Study Sees Alarm Monitoring Market Passing $13B Mark by 2010
CLEVELAND
A research group says the demand in the United States for alarm monitoring services will grow by 3.2 percent yearly to $13.5 billion by 2010. The Freedonia Group, based in Cleveland, says that despite falling crime rates, end users perceive a high risk of crime and worry that public safety agencies are overburdened.
In the new study, “Private Security Services,” released this month, Freedonia researchers say alarm monitoring and security guard services account for nearly two-thirds of the overall private security services revenues in the U.S. However, they also see the slowest rate of growth to be in alarm monitoring, with armored transport seeing the most growth – an annual rate of 5.9 percent – during the next four years. Nevertheless, Freedonia says that systems integration and security consulting services have the potential to have the strongest growth of all in the coming years.
The study says the alarm monitoring industry will be boosted by aging baby boomers eager to get more immediate help as they become senior citizens.
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