Alarm Monitoring Global Market Report 2024

Alarm monitoring involves the prompt and detailed communication between a home security system and the central station of a security provider. This service aids in reducing false alarms and allows operators to concentrate on managing confirmed incidents as they occur.

The primary types of offerings in alarm monitoring encompass hardware, software, and services. Organizations utilize systems and hardware to enhance their information technology capacities. The hardware market includes components within the computer case, such as the CPU, hard disk drive, graphic cards, sound cards, RAM, power supply unit, and motherboard. Input signals can be analog, discrete, or protocol signals, while communication technologies encompass wired telecommunication networks, cellular wireless networks, wireless radio networks, and IP networks. These technologies find applications in various domains, including equipment monitoring, vehicle alarm monitoring, building alarm monitoring, and environmental monitoring.

The alarm monitoring market research report is one of a series of new reports that provides alarm monitoring market statistics, including alarm monitoring industry global market size, regional shares, competitors with an alarm monitoring market share, detailed alarm monitoring market segments, market trends and opportunities, and any further data you may need to thrive in the alarm monitoring industry. This alarm monitoring market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 observed growth in the historical period can be attributed to several factors, including a rise in crime rates, the increased adoption of home security systems, heightened awareness of fire safety, growth in commercial and residential infrastructure, and a rising demand for electronic security systems.

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 anticipated growth in the forecast period can be attributed to several factors, including the development of advanced video analytics, an increased focus on cybersecurity in alarm systems, the adoption of 5G technology for faster and more reliable monitoring, rising urbanization, and an increase in homelessness. Key trends expected in the forecast period include advances in sensor technologies, the emergence of mobile-based alarm monitoring applications, a shift towards cloud-based alarm monitoring solutions, the integration of alarm systems with home automation, and collaborations between alarm monitoring companies and law enforcement agencies for faster response times.

The alarm monitoring market is poised for growth due to increasing awareness of home security, driven by rising concerns about thefts and burglaries in residential and commercial spaces. With the surge in property crimes, households and businesses are becoming more vigilant about their security levels, leading to a heightened demand for alarm monitoring services. Alarm monitoring systems establish a direct and detailed connection between the home security setup and the central station of the security provider. For instance, a report by SafeWise in May 2023 indicated that 27% of Americans experienced personal property crime in 2021, with 50% expressing concerns about potential property crimes occurring. This increased awareness of home security is contributing to the rising demand for alarm monitoring services.

The upward trend in crime rates is expected to further fuel the growth of the alarm monitoring market. Crimes, characterized as unlawful acts or behaviors against the law, prompt the need for rapid response measures like alarm monitoring to prevent and mitigate incidents such as unauthorized access, theft, or breaches in security. For example, data from CrimeRate. co. uk indicated a crime rate of 75.88 per 1,000 people in the United Kingdom in 2022-2023, marking an 8% increase from 2021. This escalation in crime rates is a significant driver spurring the demand for alarm monitoring services.

A notable trend within the alarm monitoring market is product innovation. Major companies operating in this sector are concentrating on developing technologically advanced products to strengthen their market positions. For instance, in 2022, Optex, a Japan-based company specializing in high-performance sensing technologies, introduced GENIO Map Cloud, the world's first real-time cloud-based burglar alarm monitoring platform. This innovative platform is targeted at consumers due to its affordability and comprehensive features. GENIO Map Cloud manages security workflows for small to medium-sized operations, such as gated communities, factories, and warehouses. By eliminating the need for expensive and complex networking systems, this alarm monitoring software offers accessibility from anywhere with an internet connection and a web browser, presenting a user-friendly and efficient solution to security monitoring needs.

Major players in the alarm monitoring market are intensifying their focus on introducing smart home protection solutions to establish a competitive advantage in the industry. Smart home protection solutions comprise interconnected devices and technologies aimed at augmenting the security and safety of residential properties. Typically, these solutions integrate a variety of sensors, cameras, alarms, and smart technologies. For example, in June 2023, SimpliSafe, a US-based smart home security company, unveiled its 24/7 Live Guard Protection service. This service is specifically tailored to enhance protection for homes utilizing the Smart Alarm Wireless Indoor Security Camera alongside the Fast Protect Monitoring plan. The camera integrates video verification and 24/7 live guard protection features, enabling monitoring agents to assess and verify potential threats in real-time. Equipped with advanced technology, the Smart Alarm Wireless Indoor Security Camera records motion, promptly connecting users with live agents when necessary. It incorporates onboard AI capable of detecting human movement, triggering alarms, and recording events, enhancing security measures effectively.

In December 2021, Securitas Inc., a Sweden-based security services provider, completed the acquisition of Supreme Security Systems for a transaction amounting to $20 million. This strategic acquisition empowered Securitas to expand its service capabilities and offerings in the northeastern United States. This acquisition aligned with Securitas's overarching goal of doubling the size of its security business by 2023. Supreme Security Systems, a US-based electronic security system company, specializes in providing alarm monitoring services, adding value to Securitas's portfolio and extending its presence in key markets. The acquisition enabled Securitas to enhance its footprint and service offerings, contributing significantly to its growth strategy in the security services sector.

Major companies operating in the in the alarm monitoring market report are 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.

North America was the largest region in the alarm monitoring market share in 2023. The regions covered in the alarm monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the alarm monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The alarm monitoring market includes revenues earned by entities by providing services such as wireless alarm systems, wired alarm systems, monitored alarm systems, and unmonitored alarm system. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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