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The alarm monitoring market is expected to grow at a CAGR 5.5% between 2018 and 2023.
The overall alarm monitoring market is expected to be valued at USD 45.70 billion in 2018 and is likely to reach USD 59.83 billion by 2023, at a CAGR 5.5% between 2018 and 2023. The major factors driving the growth of the alarm monitoring market include attractive insurance policy discounts for installing security systems and increasing popularity of smart homes and home automation systems. False alarms are a major factor restraining the adoption of alarm monitoring systems.
Building alarm monitoring held the largest share of the overall alarm monitoring market in 2017.
In 2017, building alarm monitoring held the largest share of the overall alarm monitoring market. Residential buildings form a major segment of the alarm monitoring market for building alarm monitoring; a significant portion of the overall revenue in this segment is generated through monthly recurring charges, which are obtained for monitoring services. Building alarm monitoring is seen as a lucrative market because of the enormous growth opportunities in this market.
The market for protocol input signals for alarm monitoring is expected to grow at the highest CAGR between 2018 and 2023.
Protocol inputs are electrical signals, which are formatted into a formal code that represents more complex information than that in case of discrete or analog signals. There are different types of protocols for transmitting telecom alarm data. With growing cybersecurity concerns, protocol signals are preferred over analog and discrete signals as these signals provide more security due to encryption.
The alarm monitoring market in APAC is expected to grow at the highest CAGR between 2018 and 2023.
Alarm monitoring is still an emerging market in the developing economies in APAC. The higher growth rate of the market in APAC can be attributed to the fastgrowing urban centers and increasing population, among other factors. Moreover, APAC is highly concerned about the increase in security spending owing to the evergrowing threat landscape in the region.
Breakup of the profiles of primary participants:
By Company Type: Tier 1 = 20%, Tier 2 = 45%, and Tier 3 = 35%
By Designation: CLevel Executives = 60% and Managers = 40%,
By Region: North America = 45%, Europe = 20%, Asia Pacific = 30%, and Rest of the World = 5%
The prominent players in the alarm monitoring market include ADT US, Moni US, Honeywell US, Securitas Sweden, UTC US, Schneider France, Johnson Controls US, Vivint US, Vector Security US, and Bosch Germany.
This research report categorizes the global alarm monitoring market on the basis of enduse application, offering, communication technology, input signal, and geography. The report discusses the major drivers, restraints, challenges, and opportunities pertaining to the market, and includes value chain analysis.
Reasons to Buy the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the alarm monitoring market comprehensively and provides the closest market size estimation for subsegments across different regions.
2. The report would help stakeholders understand the pulse of the market and provide them the information on key drivers, restraints, challenges, and opportunities for the market.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section studies competitor ecosystem, and various developments such as product launches, acquisitions, partnerships, expansions, agreements, contracts, alliances, and collaborations carried out by the market players.
Original Article: Alarm Monitoring Market by Offering Systems Hardware, Services, Input Signal Discrete, Protocol, Communication Technology Wired, Cellular, IP, Application Building, Equipment, Vehicle Alarm Monitoring, and Geography Global Forecast to 2023 [Report UpdateNEXT ARTICLE
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