The report "Alarm
Monitoring Market by
Offering (Systems Hardware, Services), Input Signal (Discrete, Protocol),
Communication Technology (Wired, Cellular, IP), Application (Building,
Equipment, Vehicle Alarm Monitoring), and Geography - Global Forecast to
2023", was valued at USD
42.88 billion in 2017 and is expected to reach USD 59.83 billion by 2023, at a
CAGR of 5.5% during the forecast period.
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Alarm monitoring is a service wherein alarm systems
installed in buildings, equipment, or vehicles are professionally monitored by
a central monitoring station (CMS). The alarm systems are monitored in lieu of
a monthly recurring charge. The CMS alerts security agencies or the property owner
incase an alarm is triggered. Alarm monitoring is carried out to detect
intrusion, fire, glass break, or rising carbon monoxide levels inside a
premise.
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
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
North America is expected to dominate the alarm
monitoring market during the forecast period. 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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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.
