Dublin, July 09, 2021 (GLOBE NEWSWIRE) -- The "Alarm Monitoring - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Alarm Monitoring Market to Reach $57.7 Billion by 2026
Amid the COVID-19 crisis, the global market for Alarm Monitoring estimated at US$43.7 Billion in the year 2020, is projected to reach a revised size of US$57.7 Billion by 2026, growing at a CAGR of 4.8% over the analysis period.
Software, Services & Solutions, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach US$38.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Systems & Hardware segment is readjusted to a revised 4.3% CAGR for the next 7-year period. This segment currently accounts for a 38.5% share of the global Alarm Monitoring market.
Over the years, the global alarm monitoring industry has been garnering considerable business driven by rising concerns about crime in society. Security systems are currently a vital component in the safety and security plans of homeowners and organizations across the globe. Incremental technology development induced rise in product sophistication, and fall in prices have additionally helped expand demand in the market.
The market has also benefited from the rising frequency of terrorist attacks, and the resultant increases in government expenditures on public safety. With businesses prioritizing safety and security of physical assets, it`s opportunities galore in the market in the upcoming years. The growing realization of the fact that alarm monitoring systems/services have a relatively faster and higher return on investment than employing manned guards also bodes well for the market.
The U.S. Market is Estimated at $17.1 Billion in 2021, While China is Forecast to Reach $6.3 Billion by 2026
The Alarm Monitoring market in the U.S. is estimated at US$17.1 Billion in the year 2021. The country currently accounts for a 38.45% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$6.3 Billion in the year 2026 trailing a CAGR of 6.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR while Rest of European market (as defined in the study) will reach US$6.9 Billion by the close of the analysis period.
Software, solutions and services represent major source of income, as companies generate regular streams of revenues through monitoring fees that is charged on a monthly basis.
Wired Telecommunication Network Segment to Reach $26.5 Billion by 2026
Global Wired Telecommunication Network segment is estimated at US$20.2 Billion in 2020, and is projected to reach US$26.5 Billion by 2026 reflecting a compounded annual growth rate of 4.8% over the analysis period. United States constitutes the largest regional market for Wired Telecommunication Network segment, accounting for 35.7% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 6.7% over the analysis period, to reach US$3.5 Billion by 2026.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Pandemic Drives Down Demand for Security Solutions and Alarm Monitoring Business
- An Introduction to Alarm Monitoring
- Central Station (Alarm Monitoring Center)
- How Does Alarm Monitoring Work?
- Technology in Use
- Note on Alarm Monitoring Software
- Alarm Monitoring - A Prelude
- Global Market Prospects & Outlook
- North America: A Strong R&D Base for Alarm Monitoring
- Developing Markets to Turbo Charge Future Growth in the Market
- Alarm Monitoring in Commercial Sector Gains Share
- Attractive Discounts Attract Customers to Insurance Policies
- Widespread Consumer Awareness: A Crucible for Success
- False Alarms: Major Deterrent for Alarm Monitoring Systems Adoption
- Competitive Scenario
- Alarm Monitoring Lures IT and Telecom Companies
- Recent Market Activity
- Select Global Brands
2. FOCUS ON SELECT PLAYERS (Total 269 Featured)
- Ademco (Far East) Pte Ltd.
- ADT LLC
- Bosch Security Systems
- Chubb Community Care
- G4S PLC
- Global Security Solutions
- Guardian Protection Services, Inc.
- Honeywell Access
- Honeywell International, Inc.
- ISONAS
- Johnson Controls International Plc
- MONI Smart Security
- Prosegur compania de Seguridad
- Secom Co., Ltd.
- Securitas AB
- Slomin`s, Inc.
- Stanley Convergent Security Solutions, Inc.
- Swann Communications Pty. Ltd.
- UTC Climate
- Vector Security, Inc.
- Verisure Holding AB
- Vivint, Inc.
3. MARKET TRENDS & DRIVERS
- Growing Importance of Electronic Security Systems Creates Fertile Ground for Alarm Monitoring Market
- Surge in Crime Rates Propels Uptake of Alarm Monitoring Solutions
- Smart Homes & Home Automation Unveil New Opportunities
- Remote Activation of Intelligent Home Alarm Systems
- Cloud-Based Home Security Solutions Gain Demand
- Security in Smart Cities Receives Undivided Focus
- Burglar Alarms Market: Growing Need to Safeguard Assets and People Drives Growth
- Burglar Alarm Systems Market Gains from Technological Advancements
- Building Codes & Feature Rich Models Sustain Momentum in Fire Alarms Domain
- A Review of Current Trends in the Fire Alarm Systems Market
- Product Innovation Paves the Way for Advanced and Sophisticated Services
- New Technologies Influence Design & Functioning of Alarm Systems
- Modern Mobile Devices Augment Alarm Monitoring Ecosystem
- Outdoor Alarms Facilitate Mobility
- Wireless Alarm Monitoring Continues to Make Big Gains
- PERS to Become an Integral Part of Aging-in-Place Solutions
- Advanced Technologies to Foster PERS Adoption
- mPERS Seeks Mainstream Role
- Speech-Triggered Alarms: Simplify Usage
- Reimbursement Scenario Calls for Attention
- Alarm Management Dashboards Enable Quick and Easy Data Access
- Remote Video Monitoring Services Grow in Demand
- Trends in the Construction Industry Influence Market Uptake
- Urbanization Steers Momentum in the Alarm Monitoring Market
- Burgeoning Middle Class Population Spurs Market Growth
- Aging Population: The Fastest Growing Demographic
- False Alarms: A Challenge to Reckon With
- Growing Competition from Substitute Technologies Niggle Prospects
- High Costs Remain a Major Issue
- Low Awareness Levels Hamper Uptake
- Downward Pressure on Selling Prices Impacts the Market
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 269
For more information about this report visit https://www.researchandmarkets.com/r/leldrf