The Alarm Monitoring Market is expected to grow at a CAGR of 5.4% over the forecast period (2021-2026). Increase in crime rate and increasing adoption of security systems that comes with insurance policies for residential and commercial applications are the major factors that are driving the growth of the global alarm monitoring market.
- In addition, availability of technologically advanced security systems, coupled with increasing investment in R&D for improvement in working of alarm monitoring systems are also factors supporting growth of the global market.
- The awareness about security is increasing and consumers have started adopting surveillance and alarming systems for residential purposes to prevent incidences like theft and fire. Also, the growing usage of electronic security systems in public places is driving the growth of the market.
- The escalating demand for automation security systems for both residential and commercial applications is further expected to support the global market for alarm monitoring.However, occurrence of false alarms is a factor that may hamper growth of the global alarm monitoring market.
- In addition, high cost of installation and maintenance of alarm monitoring system is another factor that could affect growth of the target market. Nevertheless, growing adoption of smartphones-based security systems can create high revenue opportunities for players in the target market.
- Moreover, in both good and bad economic times, consumers have been willing to spend on the residential alarm monitoring systems that have been driving consistent growth in the number of accounts across the world. However, the recent outbreak of the COVID-19 crisis is on a completely different scale than any other previous recessions. Not only has it impacted consumer spending, but the forced mass quarantines have inundated almost every country across the world. Consequently, the alarm monitoring industry is also expected to experience a reduction in growth for the remainder of 2020.
Key Market Trends
Residential Segment to Drive Building Alarm Monitoring Market
- Reports of security threats and breaches in residential area are increasing and has therefore led to a rise in demand for enhanced safety and security systems like CCTV cameras, alarm sensors etc. This will boost the demand for alarm monitoring market in the forecast period.
- Rapid urbanization throughout the world and development projects like Smart Cities will catalyse the adoption of smart homes with smart security systems in near future which is likely to propel the market growth for alarm monitoring market.Furthermore, growing installations of home automation systems is a factor wich is expected to boost the growth of the alarm monitoring market in residential segment over the forecast period.
- Demand for Do-It-Yourself (DIY) home security systems where homeowners install and monitor the systems on their own are on the rise. Also growing adoption of smartphones-based alarm systems in residential area are likely to fuel the demand of alarm monitoring market.
Asia-Pacific to Witness Highest Growth
- Governments are spending on initiatives to make their respective countries more secure. Development of smart cities is one of the significant segments of infrastructural developments, with the application of more surveillance systems, alarming systems, and access controls. In India, the government has initiated the Smart City Mission for development of over 100 cities in the country is driving the market.
- The presence of technologically-sound countries like India, China, and Japan are anticipated to drive this market, owing to the rising demand for automobiles and automation. Additionally, increasing disposable income and changing standards of living will further accelerate the alarm monitoring market.
- Furthermore, the rapidly growing urban centers and ever-increasing regional population are likely to further fuel the Asia-Pacific market.Moreover, the rising R&D activities at industry and academic levels are widening the application areas of alarm monitoring systems, which will make it easier to include equipment monitoring, is further driving this regional market.
The alarm monitoring market is moderatly fragmented. Players in the market are adopting strategies like expansions, partnerships, collaborations, mergers & acquisitions, new product launches, joint ventures, and others to gain stronghold in the market. Some of the key developments in the area are:
- April 2020 - PPP Taking Care, which is one of the UK’s prominent providers of personal alarms, has implemented multiple new measures in order to protect the safety and health of its clients, their family members and staff members during the coronavirus outbreak. To give the vulnerable individuals, their carers and families with added reassurance during this challenging time, the company is offering its new clients a 30-day home trial with six weeks free alarm monitoring. The provider is also extending its returns period from 15 to 30 days.
- October 2019 - ABB launched new visual control interface for operational control.It is designed to achieve the highest plant productivity, availability and safety, as well as the best operator efficiency.A key new feature is the unique alarm system which enables plant operators to immediately detect, understand and resolve all types of process situations and disturbances in minimum time.
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Table of Contents
1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Attractive Insurance Policy Discounts for Installing Security Systems
4.3 Market Restraints
4.3.1 False Alarms Due to Variations in Outdoor Physical Environment
4.4 Value Chain Analysis
4.5 Porters Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment of Impact of Covid-19 on the Alarm Monitoring Market
5.1.1 Systems and Hardware
220.127.116.11 Remote Terminal Units (RTUS)
18.104.22.168 Alarms Sensor
22.214.171.124 Communication Networks & Gateways
5.1.2 Software, Services, and Solutions
126.96.36.199 Monitoring Services
188.8.131.52 Installation Services
5.2 Communication Technology
5.2.1 Wired Telecommunication Network
5.2.2 Cellular Wireless Network
5.2.3 Wireless Radio Network
5.2.4 IP Network
5.3 Input Signal
5.4.1 Vehicle Alarm Monitoring
5.4.2 Building Alarm Monitoring
5.4.3 Other Applications
5.5.1 North America
5.5.3 Asia Pacific
5.5.4 Rest of the World
6.1.1 ABB Ltd.
6.1.2 Siemens AG
6.1.3 Rockwell Automation Inc.
6.1.4 Honeywell International Inc.
6.1.5 Schneider Electric SE
6.1.6 ADT Corporation
6.1.7 Diebold Nixdorf
6.1.8 Tyco International Plc
6.1.9 United Technologies Corporation
6.1.10 Johnson Controls International Plc
6.1.11 CPI Security System Inc.
6.1.12 FrontPoint Security Solutions LLC
6.1.13 Samsung Electronics Co Ltd.
A selection of companies mentioned in this report includes:
- ABB Ltd.
- Siemens AG
- Rockwell Automation Inc.
- Honeywell International Inc.
- Schneider Electric SE
- ADT Corporation
- Diebold Nixdorf
- Tyco International Plc
- United Technologies Corporation
- Johnson Controls International Plc
- CPI Security System Inc.
- FrontPoint Security Solutions LLC
- Samsung Electronics Co Ltd.