Alarm Monitoring Market Growing at the Highest Rate during Forecast Period

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 professionally monitors alarm systems located in buildings, equipment, or vehicles (CMS). 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

Electrical signals are organised into a formal code that contains more complicated information than discrete or analogue signals in protocol inputs. Telecom alarm data can be transmitted via a variety of protocols.

Open standards like SNMP, TL1, ASCII, and TBOS are the most extensively used telemetry protocols.

During the forecast period, the alarm monitoring market by protocol input signal is predicted to develop at the fastest CAGR.

 

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

Among all the communications technology of alarm monitoring market, cellular wireless network expected to grow with the highest CAGR during forecast period. Cellular wireless network is increasingly being used for connectivity between control panels and alarm monitoring centers. It is mostly used as a backup system for connectivity incase primary lines go down. With the increasing reliability of cellular networks, the market for cellular wireless network-based alarm monitoring is expected to grow.

 

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.