The overall alarm monitoring market is expected to be valued at USD 45.70 Billion in 2018 and is likely to reach USD 59.83 Billion by 2023, at a CAGR 5.5% between 2018 and 2023. The major factors driving the growth of the market include attractive insurance policy discounts for installing security systems and increasing popularity of smart homes and home automation systems.
Software, services, and solutions held a major share
of the overall alarm monitoring market in 2017. The software, services, and
solutions segment dominates the market as most players in this market
generate revenues through monitoring and installation fees, which they obtain
as monthly recurring charges. Many players in this market offer free equipment
and installation to expand their customer base.
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Among all communication technologies, wired
telecommunication network held the largest share of the overall alarm
monitoring market in 2017. Wired telecommunication is the most commonly used
communication technology in the existing alarm monitoring systems; its
reliability is a major reason of its dominating presence.
Among all end-use applications, building alarm
monitoring held the largest share of the overall alarm monitoring market in
2017. Alarm monitoring systems installed in buildings are designed to detect
emergency situations such as fire, smoke, intrusion, and flood. Residential
buildings form a major segment of the market for building alarm monitoring; a
major part of the overall revenue in this segment is generated through monthly
recurring charges, which alarm monitoring companies obtain in lieu of
monitoring services. Most companies catering to residential customers do not
charge for the equipment or installation costs; however; they charge a monthly
fee for monitoring.
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. With growing cyber security concerns,
protocol signals are preferred over analog and discrete signals as these
signals provide more security due to encryption.
North America is in the forefront in the evolution
and development of alarm monitoring technology as this region is home to some
of the largest multinational corporations in the world. Most leading players
operating in the global alarm monitoring market are based in this
region. Increased R&D in the field of remote monitoring, home automation
systems, and Internet of Things, in terms of new and improved technologies, is
a major factor driving market growth in North America. The emerging R&D activities
at the academic and industry levels are broadening the application areas of
alarm monitoring to include equipment monitoring, building alarm monitoring,
environment monitoring, and medical equipment monitoring in North America. The
market in APAC is expected to grow at the highest rate between 2018 and 2023 as
the region is highly concerned about the increase in security spending owing to
the ever-growing threat landscape in the region. In the recent years, APAC has
undergone tremendous economic growth, political transformations, and social
changes.
Some of the major players operating in the alarm
monitoring market are ADT (US), Moni (US), Honeywell US), Securitas (Sweden),
UTC (US), Schneider (France), Johnson Controls (US), Vivint (US), Vector Security
(US), and Bosch (Germany).
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