Alarm Monitoring Software Market Size, Share & Industry Analysis, By Component (Solution, Hardware, Services), By Technology (Wired Telecommunication Network, Cellular Wireless Network, Wireless Radio Network), By End-user (Healthcare, Government, Chemical & Petrochemical, Military & Defence, Automotive) And Regional Forecast, 2024-2032

Alarm monitoring software offers a centralized connection to the security system such as fire alarm, smoke detectors. The guards, or the monitoring team can remotely access the security system such as fire alarm, burglar alarm, CCTV installations among others. Further, through the software the fault in the alarm can be detected in real-time. The growing demand for advanced security solutions is likely to drive the alarm monitoring software market. Also, the stringent government rules and regulation of commercial building safety is likely to surge the software demand. The cities across the globe are witnessing increasing crime rates. This boosts the requirement for advanced solutions in the security and surveillance industry.

The insurance companies are offering discounts in premium rates to the individual, office owner, commercial builder for implementing the alarm monitoring software. Through the software, the insurance company can track the client’s claim while investigating the case. Similarly, the growing adoption of cloud computing is also boosting the deman for cloud-based alarm monitoring software.

However, the high cost of the initial investment might hamper market growth. Also, the low accuracy in detecting the false alarm is expected to challenge the market expansion.

Key Players Covered:

Some of the key players in the global alarm monitoring software are ABB Ltd., Siemens AG, Rockwell Automation Inc., Honeywell International Inc., Schneider Electric SE, ADT Corporation, Diebold Nixdorf, Axis Communications, Tyco International Plc, United Technologies Corporation, Johnson Controls International Plc,  Yokogawa Electric Corporation, Johnson Controls and London Security, exida.com LLC, Leighton O’Brien, PAS Global, LLC, Robert Bosch GmbH, among others. The key players are focusing on product portfolio expansion. Also, the providers are investing in research and development automating and advancing the software.

Regional Analysis

North America to dominate the revenue share during the forecast period. The growing demand for cloud-based solutions is likely to boost the market growth in the region. The US is likely to gain significant growth owing to the increasingly strict rules and regulations over safety precautions in commercial buildings. As per the regulation of the United States Regulatory Reforms, it is mandatory for commercial buildings to have a fire alarm system. This is likely to drive the demand in the country. Similarly, in South America with the growing government regulation, the adoption of safety and security solutions has gain demand. This is expected to boost the alarm monitoring software market in the region.

Europe to witness remarkable growth during the forecast period owing to the rising demand for remote location security surveillance systems. The demand for security equipment is maximum in countries like the UK, France, and Germany. Also, the presence of key market players in the region is likely to drive the market growth. Similarly, with the increasing adoption of cloud-based and advanced security solutions in the Middle East and Africa, the region is expected to grow steadily.

The Asia Pacific to witness a significant growth rate during the forecast period. The presence of leading electronic manufacturers in the region like South Korea, China, Southeast Asia, Singapore is likely to drive the market growth. The increasing implementation of smart homes and smart cities is likely to drive the demand for alarm monitoring software in India, China, Singapore, and Japan.

Segmentation

Key Industry Developments

• June 2020 – Leighton O’Brien launched a cloud-based ATG Alarm Management Solution (AMS), for remote monitoring of smart alarms. The intelligent alarm software can filter the false alarm. Further, the software offers a dashboard and real-time data reports.


• June 2018: Axis Communications announced the launch of a cloud-based platform that integrates with alarm monitoring software and stores the data over the cloud. The platform provides support to the provider to manage the client security system from remote location.