World Markets for Security Applications & Wireless M2M, 2019-2023 (9th Edition)
DUBLIN, Nov. 28, 2019 /PRNewswire/ -- The "Security Applications and Wireless M2M - 9th Edition" report has been added to ResearchAndMarkets.com's offering.
This strategic research report provides you with 250 pages of unique business intelligence including 5-year industry forecasts and expert commentary on which to base your business decisions.
The global market value of the security industry reached an estimated 160 billion in 2018. The more mature European and North American markets still dominate the industry with a combined market share of close to 62 percent. The long-term annual growth rate is estimated to between 2 and 4 percent in Europe and North America. Historically, annual growth has exceeded GDP by a few percentage points each year. However, the mature markets in Europe and North America are no longer growing faster than GDP, but rather at the same rate as GDP.
A more advanced type of local alarm is a self-monitoring alarm. Upon activation, this type of alarm informs the owner of the premises by sending a text message or push notification. Monitored alarms are connected to an Alarm Receiving Centre (ARC). When a monitored alarm is activated, the ARC can respond by contacting the police or by dispatching a security patrol. Monitored alarm systems are dependent on reliable communications networks. The latest generation of monitored alarm systems uses dual wired and wireless network connections in order to minimise the risk of communications failure.
Fundamental market data thus indicate a significant growth potential for small alarm systems on the European market, especially in the residential segment where the current penetration is only 5.3 percent. However, growth on this market is anticipated to vary considerably from country to country in the next few years. The advanced Nordic market is forecasted to grow the fastest, while other major markets in southern Europe and the UK will show less growth due to higher market fragmentation with fewer specialist alarm service companies that drive the market through active marketing and Brexit uncertainties.
New entrants to the market in the form of various providers of home automation systems are also creating consumer awareness, especially in North America. However, many of the security features included in home automation solutions rely on self-monitoring without professional monitoring services.
In the consumer segment, tracking services are available for monitoring assets such as motorcycles, mopeds, electric bikes, motor caravans, caravans andboats. Stolen vehicle tracking (SVT) and asset tracking systems are normally based on RF transceivers or GPS/cellular technologies. GPS/cellular technologies are also being fitted as standard equipment or aftermarket options in commercial vehicles and passenger cars as part of fleet management and telematics offerings.
What distinguishes SVT services from general fleet management and car telematics is the monitoring and assistance services provided by secure monitoring centres. In Europe and North America, all the leading car OEMs have introduced embedded telematics systems. Telematics adoption in the European market is accelerated by the eCall initiative from the EU that has created an automatic emergency call system for vehicles.
In North America, commercial services have driven the adoption of OEM telematics services that have evolved from being a differentiator to a mainstream feature offered by nearly all leading car brands on a majority of their models. Many car OEMs offer SVT as part of their embedded telematics service packages. It is forecast that the number of subscribers to SVT services for passenger cars in Europe and North America will increase from 57.8 million in 2018 to 128.3 million in 2023.
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