Companies to Test with Operators to Deploy Virtual Monitoring During COVID-19 Crisis
Central monitoring stations have the onus of keeping their employees and customers protected during the ongoing COVID-19 (coronavirus) crisis. Hence, companies such as AvantGuard— a provider of monitoring services has created a list of guidelines for virtual workplace monitoring in the current unprecedented times. Companies in the alarm monitoring (central stations) software market creating emergency plans to ensure continuity in monitoring services. Since most individuals are working from home, the demand for an encrypted virtual private network has become evident in the past couple of months.
An encrypted virtual private network helps operators to access the necessary monitoring software. Companies in the alarm monitoring (central stations) software market are increasing efforts to begin testing with operators in order to execute their virtual monitoring programs. In order to gain global recognition, monitoring companies are complying with the guidelines issued under UL (Underwriters Laboratories) certification.
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Flexibility with Integration Becomes Critical in Video Verification Applications
Video surveillance is a growing trend in the alarm monitoring (central stations) software market. Central stations are enhancing their video capabilities to enable a wide range of new applications. The alarm monitoring (central stations) software market has transitioned from dispatching police or fire information to providing sophisticated video verification in various end-use cases. As such, the role of central stations continues to expand with the introduction of new applications in end markets. This explains why the market is projected to surpass the US$ 18.5 Bn mark by the end of 2030.
The central station software has become critical in deploying live IP (Internet Protocol) alarm transmission. Companies are increasing their R&D capabilities to offer flexibility with integration in software. This can be achieved with the help of APIs (Application Programming Interfaces).
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Multiple Options Being Highly Preferred in Software to Monitor Remote Objects
Retail sector and banks are creating stable revenue streams for companies in the alarm monitoring (central stations) software market. Apart from these, companies are tapping into incremental opportunities in military and security companies. Alarm Front Monitoring— a company dedicated to organize central station for monitoring is winning customers with its easy-to-use web interface and minimized human intervention in software systems. Such innovative features in software has expedited growth of the alarm monitoring (central stations) software market, which is predicted to progress at a favorable CAGR of ~7% during the assessment period.
The comprehensive alarm history and reporting is highly preferred in alarm monitoring (central stations) software. The proliferation of mobile apps is another key driver for the market. Companies are increasing efforts to offer multiple options in software to help control the availability of remote objects such as monitoring check-ins from secured objects.
APIs Help in Responding to Multiple Signals Offering Flexibility to Users
The concept of video monitoring is attracting investors. However, the high initial installation cost is acting as a restraint in video surveillance adoption. As such, the average maintenance cost of a video monitoring software over a year is less than employing a security guard. Hence, retailers and commercial office owners are investing in video monitoring software.
Companies in the alarm monitoring (central stations) software market are increasing the availability of open API structures that provide increased flexibility and opportunities to end users, as APIs help central stations to respond to a wide range of signals via text messages or email, extensible markup language (XML), or through open database connectivity (ODBC). Even educational institutions are turning toward the alarm monitoring (central stations) software.
AI-powered Video Analytics Solutions Acquiring Prominence in Canadian States
Companies in the alarm monitoring (central stations) software market are replacing the Flash technology with HTML 5, owing to its advantages of being faster, lighter, and more flexible than the former. On the other hand, software companies are increasing their focus in AI (Artificial Intelligence)-powered video analytics. For instance, on September 3, 2023, Calipsa— a provider of false alarm filtering platforms, announced that the GPS Security Group has adopted its AI-enabled video analytics solution to support efficiency in video monitoring operations.
As such, companies in the alarm monitoring (central stations) software market are unlocking revenue opportunities in Canadian states, such as Alberta and British Columbia where the popularity of video monitoring is growing. Both physical and electronic security services associated with video monitoring and verification are acquiring prominence in commercial offices.
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Superior Signal Processing Capabilities in Software Give Competitive Advantage to Companies
Apart from features in alarm monitoring (central stations) software, software companies are offering external services such as easy customization and digital video recorder (DVR) integration in order to retain customers. For instance, cSecurity is being highly publicized as an advanced software for digital alarm signal receiving central stations, designed to deploy customization for the implementation of new features. Companies in the alarm monitoring (central stations) software market are developing software that are compatible with all internationally recognized communication protocols such as SIA, Contact ID, Basic, etc.
Customers are demanding software that scales along with their business growth. Hence, scalability has become an important aspect of alarm monitoring software. Competitors in the alarm monitoring (central stations) software market are developing systems that outperform in terms of speed and superior signal processing capabilities. As such, the trend of subscriber management is growing prominent in the retail sector.
Alarm Monitoring (Central Stations) Software Market: Overview
- Alarm monitoring (central stations) software helps residential and commercial customers to monitor fire alarms, security or access control, and energy management, and helps enterprises in instrument or equipment monitoring
- The software provides information regarding fire, burglar attacks, critical conditions, etc. and alerts authorities. Alarm monitoring software is a progressive warning system that provides monitoring and software management solutions that enable customers to observe remote sites from numerous operator workstations.
- The global alarm monitoring (central stations) software market is anticipated to expand at a CAGR of ~7% during the forecast period 2023 to 2030, and was valued over US$ 9.1 Bn in 2019
- The residential sector is increasingly demanding security systems to alert security providers about fire, burglary, and medical emergency in a building. Medical personnel use medical alarm monitoring systems during a medical emergency.
- Increasing adoption of home automation systems and smart home technologies fuels the demand for smart security solutions to reduce crime in the residential sector. Security service providers are adopting alarm monitoring software to monitor different alarm systems and increase the response time of the services.
- Alarm security solution providers are adopting advanced technologies to improve the response time and provide a centralized software platform to enhance the user experience. Increasing demand for alarm monitoring software and security systems in the residential sector is, thus expected to drive market growth during the forecast period.
Alarm Monitoring (Central Stations) Software: Market Segmentation
- The global alarm monitoring (central stations) software market has been segmented based on component, application, enterprise size, and region
- In terms of component, the alarm monitoring (central stations) software market has been segmented into software and services. Furthermore, services segment includes consultation & integration and support & maintenance services.
- In terms of application, the alarm monitoring (central stations) software market has been divided into security or access control, energy management, fire & environmental monitoring, and instrument or equipment monitoring. Demand for alarm monitoring (central stations) software in security or access control applications are expected to rise during the forecast period.
- Based on enterprise size, the market has been classified into small & medium enterprises and large enterprises
Alarm Monitoring (Central Stations) Software Market: Regional Outlook
- The global alarm monitoring (central stations) software market has been categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is estimated to dominate the global alarm monitoring (central stations) software market and account for 30.5% market share by the end of 2023. It is estimated to maintain its dominance during the forecast period.
- The market in Asia Pacific is projected to expand at a CAGR of 7.9% during the forecast period, due to increasing adoption of security platforms and growing demand for smart IoT devices in smart city projects and security of commercial infrastructure
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