Amid the COVID-19 crisis, the global market for Security Alarms estimated at US$5.5 Billion in the year 2020, is projected to reach a revised size of US$9.4 Billion by 2027, growing at a CAGR of 7.8% over the period 2020-2027.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 11.8% CAGR
The Security Alarms market in the U.S. is estimated at US$1.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.1 Billion by the year 2027 trailing a CAGR of 11.8% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.