According to The Business Research Company’s Alarm Monitoring, 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.
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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.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.
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The alarm monitoring market covered in this report is segmented –
1) Alarm Monitoring Market By Offering: Hardware, Software, Services
2) Alarm Monitoring Market By Communication Technology: Wired Telecommunication Network, Cellular Wireless Network, Wireless Radio Network, IP Network
3) Alarm Monitoring Market By Input Signal: Analog Signal, Discrete Signal, Protocol Signal
4) Alarm Monitoring Market By Application: Equipment Monitoring, Vehicle Alarm Monitoring, Building Alarm Monitoring, Environment MonitoringProduct Innovation is the key trend gaining popularity in the alarm monitoring market.
Top Major Players
Major companies operating in the alarm monitoring market are focused on developing technologically advanced products to strengthen their market position. For instance, in 2022, Optex, a Japan-based company specializing in manufacturing high performance sensing technologies introduced GENIO Map Cloud, a world’s first real-time cloud-based burglar alarm monitoring platform targeted at consumers by the affordable cost and a variety of features. A GENIO Map Cloud solution manages security workflow for small to medium-sized operations such as gated communities, factories, and warehouses. By eliminating the need to set up or maintain expensive, complex networking systems, the all-new GENIO Map Cloud alarm monitoring software can be accessed anywhere with an internet connection and web browser.
The alarm monitoring market report table of contents includes:
1. Executive Summary
2. Alarm Monitoring Market Characteristics
3. Alarm Monitoring Market Trends And Strategies
4. Alarm Monitoring Market – Macro Economic Scenario
5. Global Alarm Monitoring Market Size and Growth
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31. Global Alarm Monitoring Market Competitive Benchmarking
32. Global Alarm Monitoring Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Alarm Monitoring Market
34. Alarm Monitoring Market Future Outlook and Potential Analysis
35. Appendix
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