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).
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.
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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, 2020, 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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