Over the period from 2013 to 2023, the electric burglar or fire alarms for buildings market size in Hungary, expressed in value, witnessed a declining trend. The market size stood at approximately 387,920 in 2023. The sector faced substantial downfalls in 2017 and 2020, marked by year-on-year decreases of 13.67% and 20.84%, respectively. Despite minor recuperations in 2021 and 2022, showing slight increases of 9.65% and 0.74%, by 2023 there was another decline of 4.4%. Over the five-year span, the compound annual growth rate (CAGR) rested at -3.6%, depicting a consistent downtrend.
Future trends to monitor include:
- Adoption of smart technology in security systems
- Rising demand for integrated security solutions
- Regulatory changes impacting building safety standards
- The influence of economic and construction sector recovery
