Alarm Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

 - In addition, availability of technologically advanced security systems, coupled with increasing investment in R&D for improvement in working of alarm monitoring systems are also factors supporting growth of the global market.

- The awareness about security is increasing and consumers have started adopting surveillance and alarming systems for residential purposes to prevent incidences like theft and fire. Also, the growing usage of electronic security systems in public places is driving the growth of the market.

- The escalating demand for automation security systems for both residential and commercial applications is further expected to support the global market for alarm monitoring.However, occurrence of false alarms is a factor that may hamper growth of the global alarm monitoring market.

- In addition, high cost of installation and maintenance of alarm monitoring system is another factor that could affect growth of the target market. Nevertheless, growing adoption of smartphones-based security systems can create high revenue opportunities for players in the target market.

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Key Market Trends

Residential Segment to Drive Building Alarm Monitoring Market

- Reports of security threats and breaches in residential area are increasing and has therefore led to a rise in demand for enhanced safety and security systems like CCTV cameras, alarm sensors etc. This will boost the demand for alarm monitoring market in the forecast period.

- Rapid urbanization throughout the world and development projects like Smart Cities will catalyse the adoption of smart homes with smart security systems in near future which is likely to propel the market growth for alarm monitoring market.Furthermore, growing installations of home automation systems is a factor wich is expected to boost the growth of the alarm monitoring market in residential segment over the forecast period.

Asia-Pacific to Witness Highest Growth

- Governments are spending on initiatives to make their respective countries more secure. Development of smart cities is one of the significant segments of infrastructural developments, with the application of more surveillance systems, alarming systems, and access controls. In India, the government has initiated the Smart City Mission for development of over 100 cities in the country is driving the market.

- The presence of technologically-sound countries like India, China, and Japan are anticipated to drive this market, owing to the rising demand for automobiles and automation. Additionally, increasing disposable income and changing standards of living will further accelerate the alarm monitoring market

Competitive Landscape

The alarm monitoring market is moderatly fragmented. Players in the market are adopting strategies like expansions, partnerships, collaborations, mergers & acquisitions, new product launches, joint ventures, and others to gain stronghold in the market. Some of the key developments in the area are:

- April 2020 - PPP Taking Care, which is one of the UK’s prominent providers of personal alarms, has implemented multiple new measures in order to protect the safety and health of its clients, their family members and staff members during the coronavirus outbreak. To give the vulnerable individuals, their carers and families with added reassurance during this challenging time, the company is offering its new clients a 30-day home trial with six weeks free alarm monitoring. The provider is also extending its returns period from 15 to 30 days

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