Remote monitoring market exceeded US$29bn worldwide in 2011, says IMS Research
Wellingborough, UK. August 20, 2012 — According to IMS Research (recently acquired by IHS Inc. (NYSE:IHS)) the world market for remote monitoring services was worth more than US$29 billion in 2011, equivalent to $2.4 billion in recurring monthly revenues (RMR) across the year.
IMS Research also estimates that in the same year 54 million accounts, or customer locations, were provided with services such as alarm monitoring, remote video monitoring, physical access control and fire detection monitoring, and PERS (Personal Emergency Response Services).
Driven by its strong residential and commercial alarm monitoring markets, the US market reportedly accounted for around 45% of world revenues. Other notable regional markets include Canada, the UK, Spain, France, Japan, South Korea, China and Australia.
“The penetration of remote monitoring services varies significantly between different countries and regions,” comments the report’s author and IMS Research Analyst, Niall Jenkins. “For example, the US residential alarm monitoring market has a penetration of between 20 and 25% of all residential buildings, while the residential market in Germany was estimated to be less than 200,000 accounts.”
“There are a number of social and economic reasons for these regional differences,” continues Jenkins. “Perception of crime, comparative wealth, service pricing and the isolation of the location can all drive the decision to remotely monitor a building. In less developed countries, the lower cost of manned guarding can also act to limit uptake. In extreme examples, a lack of trust in the police force can drive customers to include manned guard response in their service agreement, hence increasing the RMR generated on the account.”
IMS Research’s report, entitled The World Market for Remote Monitoring Service – 2012 Edition, focuses on regional and country markets across Europe, the Middle East and Africa (EMEA), the Americas and Asia.
The report provides market size data for 2011 and forecasts to 2016 for remote monitoring services in RMR (Recurring Monthly Revenue), monitored accounts and average prices. It also provides market share estimates for the leading service providers in 2011. The key trends, technologies and service types driving the market are covered from a country and regional level.
IHS (NYSE: IHS) is a leading source of information, insight and analytics in critical areas that shape today’s business landscape. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, the company employs more than 6,000 people in over 30 countries around the world.
IMS Research was recently acquired by IHS and is a supplier of market research and consultancy to over 2,500 clients worldwide, including most of the world’s largest technology companies. Established in the UK in 1989, IMS Research now has dedicated analyst teams focused on the factory automation, automotive, communications, computer, consumer, display, financial & ID, LED & lighting, medical, power & energy, solar PV, smart grid and security markets.