The global market for Alarm Monitoring Services is forecast to reach US$73 billion by 2024, driven by rising security threats and the need for vulnerability management solutions; launch of affordable alarm monitoring services; aging global society and the need for remote safety monitoring and emergency response. Other broader market forces influencing growth include global recovery in construction activity; rising adoption of smart home technologies and home automation solutions; stricter enforcement of building codes that mandate use of fire alarm detectors, sensors and related services; surge in crime rates and the need for intrusion alert systems. Of special note is the disruptive rise of cloud based alarm monitoring services supported by benefits such as minimal investments, customizable personal security as well as physical security features and ability to access account information through a smartphone. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 9.9% over the analysis period led by factors such as growing economies; rapidly developing real estate sector and spurt in new constructions; rising awareness among property developers over the importance of safety and security and the ensuing focus on integrating fire alarms, video cameras and access control devices into new facilities.
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Summary of Findings
- Rapid Development of Senior Living Communities in Developed Markets Drives Demand for Senior Housing Security and Alarm Systems and Services
- High Risk of Fire in High Rise Buildings and Skyscrapers & Legislation of New Fire Safety Norms Drive Demand for Affordable and Innovative Alarm Monitoring Services
- Alarm Monitoring Service Providers Invest on Mesh Network Technology to Provide Faster Signal Transmission Speed Which Equals to Higher Quality of Service
- Need for Intrusion Prevention Drives Adoption of Remote Video Monitoring and Surveillance Services Among Businesses and Commercial Establishments
- Internet of Things (IoT) and Cloud Computing Emerge to Play Disruptive Roles in Alarm Monitoring
Timeline for Analysis
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Geographic Markets Analyzed
- US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin America
Market Segmentation & Classification
- Intrusion & Fire Alarm Monitoring Services (Residential, & Non-Residential), and Other Alarm Monitoring Services
- Ademco (Far East) Pte Ltd.
- ADT LLC
- Bosch Security Systems
- G4S PLC
- Global Security Solutions
- Guardian Protection Services, Inc.
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