Rising Security Issues & Focus on Vulnerability Management Drives the Alarm Monitoring Services Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) February 25, 2015 -- Follow us on LinkedIn – Alarm monitoring involves continuous communication between a central monitoring station and a local on premise security system installed in residential and commercial buildings to prevent occurrences such as unauthorized intrusions and/or fire. Over the years, the global alarm monitoring services market has been gathering significant growth, traction encouraged by rising crime rates in the society. Incremental technology developments and product sophistication have encouraged growth and adoption of alarm monitoring products. The market is also poised to benefit from the growing government expenditure on security and public safety in the wake of the growing threat of terrorism. Commercial businesses are also prioritizing safety and security of physical assets to prevent losses caused by theft, misappropriation of assets, and fire breakout at the workplace.
The recovery of the housing sector and growing awareness among homeowners over the importance of home security are driving sales of efficient and cost-effective security systems. Emerging technologies which enable remote monitoring of buildings are becoming a standard feature in ‘smart home’ offerings. Developments in remote monitoring capabilities are critical in encouraging the reach of security services. The global alarm monitoring market is characterized by intense competition and a high degree of fragmentation. The business opportunities offered by the rising sales of smart home devices are encouraging companies to expand their product and service portfolios. Telecom and IT companies are additionally foraying into the market, offering stiff cost competition to conventional alarm monitoring companies. Residential intrusion and fire monitoring services represents the largest market segment with growth supported by improving economy, increase in home ownership rates and rise in new home construction.
As stated by the new market research report on Alarm Monitoring Services, Europe and North America represent the largest markets worldwide. Developing countries in Asia-Pacific, Latin America and the Middle East are forecast to fuel future growth in the market, led by the widening wealth gap and the resulting rise in crime rates. Other factors driving growth in these regions include rapid urbanization, expanding base of middle class population preferring well provisioned houses, increase in foreign investments, and rise in business activities.
Major players covered in the report include Ademco (Far East) Pte Ltd., ADT Security Services, Inc., Canadian Corps of Commissionaires, Central Security Patrols Co., Ltd., Chubb Fire & Security Ltd., G4S PLC, Global Security Solutions, Guardian Protection Services, Inc., Honeywell Security Products Americas, Monitronics International, Inc., Prosegur compania de Seguridad, Protection 1 Inc., Reliance Protectron Inc., Secom Co., Ltd., Securitas AB, Siemens AG, Slomin's, Inc., Sohgo Security Services Company Ltd., Stanley Convergent Security Solutions, Inc., Tyco, United Technologies Building & Industrial Systems, Vector Security, Inc., and Verisure Holding AB, Vivint, Inc., among others.
The research report titled “Alarm Monitoring Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Segments analyzed include Intrusion & Fire Alarm Monitoring Services (Residential, and Non-Residential), and Others (Includes Vehicular Alarm Monitoring Services and PERS (Personal Emergency Response Service) Monitoring).
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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