WebsiteGear Logo Log In
New User? Sign Up
About | Contact | FAQ
  Home News Technology Internet Security Wednesday, September 23, 2020 
Add Press Release News | News Feeds Feeds | Email This News Email


Global Alarm Monitoring Service Revenues to Exceed $63 Billion in 2024
Thursday, August 6, 2020

CLEVELAND, July 29, 2020 /PRNewswire/ -- According to the new study Global Security Services, global alarm monitoring service revenues are forecast to rise 3.8% per year to $63.1 billion in 2024. Alarm monitoring tends to hold above average market share and growth potential in high-income nations, as investment in technological solutions is common and high labor costs favor remote monitoring over on-site guarding.

Revenue growth will be fueled by increased penetration of high-value services, particularly in the commercial market. The service offering the greatest potential boost to demand is video monitoring, which significantly speeds up alarm verification, resulting in quicker (and thus more effective) law enforcement response:

    --  While video monitoring in its basic form is not particularly complex,
        data transmission and storage costs have traditionally made video
        surveillance more cost-effective as a component of on-site security
        response, rather than an element monitored by a central station.
    --  As data costs have fallen, alarm monitoring providers have increasingly
        emphasized outside video monitoring as a value-added offering.

Greater penetration of household monitoring equipment associated with the Internet of Things will boost revenues in the residential market. To an extent, emerging household monitoring systems will compete with outside alarm monitoring services, as the rising prevalence of smartphones and tablet computers is making self-monitoring more viable.

About The Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.

Press Contact:
Corinne Gangloff
+1 440.842.2400
cgangloff@freedoniagroup.com

View original content to download multimedia:http://www.prnewswire.com/news-releases/global-alarm-monitoring-service-revenues-to-exceed-63-billion-in-2024-301102486.html

SOURCE The Freedonia Group



Email This News Email | Submit To Slashdot Slashdot | Submit To Digg.com Digg | Submit To del.icio.us Del.icio.us | News Feeds Feeds

RELATED NEWS ARTICLES
Nav KnowBe4 Kicks Off Stay Safe Online Campaign With New Video Release | Sep 23, 2020
Nav CUJO AI Digital Life Protection Services Deployed at Scale Across Five Leading North American Operators, Now Available in Over 25 Million Homes | Sep 23, 2020
Nav bp and Microsoft form strategic partnership to drive digital energy innovation and advance net zero goals | Sep 23, 2020
Nav Achievers 2020 Culture Report Reveals Almost Half of All Employees Don't Feel Recognized for Work Done During Pandemic | Sep 23, 2020
Nav Frontier Technologies Identifies New Vulnerability for Data Breach Among Building Systems and a Solution for Managing the Risk | Sep 23, 2020
Nav COVID-19 spam, phishing emails, plagued users in first half of 2020 | Sep 23, 2020
Nav 73 Percent of Business Executives Agree Companies Have More Responsibility Than Ever Before to Take Stands on Social Justice Issues, According to Research by Porter Novella | Sep 23, 2020
Nav Dashlane Launches New iOS App With Improved Performance | Sep 23, 2020
Nav SessionGuardian Enterprise Reduces Work from Home Cyber-Security Threats for Businesses | Sep 23, 2020
Nav Silicon Labs and Amazon Collaborate on Sidewalk, a New Shared Network for IoT Consumer Devices | Sep 23, 2020
NEWS SEARCH

FEATURED NEWS | POPULAR NEWS
Submit News | View More News View More News