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:
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
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.
Bosch Security Systems
Chubb Community Care
Global Security Solutions
Guardian Protection Services, Inc.
Honeywell International, Inc.
Johnson Controls International Plc
MONI Smart Security
Prosegur compania de Seguridad
Secom Co., Ltd.
Stanley Convergent Security Solutions, Inc.
Swann Communications Pty. Ltd.
Vector Security, Inc.
Verisure Holding AB
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
Total Companies Profiled: 269
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