Alarm monitoring is a system used for the security of residential and commercial purposes and also supports business continuity. The modern applications of alarm monitoring are CCTV cameras, hold up an alarm system, fire alarm, and others, which are informed directly to the authorized central station in case of any emergency. The central station uses various software, computers, mobile lines, and other advanced technology coming up that smoothen the function and control everything and respond in real-time.
The global Alarm monitoring market expected to grow at a substantial rate in the forecast period from 2020-2027. Owing to, advance technology used for safety and control of fire and burglar alarm, increasing disposable income, rising infrastructure development, increasing investment in the R&D department.
Moreover, rising industrial and commercial sectors has given a rise in the adoption of alarm monitoring systems in the market. Additionally, the rising number of crime rates, installation of alarm monitoring system in the smart homes have reduced the chances of high-intensity hazards. During any medical emergency, the medical alarm instantly sends the location to the control station, and instant medical personnel provided to the patients.
Furthermore, the video surveillance system detects various events through the realization of the alarm function. When an unexpected event occurs, it triggers the surveillance camera and starts recording. In this way, operators can make timely judgments about whether to pay attention to these accidents, such as personnel intrusion, and they do not need to go to the scene of the accident to verify. Thus, with the advent of more effective video compression technology, video analysis will provide more help for alarm systems.
Insurance companies provide insurance policies to the residential and commercial customers while installation of alarm monitoring system in their places. Plans offer special insurance discounts while the purchase of home security system customers can directly connect to the near fire station and police station in case of emergency. Thus, the demand for alarm monitoring markets is increasing in the forecast period.
The discounts on the alarm monitoring system allow the customer to avail of the additional service other than monitoring and controlling. In case of emergency, the customer home address automatically sent to the nearest center station and police station, which helps in reduces the chances of high-intensity accidents.
The demand for alarm monitoring has increased due to the advance technology and rising security need in banks, smart homes, roads, and other commercial places. The security system provides evidence and also helps in lowering the crimes in banks, homes. Moreover, different alarms installed in homes, offices, banks, which are managed by directly the central station. So, in case of any mishappening, there should be someone available to help.
Based on Offering, the global Alarm Monitoring market classified into Systems and hardware, software, services, and solutions. The software, services, and solutions segment dominate the market of alarm monitoring in the forecast period as well. They owe to the revenue generation from monthly charges during the installation of any alarm. Moreover, many players provide special discounts to increase their customer base by offering additional services or discounts and sometimes install equipment free of cost.
Based on Input Signal, the global Alarm Monitoring market classified into Discrete, Analog, Protocol. The protocol input signal segment expected to bolster the market share in the forecast period. Owing to increasing cybersecurity and increasing crime rates. Moreover, protocol input is preferred over discrete and analog input as protocol inputs generate an electric signal and have formal code language that effortlessly interprets the complex information. Therefore, the demand for alarm monitoring in the global market.
Based on Communication Technology, the global Alarm Monitoring market classified into Wired telecommunication network, Cellular wireless network, Wireless radio network, IP network. The wired telecommunication network dominates the market share of the alarm monitoring market in the forecast period from 2020-2027 as the reliability on the wired communication connection, security, feasibility led to increasing the dominance of the global alarm monitoring market.
Based on application, the global Alarm Monitoring market segmented into Equipment monitoring, Vehicle alarm monitoring, Building alarm monitoring, Environment monitoring. The Building alarm monitoring segment expected to capture the largest market share of the global alarm monitoring market in the forecast period. Owing to its features that detect the emergency like a fire, flood, and smoke instantly and send signal to the nearest police station, fire station. Therefore, building alarm monitoring is extensively used and installed in every commercial building under the protocols made by the government for safety and security concerns.
Based on geography, the global Alarm Monitoring market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The North America region expected to dominate the global alarm monitoring market in the forecast period from 2020-2027. Owing to technology advance structure, IoT, rising number of smart homes, and increased investment in the R&D helps in raising the demand for a security system, which will eventually increase the market share of the alarm monitoring market. Moreover, with a variety of alarm available in the market such as medical alarm, fire alarm, CCTV cameras, anti-theft alarm, able to provide more accurate alarm information is an essential factor in the rapid growth of such products.
Companies such as ADT, Moni, Honeywell, Securitas, UTC, Schneider, Johnson Controls, Vivint, Vector Security, and Bosch and others are the key players in global Alarm Monitoring market.
By Input Signal
By Communication Technology
The Alarm Monitoring Market is expanding at a CAGR of 5.9% over the forecast period.
The Asia Pacific region is growing at the highest growth rate over the forecast period.
By offerings, the alarm monitoring market is segmented as Systems and hardware, software, services, and solutions.
The overall alarm monitoring market was estimated at USD 52.3 Billion in 2020 and is forecasted to reach USD 79.2 Billion by 2027.
Attractive insurance policy discounts for positioning security systems, Advance technology, Rapid urbanization throughout the world, and others are the factors driving the overall growth of the Global Alarm Monitoring Market.