North America to hold a Major Share of the Alarm Monitoring Market by 2023

The Alarm Monitoring Market is expected to reach USD 59.83 billion by 2023 from USD 42.88 billion in 2017, at a CAGR of 5.5% during the forecast period.

 

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Alarm monitoring is a service in which a central monitoring station (CMS) professionally monitors alarm systems located in buildings, equipment, or vehicles. In place of a monthly recurring fee, the alarm systems are monitored. If an alarm is triggered, the CMS notifies security authorities or the property owner. Alarm monitoring is used to detect intrusion, fire, broken glass, or growing carbon monoxide levels within a building. 

 

The objectives of the report includes forecast of the Alarm Monitoring market size in terms of Offering (Systems Hardware, Services), Input Signal (Discrete, Protocol), Communication Technology (Wired, Cellular, IP), Application (Building, Equipment, Vehicle Alarm Monitoring), and Geography.

 

The alarm monitoring market by protocol input signal  to grow at the highest CAGR during 2017–2023

Protocol inputs are electrical signals, which are formatted into a formal code that represents more complex information than that in case of discrete or analog signals. There are different types of protocols for transmitting telecom alarm data. The most widely used telemetry protocols are open standards such as SNMP, TL1, ASCII, and TBOS. The alarm monitoring market by protocol input signal is expected to grow at the highest CAGR during the forecast period.

 

The alarm monitoring market by cellular wireless network communication technology to grow at the highest rate during forecast period

Cellular wireless network is predicted to develop at the fastest rate among all communication technologies in the alarm monitoring market during the forecast period. Control panels and alarm monitoring centres are increasingly using cellular wireless networks for communication. It is mostly used as a backup mechanism for connectivity in the event that the major lines fail. The market for cellular wireless network-based alarm monitoring is predicted to increase as cellular networks become more reliable. 

 

North America to hold a major share of the alarm monitoring market in 2016

During the projected period, North America is expected to dominate the alarm monitoring market. Because it is home to some of the world's largest multinational organisations, North America is at the forefront of the evolution and development of alarm monitoring technologies. This area is home to the majority of the major players in the global alarm monitoring industry.
In terms of new and better technologies, increased R&D in the fields of remote monitoring, home automation systems, and the Internet of Things is a major element driving market expansion in North America. 

 

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ADT (US), Moni (US), Honeywell (US), Securitas (Sweden), UTC (US), Schneider (France), Johnson Controls (US), Vivint (US), Vector Security (US), and Bosch (Germany) are some of the major companies dominating the alarm monitoring market.