News ReleaseDeSoto Invested $300K in Gunshot Detection Tech: Is it Yielding Results?
MarketJar
When a 14-year-old boy was shot in broad daylight outside a DeSoto, Texas apartment complex, first responders were able to get to the scene, render first aid and get the victim in an ambulance and to the hospital immediately thanks to the city’s new gunshot detection technology. According to DeSoto's Assistant Police Chief, Ryan Jesionek, the quick response from police is a textbook example of how ShotSpotter’s technology is helping in their fight against firearm violence. The system, which has been operational since April 20, 2023, covers a two square mile zone in the city's northeast, strategically selected through five years of call analysis to target high-risk areas. ShotSpotter's mechanism is straightforward: microphones detect loud sounds and pinpoint their source within an 82-foot radius. Upon gunfire confirmation, officers are dispatched within a minute, enhancing response precision. Triggered by an increase in 2020 gun-related incidents, DeSoto adopted ShotSpotter via a $300,000 contract funded by the American Rescue Plan Act. President Joe Biden's initiative aims to enhance community safety post-pandemic. SoundThinking (NASDAQ:SSTI), ShotSpotter's parent company, acknowledged federal endorsement of tech solutions against violence. Tom Chittum highlighted the transformative role of such tools in revolutionizing gun crime combat. The DeSoto Police Department is one of 150 departments across the country utilizing ShotSpotter’s gunshot detection technology. However, a Johns Hopkins study revealed the company’s inability to solely reduce firearm violence, noting that broader strategies, including policy reforms, are key. Another company utilizing gunshot detection technology in parallel with its other crime prevention technology is Knightscope, Inc. (NASDAQ:KSCP). Knightscope Unveils Automated Gunshot Detection Technology Knightscope, Inc. (NASDAQ:KSCP) is a pioneering public safety technology company focused on developing fully autonomous security robots, blue light emergency communication systems, and automated gunshot detection solutions. The company's overarching mission is to enhance safety and make the United States the safest country in the world. On July 14, 2023 Knightscope announced the addition of real-time, automated gunshot detection technology to its growing portfolio of autonomous security offerings. This strategic move comes in response to mounting requests from various sectors, including schools, corporations, airports, hotels, and municipalities, seeking advanced solutions for active threat management and emergency response. The integration of gunshot detection systems aims to expedite police and security responses, effectively addressing potential threats to public safety. According to the Company, the adoption of gunshot detection systems is driven by several significant reasons, such as mitigating active-shooter incidents, reducing false alarms and complementing other security solutions by enhancing protection across various environments. The Smart Policing Initiative, a collaboration between the Bureau of Justice Assistance and 40 local police agencies, has highlighted the potential of such systems. They can aid immediate response and investigation of gunfire incidents while identifying high-risk areas for targeted interventions, thus enhancing public safety. Knightscope 's automated gunshot detection technology will be integrated into new K1 Blue Light Towers or can also serve as an upgrade to the 7,000 devices already deployed nationwide. This technology can function as a standalone device or in conjunction with the K5 Outdoor and K3 Indoor Autonomous Security Robots (ASRs). The system's flexibility is augmented through optional solar power or light pole kits for installation. Distinguished by its automated precision localization, the system operates both indoors and outdoors, accurately identifying gunshot locations in both horizontal and vertical planes. Notifications are transmitted within two seconds, contingent on reliable cellular service, using a multi-sensor system to minimize false alarms. Knightscope 's approach focuses on localized, real-time coverage for heightened effectiveness, contrasting with city-wide approaches. Sales are set to commence in Q4 2023. Heightened concerns about gunshot-related incidents, especially within school premises, are driving changes in security protocols, fostering demand for gunshot detection systems. Smart Cities initiatives are incorporating such technology into their safety frameworks. Analysts project the North American market for gunshot detection to reach a value of $646 million by 2031, with a CAGR of 9.1% from 2022 to 2031. For more information on Knightscope, Inc. (NASDAQ:KSCP) and the projects it is working on, visit this link or the company's official website. Disclosure 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Knightscope, Inc. Market Jar Media Inc. has or expects to receive from Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) two hundred and sixty-six thousand USD for 89 days (63 business days). 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. 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Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. 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These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. 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August 11, 2023 09:00 AM Eastern Daylight Time
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