Feature rich monitored alarm systems on the increase to 2024

The number of professionally monitored alarm systems in Europe is forecasted to grow at a compound annual growth rate (CAGR) of 3.9 percent from 16.5 million in 2019 to 20.0 million in 2024, according to IoT market research providers, Berg Insight.  In North America, the number of monitored alarm systems is forecasted to grow at a CAGR of 2.7 percent from 31.7 million in 2019 to 36.2 million in 2024.

In its new report, Berg divides security systems for small businesses and private homes into three main categories – local, self-monitored and professionally monitored security systems. When activated, a local security system emits an alarm sound to alert the surroundings and scare off intruders. Such systems are not monitored and cannot be accessed from remote. A self-monitored security system is connected and informs the owner of the premises upon activation by sending a text message, email or push notification. A professionally monitored security system is connected to an Alarm Receiving Centre (ARC). When the system is activated, the ARC can dispatch a security patrol and contact emergency services.

ADT is cited as the leading provider of professionally monitored alarm systems in North America with 6.5 million residential and business customers at the end of 2019. Vivint, Comcast and Brinks Home Security (Monitronics) follow and had 1.55 million, 1.38 million and 0.85 million residential and small business customers respectively. The telecommunications company Telus has emerged as one of the leading providers of home security systems in Canada according to the research. The company acquired around 500,000 customers of ADT Canada in late 2019 and reached a total of around 0.6 million customers at the end of 2019.

In the European market, the research shows that Verisure is the leading player, with a total of 3.35 million customers across several European countries as well as a few countries in South America. Berg found that the second largest player in the residential and small business segment in Europe is Sector Alarm with 0.55 million customers. The company is primarily active in Sweden, Norway and Ireland and also has some customers in Finland, Spain and France. Additional Europe-based companies include Securitas, Prosegur, EPS (Crédit Mutuel) and G4S.

“The shift towards interactive security systems, where users are able to access and control the security system from remote using their smartphone, has been an ongoing industry trend during the last decade”, says Martin Backman, Senior Analyst at Berg Insight. Interactive services are now increasingly complemented by smart home services and live video monitoring solutions featuring advanced video analytics. “Modern home security systems provide a much richer set of features and capabilities, which adds value for customers and at the same time allows home security system vendors to generate additional sales”, concludes Mr. Backman.

Source: Security World Market

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