The building alarms monitoring and equipment monitoring sectors are expected to be the largest end user applications in the global alarm monitoring market from 2014 to 2020. The rise in crime rates and increase in demand for home automation and security systems are some of the driving factors for the growth of the global alarm monitoring market. Furthermore, there is an increase in the use of the equipment monitoring in medical equipment because of the rise in the demand for remote patient monitoring.The building alarm monitoring is expected to remain as the largest end user segment in the alarm monitoring market throughout the forecasted period, occupying approximately two-thirds of the end user market in 2014. The residential buildings sector occupies the largest share in the building alarm monitoring segment out of all segments in 2014.
The reason for the rise in building alarms monitoring is because of a lot of factors. Safety for all buildings is of utmost importance, as it needs protection from a lot of accidental and/or manmade hazards. Emergency situations such as gas leak, chemical leak, radiation leak, fire, and flood need to be tackled as soon as they are detected. Manmade disasters such as terrorist attacks, intrusion, robbery, and burglary is also one of the reasons for the increase in building alarm monitoring and is also a prime factor for the increase in demand for home automation systems.
Alarm Monitoring Market
The equipment monitoring is the second-largest end user segment in the said market because of the growing demand for monitoring of sensitive and critical equipment for industrial, commercial, safety, and healthcare purposes. The equipment monitoring end user segment is expected to experience the second-fastest growth rate during the forecast period and it occupies the second-largest market share in the end user segments in 2014. The equipment monitoring for medical equipment and telecom & network equipment are the ones that occupy the largest market shares out of all end user segments in 2015.
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Medical equipment monitoring and telecom & network equipment occupies more than one third each in 2014 in the equipment monitoring segment. The demand for medical equipment monitoring is expected to rise because of the demand for remote patient monitoring, mainly in the developed regions in North America and Europe, where old age homes and hospitals have requirement for such devices. Dementia, heart monitoring, and diabetes are some of the common ailments that are and can be monitored remotely. The need to monitor telecom & network equipment is important, as they form the backbone for all communication systems active in the world, and hence the monitoring of such equipment for their safety in maintaining communication is critical.
