Alarm Monitoring Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
The Business Research Company’s Alarm Monitoring Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
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LONDON, GREATER LONDON, UK, November 16, 2023 /EINPresswire.com/ — The global alarm monitoring market, currently valued at $52.58 billion in 2022, is estimated to achieve a noteworthy growth of $56.43 billion in 2023, exhibiting a commendable Compound Annual Growth Rate (CAGR) of 7.3%. Despite the short-term setbacks caused by the Russia-Ukraine conflict on the global economic recovery from the COVID-19 pandemic, the market is projected to expand significantly, with an anticipated valuation of $69.48 billion by 2027. This growth can be attributed to the heightened awareness of home security, compelling households and commercial spaces to invest in advanced alarm monitoring systems for comprehensive security measures.
Factors Driving Market Expansion
The growing awareness of the need for home security, propelled by a rise in thefts and burglaries, has become a key driver for the alarm monitoring market. Alarm monitoring systems serve as a crucial link between the security system in homes or commercial spaces and the central monitoring station, providing real-time surveillance and response. Notably, a report by SafeWise, a US-based home security company, highlighted that 18% of Americans reported personal experience of property crime in 2020, while 42% believed that they were susceptible to such incidents. This increasing awareness has contributed significantly to the surge in demand for advanced alarm monitoring solutions.
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Key Players and Product Innovation
Key players such as ADT Security Services, Honeywell International Inc., and Securitas AB are actively engaged in the alarm monitoring market, prioritizing the development of innovative products to reinforce their market presence. Notably, the introduction of the GENIO Map Cloud by Optex, a Japan-based company specializing in high-performance sensing technologies, represents a significant trend in the market. The GENIO Map Cloud, a real-time cloud-based burglar alarm monitoring platform, offers a cost-effective solution with various features, catering to the security workflow needs of small to medium-sized operations, such as gated communities, factories, and warehouses.
alarm monitoring market segments:
• Offering: Hardware, Software, Services
• Communication Technology: Wired Telecommunication Network, Cellular Wireless Network, Wireless Radio Network, IP Network
• Input Signal: Analog Signal, Discrete Signal, Protocol Signal
• Application: Equipment Monitoring, Vehicle Alarm Monitoring, Building Alarm Monitoring, Environment Monitoring
Geographical Insights: North America Leading Market Share
In 2022, North America stood as the largest region in the alarm monitoring market and is expected to maintain its prominent position throughout the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Alarm Monitoring Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Alarm Monitoring Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on alarm monitoring market size, alarm monitoring market drivers and trends, alarm monitoring market major players, competitors’ revenues, alarm monitoring market positioning, and alarm monitoring market growth across geographies. The alarm monitoring market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Article originally published on www.einpresswire.com as Global Alarm Monitoring Market Set to Reach $69.48 Billion by 2027