Smart Gun Market Key Players, Trends, Growth Opportunities and Industry Forecast till 2025
“Factors responsible for sustained market growth for smart gun industry include prevalence of domestic violence, organized crimes, and drugs & arms trafficking. Gun violence is considered as major catalyst for propelling need for gun control, thus driving the market growth.�
The Global Smart Gun Market is subject to witness a substantial growth due to the modernization and increasing adoption of automation in law enforcement sector. Factors responsible for sustained market growth for smart gun industry include prevalence of domestic violence, organized crimes, and drugs & arms trafficking. Gun violence is considered as major catalyst for propelling need for gun control, thus driving the market growth. In addition, increase in cases related to the organized crimes and social unrest are driving need for modernization of firearms used by law enforcement agencies. These factors are expected to drive the growth of smart gun market in the upcoming years. Furthermore, growing incidence of mass shooting and increasing demand for gun control by various NGOs are predicted to fuel market over the forecast years. Increasing demand for smart guns from North American and European region are fostering market growth in the last few years. Strong protest against gun violence in U.S. and growing political pressure are anticipated to offer massive platform for manufacturers and distributors. The recent technological advancement in the firearm industry coupled with development of the novel products & techniques such as finger print scanner and RFID technology stimulates the market demand for smart guns over the forecast period. Increasing investment for research & development of smart guns coupled with favorable government laws and regulation are projected to offer lucrative growth opportunities for industry players in the upcoming years. Incidence of drugs and arms smuggling are expected to amplify market demand for smart guns in the Asia Pacific and Africa region in the near future. Emergence of additive manufacturing or 3D printing technology is estimated to play a major role in boosting the growth of smart gun market in the upcoming years. Rise in implementation of additive manufacturing or 3D