Global Alarm Monitoring Market to Reach $57.7 Billion by 2026

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.

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.

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. Most companies do not charge for equipment and installation in order to widen their customer-base. With respect to communication technologies used for existing alarm monitoring systems, the wired telecommunication network dominates the alarm monitoring market, owing to the reliability of this communication technology. And, of all the end-use applications, the market remains the largest for building alarm monitoring systems, of which residential buildings comprise a major part.

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.