Forecast: Alarm Monitoring Market Worth Approximately $55B by 2020, Report Says
Wired telecommunication networks communications technology expected to be most dominant sector.
A new market research report expects the global alarm monitoring market to reach $54.46 billion by 2020 at a CAGR of 6.73% between 2015 and 2020.
The research report, “Alarm Monitoring Market by Communication Technologies, End Users Component and Geography — Global forecast by 2020,” 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.
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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.
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. The station, on the other hand, provides instructions on how to handle that situation.
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