In a bid to bolster its Security Solutions portfolio, Alarm.com Holdings, Inc. (ALRM - Free Report) introduced a new mobile app, Smart Signal. The app is a free upgrade for existing customers and enables users to send an alert to the monitoring station in case of an emergency.
The app is user-friendly, given the fact that a false alarm can be stopped or an actual alert initiated from anywhere. Moreover, Smart Signal sends real-time information to the monitoring station, which enables security professionals to address an emergency and alert the local police or fire department.
We believe that Alarm is poised to benefit from this new app, which is devised to ensure home and workplace safety.
Coming to price performance, shares of Alarm have increased 47.7% over a year against the industry’s decline of 37.4%.
Product Details & Market Growth Prospects
To enable security professionals, prioritize emergencies and reduce false alarms, the app is equipped with two buttons to either verify or cancel the alarm.
The app provides users with video feeds and images of the place they wish to secure, before they decide to trigger an alert. Signals are subsequently sent to the monitoring station upon holding the verify button for a long time. Moreover, holding the cancel button notifies the monitoring station of a false alert.
Smart Signal also features a Panel Panic button, which is used when an emergency fails to trigger an alarm. Notably, a live location of the residence or workplace is sent along with a panic alert to the monitoring station.
Per reports, the security solution market is expected to reach $372.9 billion, witnessing a compounded annual growth rate (CAGR) of 10.2% between 2017 and 2022. We believe that growing demand in the security solution market is expected drive adoption of Alarm’s new offerings.
Alarm.com Holdings, Inc. Price and Consensus