The overall alarm monitoring market is expected to be USD 45.70 Billion in 2018 and is likely to reach USD 59.83 Billion by 2023, at a CAGR 5.5% between 2018 and 2023. The major factors driving the growth of the alarm monitoring market include attractive insurance policy discounts for installing security systems and increasing popularity of smart homes and home automation systems.
Product launches and developments accounted for a share of ~60% of the overall growth strategies adopted by the market players between January 2015 and January 2018. The companies have adopted these strategies to strengthen and diversify their product portfolio and cater to the unmet and growing needs of customers. Moreover, the players are focusing on developing advanced products to gain a competitive advantage over their competitors in the market. Partnerships, acquisitions, and collaborations collectively accounted for a share of ~40% of the overall growth strategies adopted by the market players between January 2015 and January 2018. The companies have adopted these strategies to increase their geographic reach, enhance their product portfolio, and strengthen their position in the global market.
ADT (US) offers end to end solutions in the alarm monitoring market. The company offers products for fire and smoke detection, carbon monoxide detection, intrusion detection, and flood detection, among others. It is keeping pace with the evolving market by acquiring innovators in the alarm monitoring market. ADT’s recent acquisitions in the cybersecurity space has helped it further strengthen its position in the market. The company’s recent product launches are targeted toward customers that prefer DIY monitoring over professional monitoring. The company generates a major share of its revenue from the US; it is one of the major players in the alarm monitoring market in the US. ADT focuses on organic as well as inorganic growth strategies such as product launches and recent acquisitions.
Moni (US) was founded in 1994. The company generates its primary revenue from the monthly fees charged in lieu of monitoring services. It follows a business model wherein it outsources the high fixed cost elements of the business to its network of independent dealers. This model minimizes the large upfront investment required to set up an alarm system. The company believes that homeowners relocate lesser than renters and aims to reduce attrition by focusing more on homeowners. Moni focuses on the evolving market trends; it acquired LiveWatch Security in 2015 to cater to the increasing customer interest in DIY interactive home automation services. The company aims to leverage locally based dealers to increase its market presence and considers them as an integral part of their business.
Alarm Monitoring Market by Offering (Systems Hardware, Services), Input Signal (Discrete, Protocol), Communication Technology (Wired, Cellular, IP), Application (Building, Equipment, Vehicle Alarm Monitoring), and Geography - Global Forecast to 2023
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