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.
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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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.
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 cybersecurity 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.
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).
Download PDF:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110120052
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.
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 cybersecurity 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.
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