Alarm Monitoring Market is expected to reach 54.46 Billion USD by 2020
- Written by Pitch Engine
According to a new market research report “Alarm Monitoring Market by Communication Technologies (Wired Telecommunication Network, IP Network & Others), End Users (Vehicle Alarm Monitoring, Building Alarm Monitoring, & Others) Component and Geography - Global forecast to 2020” , the market size of global Alarm Monitoring is expected to reach USD 54.46 Billion by 2020, at a CAGR of 6.73% between 2015 and 2020.
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Alarm monitoring technologies consist of various wired and wireless technologies that enable different alarm monitoring modules in buildings, vehicles, and equipment to connect with a central monitoring station to report an anomaly and the station on the other hand provides instructions on how to handle that situation. It can also be defined as an autonomous security system which communicates, through wired or wireless mediums, and with minimal human assistance. Alarm monitoring has widespread end users and is used extensively in the building alarm monitoring sector for security and safety and also in the equipment monitoring sector for monitoring and proper operation and functioning of critical equipment which includes the medical equipment – for telemedicine and remote patient monitoring among other uses.
This report segments the global alarm monitoring market on the basis of communication technology, input signal, end users, components, and geography. The said market has been segmented based on communication technology into wired telecommunication, wireless cellular, wireless radio technology, and IP. In terms of end users, the market is segmented into equipment monitoring, vehicle monitoring, environment monitoring, and building alarms monitoring. The equipment monitoring has been further segmented on the basis of the type of equipment, which are telecom and network alarm, industrial, medical, and others. The building alarms monitoring sector is also segmented into the type of buildings – residential and non-residential.
Wired telecommunication networks communication technology is expected to be the dominating technology during the forecast period followed by IP networks, which is presumed to grow the fastest because of the high demand for wireless and safe communication. Among the end users, building alarms monitoring is predicted to be the largest sector, among which alarm monitoring in the residential buildings is expected to be the dominant sector, because of the demand for home automation and rising crime rates. In the equipment monitoring end user sector, the monitoring for medical equipment is expected to be the largest sub-sector, due to the rising need for remote patient monitoring.
On the basis of region, the market is segmented into North America, Europe, APAC, and RoW. The region of North America is currently the dominating market and is expected to remain so, although the APAC region is expected to have the highest growth rate.
Apart from the market statistics, the report also includes qualitative analysis such as value chain with detailed process flow diagrams; market dynamics such as drivers, restraints, and opportunities; winning imperatives; and industry trends for the global alarm monitoring market.
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The report profiles the major players along with their SWOT analysis in the global alarm monitoring market. The market has been witnessing a series of new product launch announcements and partnerships across the value chain. Some of the major industry players in the said market are ABB Ltd (Switzerland), The ADT Corporation (U.S.), Diebold Inc. (U.S.), Schneider Electric (France), Siemens AG (Germany), Tyco International (U.S.), and UTC (U.S.) among others.
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