New York, NY -- (SBWIRE) -- 01/19/2018 -- Increased security in futuristic smart cities along with the demand for advanced security systems are the key factors driving the growth of Gunshot Detection system market. Gunshot Detection system market is one of the significantly increasing market because of rising criminal activities in urban areas. These have led to rapid proliferation of Gunshot Detection system across the globe.

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Moreover, the Global demand from various industry verticals will fuel the growth of the Gunshot Detection system market. The trend for smart cities across the globe is resulting in the quantitative increase in demand of Gunshot Detection system. Gunshot Detection system are being actively used across the globe. Moreover demand by smart home activities will push the growth of Gunshot Detection systems.

A Gunshot Detection system is an advance security technology that uses an audio sensor to determine when and where shooting take place. In addition the Gunshot Detection system uses advanced sensors and cloud-based software to pinpoint gunshots and notify authorities.

Gunshot Detection system market: Drivers and Challenges

The major growth drivers of the Gunshot Detection system market include rise in demand of advanced security systems, increasing demand of security in various industry verticals, and demand for convenient premium security features. In addition, shooting incidents at educational institutions will drive the growth of Gunshot Detection system market. Increasing demand from government side has led to growth of the Gunshot Detection system across the globe.

Major challenges of Gunshot Detection system market are installation cost of gunshot detection systems, scarcity of gunshot detection professionals, worldwide financial uncertainty and macroeconomic situations such as currency exchange rates and economic difficulties are some of the major factors which are hindering the growth of Gunshot Detection system Market.

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Competition Landscape

Key contracts

Key Contracts in Gunshot Detection system market are as:

In October 2015, Raytheon Company, United states' largest defense contractor and Industrial Corporation, has acquired Herndon, Virginia-based Foreground Security and leading provider of security operations centers (SOCs)
Key Players

Some of the major players in Global Gunshot Detection system Market are Raytheon Company, Thales Group, Battelle Memorial Institute, Rafael, SST, Safran Electronics & Defense, Rheinmetall AG , ELTA Systems Ltd, Acoem Group , Databuoy Corporation , CILAS, Qinetiq North America , Microflown Avisa B.V. , Shooter Detection Systems LLC, Safety Dynamics Inc.