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The global market for alarm monitoring software is driven by the increasing crime rates and the rising incidences of fire-related accidents. In addition, the improved living standards and the increasing purchasing power of consumers are expected to propel the deployment of alarm monitoring software to enhance their safety and improve the protection of their belongings. Furthermore, the rapid expansion of information and communication technologies, along with the software’s remote accessibility and time and cost saving benefits are also expected to propel the growth of the market. Additionally, the stringent security regulations, especially in developed regions, and the large-scale deployment of cloud-based alarm monitoring software is also expected to invigorate the market in the forecast period.
The growing demand for efficient alarm monitoring software is leading the key market players to develop technologies that can deliver exceptional performance, which is estimated to aid the market growth in the forecast period. For instance, in February 2022, Optex Systems Holdings, Inc. (OTCMKTS: OPXS) introduced its new cloud-based alarm monitoring software solution called Genio Map Cloud that provides a one-time solution to all the security issues, along with remote accessibility via internet connection. Its beneficial properties include cost effectiveness, user-friendliness, and the ability to provide real time data of tracked events. In addition, another leading vendor of alarm monitoring software, Honeywell International Inc. (NASDAQ: HON), in September 2020, announced the release of ProWatch Integrated Security Suite, a web-based software platform that helps protect individuals and property through monitoring and responding to alarms, while also offering optimised productivity, reduced costs, and compliance to industrial regulations. Such developments are expected to invigorate the alarm monitoring software industry growth in the forecast period.
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The major players in the global alarm monitoring software market are ABB Ltd, Siemens AG, Rockwell Automation, Inc., Honeywell International Inc., Schneider Electric SE, ADT Inc., Axis Communications AB, and Tyco International plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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