Market Size –
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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Scope Of Alarm Monitoring Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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
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Regional Insights –
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
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Alarm Monitoring Market Report Structure
3. Alarm Monitoring Market Trends And Strategies
4. Alarm Monitoring Market – Macro Economic Scenario
5. Alarm Monitoring Market Size And Growth
…..
27. Alarm Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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