Global Alarm Monitoring Market was valued US$ 44.12 Bn in 2019 and is expected to reach US$ 68.35 Bn by 2027 at a CAGR of 5.62% during the forecast period.
Increasing adoption of security systems that comes with insurance policies for residential and commercial applications is a major factor driving growth of global alarm monitoring market. 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 market. Furthermore, growing installations of home automation systems is a factor expected to boost growth of the global alarm monitoring market over the forecast period.However, high cost of installation and maintenance of alarm monitoring systems is obstructing the growth of the market.
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