According to the
new market research report on the "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", published by MarketsandMarkets™, this 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.
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Wired telecommunication network held the
largest share of the alarm monitoring market in 2017
Wired telecommunication network or PSTN is
the most commonly used communication technology in the existing alarm
monitoring systems; its reliability is a major reason of its dominating
presence. PSTN, being a legacy system, is widely used in major regions. Most
old alarm monitoring systems make use of PSTN, and are not likely to switch to
newer technologies due to the high cost and complexity involved.
Residential buildings to hold a larger share
of the market for building alarm monitoring throughout the forecast period
Residential buildings are expected to hold a
larger share of the alarm monitoring market for building alarm monitoring
throughout the forecast period as the demand for home security systems is
increasing due to the rise in crime rates. Monitoring of residential buildings
is growing at a high rate owing to the rising penetration of security systems
in the residential sector. Increasing income, rising demand for security, and
discounts on home insurance policies are some of the major factors boosting the
adoption of alarm monitoring systems in the residential sector.
Browse in-depth
TOC on "Alarm
Monitoring Market"
64 – Tables
47 – Figures
132 – Pages
North
America to hold the largest share of the alarm monitoring market during
the forecast period
North
America is in the forefront in the evolution and development of alarm
monitoring technology as this region is home to some of the largest
multinational corporations in the world. Most leading players operating in the
global alarm monitoring market are based in this region. Increased R&D in
the field of remote monitoring, home automation systems, and Internet of
Things, in terms of new and improved technologies, is a major factor driving
market growth in North America. The emerging
R&D activities at the academic and industry levels are broadening the
application areas of alarm monitoring to include equipment monitoring, building
alarm monitoring, environment monitoring, and medical equipment monitoring in North America.
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The report also profiles the most promising
players in the alarm monitoring market. The competitive landscape provides a
picture of the strategies adopted by a large number of the players in the
market. The key 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).
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USA :
1-888-600-6441
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