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Europe and Latin America alarm monitoring market is projected to reach USD 21.66 Billion by 2030, registering a CAGR of 11.5% - Valuates Reports
Europe and Latin America Alarm Monitoring Market
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Alarm monitoring system is an enhanced and detailed communication solution designed to connect home or building security system with the central station of user's security provider. Furthermore, the central station is intended to register the emergency event and notify appropriate authorities to act. Alarm monitoring control panel is a hub of a sensor network that includes window or door sensors, tamper sensors on the telephone box, flood sensors, smoke detectors, motion detectors, and temperature monitors. In addition, monitored alarm system offers additional features such as immediate alerts, which do not require a confirmation call, or silent alarms.
Alarm monitoring has revolutionized the residential, commercial, and industrial sectors by offering enhanced and cost-saving asset monitoring solutions. In addition, rise in utilization of motion sensors and smoke detector solutions to help prime organizations for 24-hour care of buildings and their essential equipment is expected to fuel the monitored alarm system growth in the coming years.
The Europe and Latin America alarm monitoring market opportunity is expected to witness notable growth during the forecast period, owing to attractive insurance policy discounts for installing security systems. Furthermore, rise in popularity of smart homes and home automation systems has driven the growth of the market. Moreover, increase in utilization of smartphones and handheld-based security system is expected to propel the Europe and Latin America alarm monitoring market growth during the forecast period.
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However, rise in incidence of false alarm is one of the prime factors restraining the market growth. On the contrary, increase in use of DIY home security systems is expected to provide lucrative opportunities for the growth of the Europe and Latin America alarm monitoring market size during the forecast period.
The outbreak of COVID-19 has significantly affected the growth of the alarm monitoring market in 2020, however, the market witness relatively high growth in 2021, owing to rise in demand for home automation solution. Conversely, the market was principally hit by several obstacles created amid the COVID-19 pandemic such as lack of skilled workforce availability and delay or cancelation of projects owing to partial or complete lockdown globally. In contrast, surge in adoption of Internet of Things (IoT)-based smart home security applications across residential, commercial, and healthcare sectors is expected to drive the Europe and Latin America alarm monitoring market growth during the forecast period.
The Europe and Latin America alarm monitoring market forecast is segmented into offering, technology, input signal, component, and application. On the basis of offering, the market is bifurcated into system & hardware and software, services, & solutions. The system & hardware segment dominated the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period. By technology, the market is segregated into wired telecommunication network, IP Network, and others.
The wired telecommunication network segment was the highest revenue contributor in 2020, and is anticipated to garner significant market share during the forecast period. Depending on input signal, the market is fragmented into analog signal, discrete signal, and protocol signal. The analog signal segment led the market, in terms of revenue, in 2020, and is expected to follow the same trend during the forecast period. As per component, the market is differentiated into remote terminal unit, motion detection sensor, and others.
The remote terminal unit segment witnessed the highest growth in 2020, however, the other segment is anticipated to drive the market growth in coming years. By application, the market is categorized into vehicle alarm monitoring, building alarm monitoring, and others. The building alarm monitoring segment acquired the largest share in 2020, and is expected to grow at a high CAGR from 2021 to 2030.
Region wise, the alarm monitoring market trends are analyzed across Europe (UK, Germany, France, Italy, Russia, and rest of Europe) and Latin America (Brazil, Argentina, Colombia, and rest of Latin America). Latin America, specifically Brazil, remains a significant participant in The Europe and Latin America alarm monitoring industry. Competitive analysis and profiles of the major Europe and Latin America alarm monitoring market players, such as ABB Ltd., Siemens AG, Diebold Inc., Schneider Electric SE, Honeywell International, Vivint Inc., Johnson Controls, Bosch Rexroth AG, ADT Corporation, and Vector Security are provided in this report.
Significant factors that impact the growth of the Europe and Latin America alarm monitoring industry include rise in popularity of smart homes & home automation systems, surge in utilization of smartphones-based security system, and attractive insurance policy discounts for installing security systems. In addition, increase in incidence of false alarm acts as a prime barrier for early adoption affect the market growth. Moreover, surge in demand for DIY home security systems influences the market growth. However, each of these factors is expected to have a definite impact on the growth of the Europe and Latin America alarm monitoring market during the forecast period.
Competitive analysis and profiles of the major Europe and Latin America alarm monitoring market players, such as ABB Ltd., Siemens AG, Diebold Inc., Schneider Electric SE, Honeywell International, Vivint Inc., Johnson Controls, Bosch Rexroth AG, ADT Corporation, and Vector Security are provided in this report.
This study comprises analytical depiction of the Europe and Latin America alarm monitoring market size along with the current trends and future estimations to depict the imminent investment pockets.
The overall Europe and Latin America alarm monitoring market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current Europe and Latin America alarm monitoring market share forecast is quantitatively analyzed from 2021 to 2030 to benchmark the financial competency.
Porter's five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
The report includes the market share of key vendors and Europe and Latin America alarm monitoring market trends.
Key Market Segments
By Type
➣System & Hardware
➣Software, Solution, & Services
By Technology
➣Wired Telecommunication Network
➣IP-Network
➣Others
By Input Signal
➣Analog Signal
➣Discrete Signal
➣Protocol Signal
➣By Component
➣Remote Terminal Unit
➣Motion Detection Sensor
➣Others
By Application
➣Vehicle Alarm Monitoring
➣Building Alarm Monitoring
➣Others
Key Market Players
➣ABB Ltd.
➣Siemens AG
➣Diebold Inc.
➣Schneider Electric SE
➣Honeywell International
➣Vivint Inc.
➣Johnson Controls
➣Bosch Rexroth AG
➣ADT Corporation
➣Vector Security
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Building Alarm Monitoring Market:- https://reports.valuates.com/market-reports/QYRE-Auto-7O6157/global-building-alarm-monitoring
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