot detection system industry in 2019. North America has the highest firearms possession to population ratio across the world. The US in the region accounts for the largest civilian gunfire deaths. Need for better surveillance and safety systems from gunfire in cities are the prime drivers for gunshot detection systems in the region.

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Key Market Players

SST, Inc. (U.S.), Raytheon BBN technologies (U.S.), QinetiQ North America (U.S.), Shooter Detection Systems, LLC (U.S.), and Acoem Group (France) amongst others.

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