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The global gunshot detection system (GDS) market growth is set to gain momentum from the increasing focus of prominent manufacturers on the development of advanced technologies for detecting real-time sound. Safe Zone, for instance, completed a USD 1 million round of funding anchored by Seedfunders. According to a recent study titled "Gunshot Detection System Industry, 2021-2028" by Fortune Business Insights™, a renowned market research firm, it has been reported that a company aims to expand its senior leadership team and enhance its distribution network in North America. The study reveals that the gunshot detection system market had a valuation of USD 673.9 million in 2020 and is projected to reach USD 1,408.3 million by 2028, with a compound annual growth rate (CAGR) of 10.56% during the forecast period. Segmentation- Increasing Installation to Spur Growth of the Defense Segment According to the research report, the gunshot detection system market is categorized based on various factors, including geography, installation type, application, and system type. Installation types are classified as fixed installation, vehicle installation, and soldier-mounted installation. System types are divided into outdoor and indoor systems. Furthermore, the market is segmented based on application, distinguishing between defense and commercial sectors. The report predicts that the defense segment will continue to lead the market, generating the largest market share. Gunshot detection systems are primarily utilized in the defense sector to identify the origins of gunfire, particularly from large weapons. Report Coverage- The market comprises multiple stakeholders, such as software solution providers, original equipment manufacturers (OEMs), and gunshot detection system equipment manufacturers, and component suppliers. All percentage breakdowns, splits, and shares were verified through primary sources and determined using secondary sources. The market’s size and supply chain were calculated using the bottom-up and top-down approaches. Drivers & Restraints- Surging Need to Reduce Risks of Collateral Damage to Bolster Growth The increasing cases of mass shootings in public worldwide are one of the most crucial reasons responsible for the gunshot detection system market growth in the near future. The Gun Violence Research Group, for instance, declared that in 2019, the U.S. experienced the highest number of mass shooting incidents. When deployed indoors and outdoors, gunshot detection systems help to lower the risk of collateral damage in high crime areas. However, the installation and integration of these systems involve high cost spending, which, in turn, may obstruct growth. Browse Source : https://www.fortunebusinessinsights.com/gunshot-detection-system-market-105077