Overview and Scope
Alarm monitoring refers to quick and detailed communication between your home
security system and the central station of your security provider. Alarm
monitoring help to reduce false alarms and enables the operatives to focus on
handling confirmed incidents as they come in.
Sizing and Forecast
The alarm monitoring market size has grown strongly in recent years. It will
grow from $56.38 billion in 2023 to $60.02 billion in 2024 at a compound annual
growth rate (CAGR) of 6.5%. The growth in the historic period can be
attributed to rise in crime rates, adoption of home security systems, increased awareness of fire safety, growth in
commercial and residential infrastructure, rising demand for electronic
security systems.
The alarm monitoring market size is expected to see strong growth in the next
few years. It will grow to $77.26 billion in 2028 at a compound annual growth
rate (CAGR) of 6.5%. The growth in the
forecast period can be attributed to development of advanced video analytics,
increased focus on cybersecurity in alarm systems, adoption of 5g technology
for faster and more reliable monitoring, rising urbanization, rise in
homelessness. Major trends in the forecast period include advances in sensor
technologies, emergence of mobile-based alarm monitoring applications, shift
towards cloud-based alarm monitoring solutions, integration of alarm systems
with home automation, collaboration between alarm monitoring companies and law
enforcement agencies for faster response times.
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Segmentation & Regional Insights
The alarm monitoring market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Communication Technology: Wired Telecommunication Network, Cellular
Wireless Network, Wireless Radio Network, IP Network
3) By Input Signal: Analog Signal, Discrete Signal, Protocol Signal
4) By Application: Equipment Monitoring, Vehicle Alarm Monitoring, Building
Alarm Monitoring, Environment Monitoring
North America was the largest region in the alarm monitoring market share in
2023. The regions covered in the alarm monitoring market report are Asia-Pacific,
Western Europe, Eastern Europe, North America, South America, Middle East,
Africa
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Major Driver Impacting Market Growth
The increasing awareness of home security is expected to drive the growth of
the alarm monitoring market going forward. Due to the rise in the number of
thefts and burglaries, awareness among households about home security levels
and commercial spaces is rising. Alarm monitoring is one of the fastest mediums
for a detailed connection between the home security system and the security
provider's central station. For instance, in May 2023, according to a report by
SafeWise, a US-based home security company, 27% of Americans reported their
personal experience of property crime in 2021, and 50% believed that property
crime could occur to them. Therefore, increasing awareness of home security is
driving the demand for the alarm monitoring market.
Key Industry Players
Major companies operating in the alarm monitoring market report are ADT
security services, ABB Ltd., Ademco Pte Ltd., AT&T Inc., Chubb Community
Care Ltd., Comcast Corporation, CPI Security System Inc., Diebold Nixdorf Inc.,
Engineered Protection Systems Inc., FrontPoint Security Solutions LLC, G4S plc,
Global Security Solutions, Guardian Protection Services Inc., Honeywell
International Inc., Johnson Controls International plc, Robert Bosch GmbH,
Rockwell Automation Inc., Samsung Electronics Co. Ltd., Schneider Electric,
Secom Co. Ltd., Sector Alarm AS, Securitas AB, Siemens AG, Simplisafe Inc.,
Slomin's Inc., Stanley Black & Decker Inc., Trigion Security Services Ltd.,
Tyco International plc, United Technologies Corporation, Vector Security Inc.,
Vivint Smart Home Inc.
The alarm monitoring market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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