Increasing Threat Perception and Advanced Products to Fuel Demand for Alarm Monitoring Services, According to New Report by Global Industry Analysts, Inc.
San Jose, California, Feb 11, 2013 (PRWeb.com via COMTEX) --
Follow us on LinkedIn - Alarm monitoring, recognized as one of oldest segments in the security market, offers assurance to residential and commercial consumers that their assets are being monitored continuously to prevent any untoward incidents such as intrusions or fire. Over the years, the global alarm monitoring services market has been garnering considerable business driven by rising concerns about crime in society. Incremental technology development and increasing product sophistication coupled with fall in prices have assisted in a rise in demand for alarm monitoring products. Government expenditure on security and public safety is also expanding in view of the growing threat of terrorism, while commercial businesses are prioritizing safety and security of physical assets and to prevent losses due to theft, misappropriation of assets, or even fire breakout at workplace.
Another key noteworthy trend is the growing popularity of virtual alarm monitoring services wherein monitoring is carried out through the web/broadband Internet, and alarms dispatched over the both Internet or cellular networks accessible through a wide range of communication devices. However, the alarm monitoring services market encounters a major challenge in the form of rising instances of false alarms, which is a burden on the time and resources of alarm monitoring companies and emergency responders.
As stated by the new market research report on Alarm Monitoring Services, developed markets such as Europe and North America have been the traditional revenue generators in the global alarm monitoring market. But with instances of crime growing across the world, particularly in developing countries where the gap between haves and have nots is expanding, the demand for reliable security systems is rising from both residential and commercial sectors. As a result, developing markets such as Asia-Pacific and Latin America and Middle East are expected to turbo charge future growth in the market. Rapid expansion in building and residential units in developing nations is creating new opportunities in this space. Characterized by burgeoning economies, increase in foreign investments, rise in business activities, presence of large relatively untapped private security markets and increase in crime rates, Asia-Pacific and Latin America have been witnessing increased adoption of security systems, particularly high-end alarm monitoring systems in recent years.
Residential intrusion and fire monitoring services represent the largest segment in the alarm monitoring services market. The United States represents the largest regional market for residential intrusion and fire monitoring services. Residential alarm monitoring services market is significantly impacted by the level of turnover in the housing market. Falling sales for new and existing homes prove to be a dampener for the alarm monitoring services market, as residential construction sector accounts for a significant proportion of the overall market revenues. In times of subdued activity in the residential construction sector, the demand for new home automation systems as well as services comes down significantly, and existing customers choose to disconnect current services to cut down expenses. However, there exists opportunities for growth in the future, owing to the fact that penetration of alarm monitoring or security systems among households is relatively low. Furthermore, increasing willingness of consumers to spend on safety is also expected to translate into enhanced revenues in the coming years.
The market for other alarm monitoring services (including vehicular alarm monitoring services and PERS (personal emergency response service) monitoring) is set to grow at the fastest compounded annual growth rate of 9.4% over the analysis period. On the other hand, commercial alarm monitoring systems and services not only provide security but also enable businesses to realize considerable cost savings through outsourcing of these services to third parties and by avoiding costs incurred on guard services. As commercial alarm monitoring services are driven by the level of new office construction activity, the sector slowed down considerably during the past few years due to the economic downturn. With recovery being hampered by uncertainty created by the eurozone crisis, new office construction sector continues to progress at a sluggish pace, hurting prospects of alarm monitoring service companies. Despite the slower growth, there exists huge opportunities from the retrofit market, as several existing systems are increasingly being replaced with newer technologies such as IP-based systems. Growth is also expected from customers' continued focus on technologies that are not only simple and convenient but also offer high degree performance.
Global alarm monitoring market is characterized by high degree of fragmentation. In recent times, telecom and IT companies have been lured into this market given their ability to offer services similar to that of conventional alarm monitoring companies, albeit at a relatively lower cost. Major players profiled in the report include ADT Security Services Inc., G4S PLC, Guardian Protection Services Inc., Honeywell Security Products Americas, Monitronics International Inc., Prosegur compania de Seguridad, Protection 1 Inc., Reliance Protectron Security Services, Secom Co., Ltd., Securitas AB, Siemens AG, Stanley Convergent Security Solutions Inc., UTC Fire & Security Corporation, and Vivint, Inc.
The research report titled "Alarm Monitoring Services: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Segments analyzed include Residential Intrusion & Fire Alarm Monitoring Services, Non-Residential Intrusion & Fire Alarm Monitoring Services, and Others.
For more details about this comprehensive market research report, please visit -
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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