Alarm Monitoring Market: Global Industry Analysis and Forecast (2023-2029)

An Alarm Monitoring Market size was valued at US$ 55.77 Bn. in 2022 and the total Alarm Monitoring revenue is expected to grow by 5.4% from 2023 to 2029, reaching nearly US$ 80.60 Bn.
Alarm Monitoring Market Overview:
Global Alarm monitoring is the speedy and thorough interaction between a home security system and a security provider's control center. The control panel detects an emergency and transmits a signal to the central monitoring station, which notifies the necessary authorities and dispatches them to the emergency location. The report explores the Alarm Monitoring market's segments (Offering, Technology, Application, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America).

It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Alarm Monitoring market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Alarm Monitoring market's contemporary competitive scenario.

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Alarm Monitoring Market Dynamics:
The growing prevalence of violent crimes all over the world is expected to be a major driver of market growth.

According to the Global Burden of Disease research, around 414,000 individuals died of homicide in 2022. This was roughly three times the number of people murdered in military conflict and terrorism. Homicide is one of the leading causes of death in several nations. The Homicide rates are very high in various Latin American nations. Homicide was the third leading cause of death in Venezuela in 2022, the 4th in Honduras, and the 5th in Guatemala.

When we focus on the deaths of young adults, the extent of homicide becomes much more obvious. Homicide was responsible for less than 0.1 percent of deaths in much of Western Europe, for example. Across parts of Eastern Europe, North Africa, Asia, and Oceania, it was less than half percent. It was 0.6 percent in the U. S. However, in certain regions, the proportion is significantly greater. Some South American countries have exceptionally high rates. Homicide was responsible for more than 6.8% of deaths in El Salvador, 6.1% in Guatemala, and 5.2% in Venezuela.

The performance-based disadvantages of alarm monitoring systems are expected to be a major restraint in the market growth.

There may be issues if an alarm system is solely connected to the security firm through the phone line. Before entering the house, a thief may cut the phone connection, terminating all monitoring and contact with the alarm provider. As a consequence, having a cellular radio integrated with the system allows contact with the security provider even if the phone connection is disconnected. While a household security system can give adequate security, it can also be rather bothersome. It is not rare for the system to generate false alerts. In rare circumstances, the police or fire department may be called before anybody has an opportunity to clarify the error to the security firm. Some police agencies may prosecute the individual if they are summoned to the residence frequently for no apparent cause.

The higher expenses associated with alarm monitoring systems are a major challenge in the market growth.

The biggest downside of a home alarm system is the cost. The system is expensive to install in the first place, and security firms charge a daily or monthly fee for monitoring services as well. These costs can quickly build up, putting a burden on people's resources if they are on a tight budget. It's critical to understand that security system costs are divided into three categories: equipment costs, monthly home security system costs, and activation and installation costs.

When it comes to home security systems, no two are similar. Some have basic offers, while others have full packages that include cameras and intelligent doorbells. Others, on the other hand, claim options that let clients pick and select what they require to keep their houses secure. The home security systems can cost up to (with the purchase of a contract) $600 for a sophisticated protection package.
Alarm Monitoring Market Segment Analysis:
By Application, the building alarm monitoring segment is expected to grow at a CAGR of 4.6% in the forecast period. Reports of security threats and breaches in the residential area are increasing and have therefore led to a rise in demand for enhanced safety and security systems like CCTV cameras, alarm sensors, etc. This is anticipated to boost the demand for the alarm monitoring market in the forecast period.

Rapid urbanization throughout the world and development projects like Smart Cities are anticipated to catalyze the adoption of smart homes with intelligent security systems in the near future which is likely to drive the market growth. Furthermore, growing installations of home automation systems are expected to boost the growth of the alarm monitoring market in the building monitoring segment over the forecast period.

The popularity of Do-It-Yourself household security systems, in which homeowners install and maintain the systems themselves, is growing. The increased usage of smartphone-based alarm systems in the residential sector is also expected to drive demand for the alarm monitoring market.
Regional Insights:
Governments are investing in measures to increase the security of their respective countries. With the use of additional monitoring systems, warning systems, and access restrictions, the development of smart cities is one of the key sectors of architectural advancements. The government of India has launched the Smart City Mission to construct over 100 cities across the country, which is improving the local market.

Because of increased demand for vehicles and automation, technologically advanced nations like China, and Japan are expected to be the key regions in the market. Moreover, high disposable income and shifting living standards would drive the alarm monitoring market since consumers tend to buy their own homes as their financial backbone strengthens. Additionally, the Asia-Pacific market is expected to be driven further by quickly emerging metropolitan centers and an ever-increasing local population. Meanwhile, increasing R&D efforts at the academic and industrial research levels are broadening the diverse applications of alarm monitoring systems, making it simpler to add asset monitoring, which is also driving the regional market.

The objective of the report is to present a comprehensive analysis of the Alarm Monitoring market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Alarm Monitoring market dynamics, and structure by analyzing the market segments and projecting the Alarm Monitoring market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Alarm Monitoring market make the report investor’s guide.
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Alarm Monitoring Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 55.77 Bn


Forecast Period 2023 to 2029 CAGR:
5.4 %
Market Size in 2029:
US $ 80.60 Bn.


 Segments Covered:
by  Offering
Hardware
Software
Services


by Technology
Wired Telecommunication Network
Cellular Wireless Network
Wireless Radio Network
IP Network


by Application
Vehicle Alarm Monitoring
Building Alarm Monitoring
Other



Alarm Monitoring Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are:
1.ABB Ltd.
2.Siemens AG
3.Rockwell Automation Inc.
4.Honeywell International Inc.
5.Schneider Electric SE
6.ADT Corporation
7.Diebold Nixdorf
8.Tyco International Plc
9.United Technologies Corporation
10.Johnson Controls International Plc
11.CPI Security System Inc.
12.FrontPoint Security Solutions LLC
13.Samsung Electronics Co Ltd.
14.Securitas
15.Vivint

FAQs:

1. Which is the potential market for the Alarm Monitoring in terms of the region?
Ans. APAC is the potential market for Alarm Monitoring in terms of the region.

2. What are the challenges for new market entrants?
Ans. The higher expenses associated with alarm monitoring systems are a major challenge in the market growth.

3. What is expected to drive the growth of the Alarm Monitoring market in the forecast period?
Ans. The growing prevalence of violent crimes all over the world is expected to be a major driver of market growth.

4. What is the projected market size & growth rate of the Alarm Monitoring Market?
Ans. Alarm Monitoring Market size was valued at US$ 55.77 Bn. in 2022 and the total Alarm Monitoring revenue is expected to grow by 5.4% from 2023 to 2029, reaching nearly US$ 80.60 Bn.

5. What segments are covered in the Alarm Monitoring Market report?
Ans. The segments covered are Offering, Technology, Application, and Region.