Study: Alarm Market To Reach $19.6 Billion By 2011
Despite a two percent fall, from $17.8 billion in 2005 to $17.5 billion in 2006, the market for alarm systems, services, and installations is expected to reach $19.6 billion by 2011, according to "U.S. Market for Alarm Systems, Services and Installations," a new report from market research publisher SBI.
Following significantly reduced equipment shipments and system installations in 2006 and changing market conditions in both the residential and commercial markets in 2007, SBI projects that growth will return to the market in 2008. Expected annual increases range between one and four percent, with growth expected as advanced technologies, integrated systems, cross- channel innovation, and general end-user awareness and interest in security, which is no longer limited to fire and intrusion, converge.
Even for the simplest of old-school alarm products, the next generation of the security industry has arrived on a wave of convergent innovation and system integration. Security systems are expanding into multiple channels of information transmission to create more reliable and convenient options for end users.
"The security and safety industry now has a great opportunity to explore alternative product and service channels that share technological and service touchpoints outside of fire and intrusion," said Cathy Minkler, associate editor of SBI. "These touchpoints include indoor and outdoor lighting, high-tech home entertainment, broadband services and independent living services for the infirm or aging."