The global gunshot detection system7

The
global gunshot detection system (GDS) market size is set to reach USD 1,408.3 million in 2028. This information is given by Fortune
Business Insights™ in
a new report, titled, “Gunshot Detection
System Market, 2021-2028.” The report further states that the market stood
at USD 673.9 million in 2020. It is
expected to showcase a CAGR of 10.56%
in the forecast period between 2021-2028. An increasing number of upcoming smart
city projects in various parts of the world is compelling government agencies
to install advanced gunshot detection systems. In November 2019, ShotSpotter,
Inc., for instance, signed a three-year contract worth USD 4.27 million with the
Puerto Rico Public Housing Authority. This deal would enable the company to
supply its novel gunshot detection technology to the metropolitan area,
including Trujillo Alto, Bayamón, and San Juan

COVID-19 Pandemic: Travel Bans Worldwide to Impact Growth Negatively

Stringent
lockdown and social distancing measures implemented by regulatory bodies would negatively
affect the defense sector across the globe amid the COVID-19 pandemic. ShotSpotter,
Inc., for instance, declared a complete travel ban because of the pandemic in
March 2020. It would suspend every installation and project management activity,
thereby impacting the demand for these detection systems. At the same time, scheduled
deployments would also be postponed as customers are dealing with their own response
to the pandemic. Similar other factors are set to be responsible for a slowdown
in the industry.

Report Coverage-

Our
analysts have conducted extensive primary and secondary research to gain
authentic information of the market. In the secondary research, several
government sources, such as the Bureau of Justice Statistics (BJS), U.S.
Federal Bureau of Investigation (FBI), were taken into consideration to determine
the crime rate across the globe. The primary research included the supply side
marked by the development of gunshot detection and advancements in gunshot detection
technology. 

A Significant Industry Development-

ShotSpotter Bags New Contract from Detroit Police Department to Deliver
Sensors

In November 2020, ShotSpotter,
a leading gunshot detection system manufacturer, received a four-year contract
from the Detroit Police Department for the installation of sensors. The deal is
worth USD 1.5 million and it includes the annual subscription for expert
witness services, real-time alert services, and gunfire analysis. It will be
started in spring 2021. These sensors will be mounted on high structures, such
as streetlights, buildings, and telephone poles. It can also capture audio
clips and date & time during shooting.

Drivers & Restraints-

Surging Installation by Law Enforcement to Aid Growth

The
surging utilization of gunshot detection systems by defense forces, security
agencies, and law enforcement worldwide is set to affect growth positively. These
systems can analyze and detect real-time information and send it to the police
department. In June 2020, for instance, the Sacramento City Council extended a contract
worth USD 2.5 million with ShotSpotter. It will enable the former to detect
gunshots through 2025 at three undisclosed locations. However, the installation
process of these detection systems requires high material costs and labor. It
may hinder the gunshot detection system market growth in the upcoming years.

Information source: https://www.fortunebusinessinsights.com/gunshot-detection-system-market-105077