CHICAGO, Oct. 04, 2019 (GLOBE NEWSWIRE) -- The overall alarm monitoring market 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. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023. 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 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.
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The objectives of this study include:
- To define, describe, segment, and forecast the market, in terms of value, on the basis of offering, communication technology, input signal, end-use application, and geography
- To provide detailed information regarding the major factors (drivers, restraints, challenges, and opportunities) influencing the growth of the market
- To provide a detailed overview of the value chain pertaining to the market
- To strategically profile key players in the alarm monitoring market and analyze competitive developments, such as joint ventures, mergers & acquisitions, product launches and developments, and R&D in the market
Advancements in technologies have made it possible for us to control lighting, heating, electronic devices, and security systems in our houses remotely with the help of either a smartphone, a tablet, or a computer. Increasing popularity of smart homes has opened up a whole new avenue of opportunities for the players in the alarm monitoring market. These companies not just provide monitoring solutions to prevent burglary or fire but also offer solutions to monitor home temperature and detect carbon monoxide and flood, among others. The growth in the smart homes market is likely to propel the growth of the alarm monitoring market.
Browse and in-depth TOC on “alarm monitoring market”
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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.
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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.
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.
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