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Increasing Home Security Awareness Drives Demand For Alarm Monitoring Market: Key Factor Driving The Growth In The Alarm Monitoring Market
Alarm Monitoring Market
What Is the Expected Alarm Monitoring Market Size During the Forecast Period?
The market size for alarm monitoring has witnessed significant growth over the past few years. The market is expected to expand from $59.46 billion in 2024 to $63.09 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.1%. Factors contributing to this growth during the historical period include an increase in criminal activities, incorporation of home security systems, heightened consciousness about fire safety, development in commercial and residential infrastructure, and the growing requirement for electronic security systems.
The market size of alarm monitoring is predicted to witness significant growth in the coming years, escalating to $82.67 billion in 2029 with a compound annual growth rate (CAGR) of 7.0%. The progression during the forecast period can be credited to contributions such as the evolution of sophisticated video analytics, enhanced attention towards alarm systems' cybersecurity, the implementation of 5g technology for quicker and more dependable monitoring, increased urbanization, and the upsurge in homelessness. Key trends anticipated during this forecast period include advancements in sensor technologies, the rise of mobile-based alarm monitoring applications, a shift to cloud-based alarm monitoring solutions, the amalgamation of alarm systems with home automation, and partnerships between alarm monitoring firms and law enforcement to expedite response times.
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What Are the High-Growth Segments in the Alarm Monitoring Market?
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
Subsegments:
1) By Hardware: Alarm Panels, Sensors, Control Keypads, Sirens And Strobe Lights, Video Cameras
2) By Software: Alarm Management Software, Monitoring Software, Mobile Applications, Reporting And Analytics Tools, Integration Software
3) By Services: Monitoring Services, Installation Services, Maintenance and Support Services, Consulting Services, Training Services
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What Key Drivers Are Expected to Influence Future Alarm Monitoring Market Growth?
The alarm monitoring market is projected to see significant growth as awareness about home security increases. The escalating number of thefts and burglaries has heightened the understanding of home security measures, both for individual households and commercial facilities. Alarm monitoring, which creates a crucial link between a homeowner's security setup and the security service provider, is rapidly gaining popularity. For example, a report by US-based company SafeWise in May 2023 revealed that 27% of Americans confirmed their own instance of property crime in 2021, with half of them acknowledging the possibility of future property crimes. Consequently, the surge in home security cognizance is fueling the demand for the alarm monitoring market.
Which Companies Hold the Largest Share Across Different Alarm Monitoring Market Segments?
Major companies operating in the alarm monitoring market include 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.
What Trends Are Driving Growth in The Alarm Monitoring Market?
The primary trend making headway in the alarm monitoring market is product innovation. To consolidate their market presence, prominent companies in the market are concentrating on creating technologically superior products. As an illustration, Optex, a company based in Japan known for its exceptional sensing technology production introduced the GENIO Map Cloud in 2022. This is the first-of-its-kind real-time cloud-based burglar alarm monitoring platform in the world, targeted towards customers, made appealing by its low cost and multiple features. Suitable for small to medium-scale operations like gated communities, factories, and warehouses, the GENIO Map Cloud solution handles the security workflow. It eliminates the necessity for establishing or maintaining costly, complicated network systems. The innovative GENIO Map Cloud alarm monitoring software is accessible from any location via a web browser and internet connection.
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What Are the Emerging Geographies for The Alarm Monitoring Market Growth?
North America was the largest region in the alarm monitoring market share in 2024. The regions covered in the alarm monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Alarm Monitoring Market?
2. What is the CAGR expected in the Alarm Monitoring Market?
3. What Are the Key Innovations Transforming the Alarm Monitoring Industry?
4. Which Region Is Leading the Alarm Monitoring Market?
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