11-Dec-2020 | Zion Market Research
As per Zion Market Research, the global fire alarm and detection market is predicted to grow at a CAGR of around 8.3% during the estimated period 2019–2025. The fire alarm and detection systems aid in identifying fire incidents at the preliminary stage and raise alerts through audio or visual indicators to safely empty the premises. This system is designed to spot the presence of smoke, fire, gas leak, and heat. They are organized in such a way that the full area is covered. The directives mentioned in building codes prepared by various administrative agencies to set up such systems in residential, commercial, and industrial organizations are chiefly driving the market growth. The goring development of smart cities globally, along with the surging consciousness amongst consumers regarding safety, is also adding toward the market growth.
Some of the key players in the market are Fike Corporation; Emerson Electric Co.; Halma PLC; Gentex Corporation; Honeywell International, Inc.; and Hochiki Corporation. These players are mostly known for presenting innovative and advanced solutions. The companies are assertively spending on research & development to innovate and achieve strategic benefits over their rivals. Apart from strategic partnerships and expansion, they also yield to mergers and acquisitions as part of their plan to gain market share.
Rapid Industrialization And Urbanization To Stimulate The Global Fire Alarm and Detection Market
The stringent policies for the operation of fire defense systems and administration mandates for buildings are key factors propelling the development of the global market. Additionally, rapid industrialization and urbanization are other aspects boosting the demand for fire alarm and detection systems in the market. Furthermore, augmenting awareness amongst individuals concerning fire protection & safety systems is another aspect likely to drive the advancement of the global fire alarm and detection market to a certain scale during the estimated period. High set up and implementation costs are the main factors impacting market growth.
The global fire alarm and detection market is bifurcated on the basis of detection technology, application, alarm technology, and regional analysis. Based on the alarm technology, the market is divided into conventional systems and addressable systems. Based on the detection technology, the market is divided into heat detectors, smoke detectors, and flame detectors. Based on the application, the market is divided into commercial and non-commercial.
North America & Asia Pacific Predicted To Dominate The Global Fire Alarm and Detection Market
Based on geographical analysis, the global fire alarm and detection market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The North America region dominated the global market in 2016 and is likely to continue its supremacy over during the forecasted period as administrative agencies persist to enforce strict mandates to set up fire detection and fire alarm systems. Additionally, the North America region is known for the untimely adoption of superior technologies, market contenders operating in the region keep developing their product portfolios constantly. In the Asia Pacific region, the implementation of fire alarms and detectors has been growing in line with augmenting awareness regarding fire safety. The industrial growth in emerging economies, like China and India, along with surging adoption, is likely to boost the demand across the region during the forecasted period.
Browse the full “Fire Alarm And Detection Market - By Alarm Technology (Conventional Systems and Addressable Systems), by Detection Technology (Smoke Detectors, Flame Detectors, and Heat Detectors), By Application (Commercial and Non-Commercial), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/fire-alarm-and-detection-market
The global fire alarm and detection market is segmented as follows:
By alarm technology:
By detection technology:
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