The market size volume for electric burglar or fire alarms for buildings in Estonia has shown a fluctuating trend from 2013 to 2023. In 2023, the market reached approximately 320.94 thousand. Over the last two years, there was modest growth with year-on-year increases of 1.95% in 2022 and 1.89% in 2023. The compound annual growth rate (CAGR) over the last five years stood at 1.67%, indicating a stable yet gradual upward trend in the market size.
Future trends to watch for include:
- Increased adoption of smart and connected security systems as technology advances.
- Rising demand driven by heightened security concerns and regulatory requirements.
- Potential growth in retrofitting older buildings with modern alarm systems to enhance safety.
