Alarm Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Alarm Monitoring Market is segmented by Offering (Hardware (Remote Terminal Units (RTUS), Alarms Sensor, Communication Networks and Gateways), Software, Services), Communication Technology (Wired Telecommunication Network, Cellular Wireless Network, Wireless Radio Network, and, IP Network), Application (Building Alarm Monitoring, Vehicle Alarm Monitoring), and Geography.

Alarm Monitoring Industry Overview

Alarm Monitoring Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.2 %

Major Players

Alarm Monitoring Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Alarm Monitoring Market Analysis

The Alarm Monitoring Market is expected to grow at a CAGR of 6.2% over the forecast period. An 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.

  • Numerous technological advancements, especially in communications technology, led to a transition from traditional monitoring over telephone lines to monitoring systems that exploit digital, wireless, and cellular communications to provide better, more reliable, and more convenient monitoring to consumers. Moreover, with the advent of the Internet of Things, common household objects are increasingly being connected to the internet, enabling them to transmit and receive different data types.
  • Security system technology is constantly evolving, and newer technologies are continuously innovated to improve the security of business security systems through the constant augmentation of camera processors and alarm sensors that feature an extensive suite of new alerts and smart features that make using these systems easier. These new features and technologies are making the security of homes and commercial buildings more effective, thereby driving the growth of the studied market.
  • Moreover, the integration of security systems in mobiles gained popularity in the last few years, and smart features are becoming more integral to home and commercial security efforts. While remote monitoring via mobile devices and the ability to arm or disarm a system remotely was popular for quite some time, multiple systems and manufacturers are integrating additional features, such as alarm triggers and panic buttons, into their mobile apps. This enables the home and commercial system users to trigger the alarm and alert the monitoring station of potential emergencies from their mobile devices.
  • Smart cities are growing globally, and urbanization is enabling their growth. According to the United Nations, the proportion of people living in urban areas is expected to increase to 66% by 2050. According to the projections provided by the United Nations, in multiple countries, such as India (404 million), China (292 million), and Nigeria (212 million), urban dwellers are expected to increase in number by 2050. Increased spending on smart cities, technological developments, urbanization, and government support and funding are leading to an increased number of smart city projects. Technology led to the growth in the use of video surveillance cameras in smart buildings to prevent crimes. The new Data Protection Law is more demanding and guarantees people’s privacy. This is expected to influence the demand for the alarm monitoring market over the forecast period.
  • The development of smart cities needs to be complemented by the adoption of security measures by equally invested public institutions, such as schools, colleges, and banks. In September 2021, Aalborg University in Denmark installed a security system featuring intrusion alarms, video monitoring systems, and access software that utilize access cards for any individual across all its buildings. All the data was strategized to be protected on campus, in the university’s private servers, and managed from a central control facility in Aarhus, where a centralized security platform is used to monitor video footage and alarm systems. Furthermore, their decision to install the system allowed them to fit environmental sensors to keep track of any relevant metrics across the campus. To complete the installation, security professionals from G4S patrol the premises with a tablet device that acts as a portal into the monitoring software, providing instant alerts in case of emergencies.
  • Moreover, the recent outbreak of the COVID-19 pandemic is completely different from any previous recessions. It impacted consumer spending, and the forced mass quarantines inundated almost every country worldwide. The consumer’s propensity to adopt security solutions is on the rise due to the pandemic. The aspect of a ‘smart building’ looks more practical in the new normal post-COVID-19. 

Alarm Monitoring Industry Segments

Alarm monitoring is a process of communicating quickly between the security systems and the central station of the security provider. The system offers services to detect fire, burglary, and residential alarm systems. The alarm monitoring system records an emergency event and accordingly sends signals to the central monitoring system. After receiving the signals, the appropriate authorities are then sent to the location to tackle the emergency. These monitoring systems use radio channels, computers, telephones, and trained staff to monitor the security system of the customers and reciprocate it to the authorities.

The Alarm Monitoring Market is segmented by Offering (Hardware, Software, Services), Communication Technology (Wired Telecommunication Network, Cellular Wireless Network, Wireless Radio Network and, IP Network), Application (Building Alarm Monitoring, Vehicle Alarm Monitoring), and Geography.

By Offering
Hardware
Remote Terminal Units (RTUS)
Alarms Sensor
Communication Networks and Gateways
Other Hardware
Software
Services (Monitoring Services, Installation Services)
By Communication Technology
Wired Telecommunication Network
Cellular Wireless Network
Wireless Radio Network
IP Network
By Application
Vehicle Alarm Monitoring
Building Alarm Monitoring
Other Applications
By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Alarm Monitoring Market Trends

This section covers the major market trends shaping the Alarm Monitoring Market according to our research experts:

Vehicle Alarm Monitoring Segment is Expected to Drive the Market's Growth

  • The automotive industry is witnessing robust growth in the adoption of electric vehicles globally. For instance, according to EIA, the sales of electric vehicles (EVs) doubled in 2021 from 2020 to a new record of 6.6 million. In 2012, just 120 000 electric cars were sold worldwide. However, nearly 10% of global car sales were electric in 2021, four times the market share in 2019. Global sales of electric cars kept rising strongly in 2022, with 2 million sold in the first quarter, up 75% from the same period in 2021.
  • The National Transportation Safety Board and the Bureau of Transportation Statistics provided data for the study in which Fifty-two electric vehicles were reported to have caught fire in the United States in 2021. In addition, 16,051 fires involving hybrid vehicles and 199,533 involving vehicles with internal combustion engines were reported.
  • In April 2022, a Canada-based startup MakerMaxdeveloped testing devices and algorithms that can arrest battery fires and consequent property loss and lives. The announcement comes amid a series of fire incidents in electric vehicles (EVs). MakerMaxsaid also collaborates with battery manufacturers to place specially designed pressure, temperature, and gas sensors at the vulnerable zones in the battery to create three levels of a "wifi-enabled audio-visual alarm system" that can depict the cautious, serious, or dangerous condition of the battery.
  • The industry is witnessing an upsurge in the launch of advanced and innovative products and solutions to cater to the evolving needs of consumers. For instance, in March 2021, Alarm.com launched a solution to connect users' cars and homes through its integrated security platform to help people stay informed about their vehicle's status and unlock more home automation capabilities. Alarm.com Connected Car, developed in collaboration with vehicle telematics solutions pioneer CalAm, offers all the benefits of a vehicle monitoring solution, in addition to the unique benefit of deep integration with the Alarm.com smart home security system. Vehicle insights, notifications, and home automation features are accessible through one interface – the Alarm.com mobile app.
  • In January 2022, Ford announced that it is working with ADT Security Services to help prevent crime. The joint venture called Canopy aims to bring real-time monitoring for automobiles similar to what ADT offers with houses and businesses. To that extent, a bevy of cameras and sensors would detect activity around the vehicle. In the event of suspicious behavior, pre-recorded warnings can be broadcast along with other audible alerts. In the future, live warnings will be available via two-way communication through an app. Vehicle owners would be able to monitor the live camera feeds, and the system would also trigger notifications in the event of suspicious activity.
Alarm Monitoring Market - Estimated Plug-in Electric Light Vehicle Sales, in Million Units, Worldwide, 2015-2021

North America is Expected to Hold a Major Market Share

  • The United States is expected to be the largest market for alarm monitoring in the North American region. Stringent government regulations and higher penetration levels of advanced technologies among commercial and residential users are some of the major drivers enabling new sales growth in the country. Intelligent security technology solutions can help in monitoring a building and warn about unauthorized entry. These systems can supervise safe building evacuation, emergency call stations, and detection alarms for water, smoke, and gas leaks.
  • Smart city projects gained momentum over the last decade as more municipalities across the region launched a wide variety of digital transformation initiatives. Municipalities realize the benefits of utilizing technology to manage assets and resources that enhance city operations. With multiple devices connected to the IoT, smart city technology allows officials to understand what is happening around their network by monitoring infrastructure and community.
  • There are plenty of investments in commercial buildings in the United States. According to Construct Connect and Oxford Economics, in 2022, the value of commercial construction by retail will account for USD 19.64 billion, besides USD 14.96 billion for hotels, USD 12.05 billion for government offices, and USD 9.66 billion for sports stadiums. The robust investments directed toward commercial projects create a need for smart building solutions for safety. The country also has some of the best emergency response infrastructure globally. Fire alarms and smoke detectors are mandated by several local and central authorities that are directly connected to a national grid for the rapid detection of emergencies. According to National Fire Protection Association (NFPA), it is estimated that a fire department in the United States responds to a fire incident every 24 seconds, owing to well-established hardware and integration to a connected network.
  • Despite such an infrastructural advantage, NFPA indicates that a fire incident occurs in a structure at the rate of every 63 seconds, and a home fire takes place every 88 seconds. This is one of the major factors driving the installation of advanced solutions based on IoT technologies and sensor fusion concepts. The NFPA estimates suggest that despite several government efforts, many people die annually in residential fires in the United States, as they live in homes with no smoke alarms or working smoke alarms. Several home-grown companies are working toward creating more affordable technologies to address such issues.
  • Vendors are ubiquitous in the studied region. Ring, an IoT-based alarm and doorbell company owned by Amazon, is attempting to expand its product portfolio through additional product releases. A significant upgrade came through in September 2021 through a feature called ‘Virtual Security Guard,’ an independent subscription service designed to mimic the benefits of having an on-site security guard. The offering is presented as a collaboration with Rapid Response. This physical security personnel company acts as the professional monitoring unit for the service, responding to motion alerts and providing interventions, including triggering sirens and lights, using two-way talk features, and dispatching emergency services when necessary.
Alarm Monitoring Market - Growth Rate by Region (2022-2027)

Alarm Monitoring Market Competitor Analysis

The Alarm Monitoring Market is moderately fragmented. Players in the market are adopting strategies like expansions, partnerships, collaborations, mergers & acquisitions, new product launches, joint ventures, and others to gain a stronghold in the market. Some of the key developments in the area are:

  • June 2021 - Johnson Controls, a provider of smart and sustainable buildings and architect of the OpenBlue digital connected platforms, introduced the reimagined web-based client for the Tyco Software House C•CURE 9000 security and event management system. With the addition of enhanced functionality for alarm monitoring to the streamlined search and filtering capabilities, users can conduct personnel administration and alarm monitoring for their C•CURE 9000 system from anywhere, utilizing any PC with a web browser or tablet.
  • June 2021 - Honeywell, a global player in industrial cybersecurity, announced the introduction of the Honeywell Advanced Monitoring and Incident Response (AMIR) service. The service offers 24/7 operational technology (OT) cybersecurity detection and rapid response for current and emerging cyber threats. AMIR is part of Honeywell Forge Managed Security Services (MSS), end-to-end security as a service solution that facilitates the protection of OT environments, control systems, and operations.

Alarm Monitoring Market Top Players

  1. ABB Ltd.

  2. Siemens AG

  3. Rockwell Automation Inc.

  4. Honeywell International Inc.

  5. Schneider Electric SE

*Disclaimer: Major Players sorted in no particular order

Alarm Monitoring Market Concentration

Alarm Monitoring Market Recent Developments

  • February 2022 - Siemens Building Technologies Division announced a partnership with Skanska Walsh Joint Venture, the design-build contractor for the redevelopment of New York’s La Guardia Airport’s Central Terminal B, to deploy a Siemens intelligent infrastructure solution that comprises integrated building automation and fire/life safety system for the new central terminal complex. The new Terminal B would be more efficient and safer than its predecessor, built in 1964. Siemens’ Desigo CC integrated building management platform would monitor the building automation, facilitating dynamic control of the facility’s systems to respond to the changing needs of the terminal’s operations. The Desigo Fire XLS-V fire alarm panel with voice capability would be at the heart of the fire alarm system, operating in Terminal B and the central plant.
  • December 2021 - Siemens Shooter Detection Systems, Alarm.com company and gunshot detection provider, integrated technologies to enhance public safety in an active shooter situation. According to the companies, the integration between the Guardian Indoor Active Shooter Detection System and Surveillance Video system software would enable organizations to alert building security by triggering alarms automatically, associate live video feeds with real-time tracking of identified shots on building floor plans, and take other automated actions when gunfire is detected within a building.

Alarm Monitoring Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power Of Suppliers

      2. 4.3.2 Bargaining Power Of Buyers

      3. 4.3.3 Threat Of New Entrants

      4. 4.3.4 Threat Of Substitutes

      5. 4.3.5 Intensity Of Competitive Rivalry

    4. 4.4 Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

    2. 5.2 Market Restraints

    3. 5.3 Analysis on Input Signals for Alarm Monitoring

      1. 5.3.1 Discrete

      2. 5.3.2 Analog

      3. 5.3.3 Protocol

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Offering

      1. 6.1.1 Hardware

        1. 6.1.1.1 Remote Terminal Units (RTUS)

        2. 6.1.1.2 Alarms Sensor

        3. 6.1.1.3 Communication Networks and Gateways

        4. 6.1.1.4 Other Hardware

      2. 6.1.2 Software

      3. 6.1.3 Services (Monitoring Services, Installation Services)

    2. 6.2 By Communication Technology

      1. 6.2.1 Wired Telecommunication Network

      2. 6.2.2 Cellular Wireless Network

      3. 6.2.3 Wireless Radio Network

      4. 6.2.4 IP Network

    3. 6.3 By Application

      1. 6.3.1 Vehicle Alarm Monitoring

      2. 6.3.2 Building Alarm Monitoring

      3. 6.3.3 Other Applications

    4. 6.4 By Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia Pacific

      4. 6.4.4 Middle East and Africa

      5. 6.4.5 Latin America

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 ABB Ltd.

      2. 7.1.2 Siemens AG

      3. 7.1.3 Rockwell Automation Inc.

      4. 7.1.4 Honeywell International Inc.

      5. 7.1.5 Schneider Electric SE

      6. 7.1.6 ADT Corporation

      7. 7.1.7 Diebold Nixdorf

      8. 7.1.8 Tyco International Plc

      9. 7.1.9 UTC Fire & Security (Carrier Global Corporation)

      10. 7.1.10 Johnson Controls International Plc

      11. 7.1.11 CPI Security System Inc.

      12. 7.1.12 Samsung Electronics Co Ltd.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

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Alarm Monitoring Market Research FAQs

The Alarm Monitoring Market is studied from 2018 - 2028.

The Alarm Monitoring Market is growing at a CAGR of 6.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

ABB Ltd., Siemens AG, Rockwell Automation Inc., Honeywell International Inc. , Schneider Electric SE are the major companies operating in Alarm Monitoring Market.

Alarm Monitoring Industry Reports

In-depth industry statistics and market share insights of the Alarm Monitoring sector for 2020, 2021, and 2022. The Alarm Monitoring research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Alarm Monitoring report PDF.

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