21-Feb-2020 | Facts and Factors
Facts and Factors have authored “Fire Alarm System Market By Product (Fire Detectors & Fire Alarm), By Type (Flame Detectors, Smoke Detectors, & Heat Detectors), By Indicator Type (Audible Alarms, Visual Alarms, & Manual Call-Points), By Application (Commercial, Industrial, & Residential), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. Based on our analysis, the global fire alarm system market in 2020 is approximately USD 61.9 Billion and is anticipated to reach around USD 85.2 Billion by 2026. The anticipated CAGR for the Fire Alarm System market is around 6.7% from 2021 to 2026.
The fire alarm system is the detection system that is designed to protect lives and building in case of gas and fire leaks. The system is designed to monitor continuously the building and surrounding areas for fire and other harmful gases to provide early warnings for proper moderating actions to be taken in a timely manner. The fire alarm system can be activated with the help of manually operated devices such as pull stations, or automatically activated devices such as water-flow switches, heat, and smoke detectors, etc.
Browse the full “Fire Alarm System Market By Product (Fire Detectors & Fire Alarm), By Type (Flame Detectors, Smoke Detectors, & Heat Detectors), By Indicator Type (Audible Alarms, Visual Alarms, & Manual Call-Points), By Application (Commercial, Industrial, & Residential), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026" report at https://www.fnfresearch.com/fire-alarm-system-market-report
Rising technological advancement and modernization in the construction industry are fueling the demand for fire alarm systems. The growth in the construction industry is mainly driven by the high demand for housing and commercial places. Increasing urbanization in emerging markets such as India, China, Indonesia, and Nigeria is expected to boost infrastructure spending for key infrastructure sectors that includes power, water & wastewater treatment, and transportation. Moreover, stringent government regulations across the regions for the installation of fire alarm systems in commercial, residential, and industrial areas are accelerating the growth of the global fire alarm system market. However, unexpected failure or late detection of fire alarm systems can affect numerous lives and company stocks. There are various reasons due to which the alarm system fails to work. It may be a problem with sensors, warning devices, or maybe detectors. Certain factors may affect the growth of the market. To overcome, these inefficiencies, technological advancement is ongoing. For instance, market players such as First Alert and Kidde KN-COSM-BA are adopting fire systems that are equipped with dual sensing technology and optical technology to ensure the security of employee and warehouse maintenance. The technological developments are helping the companies to focus on developing fire alarm systems for particular operations and working conditions of different industry verticals. The use of IoT in the development of fire detectors will aid companies and residents to operate systems using smartphones. Huawei Technologies Co Ltd, a network product and telecommunication solution provider enterprise is involved in offering an NB-IoT-based smoke detection solution. The solutions are plug-and-play systems, which require no cabling and help in preventing fires and restricting physical damages. Thereby, such a rise in the adoption of technological advancement for fire alarm systems will boost the growth of the fire alarm market rapidly in the future ahead.
The global fire alarm system market is segmented on the basis of configuration type, product, notification device, and application. On the basis of the configuration type, the market is divided into conventional systems and addressable systems. The product is bifurcated into flame detectors, smoke detectors, and heat detectors. Smoke detectors are dominating the market currently as these are cost-effective, can be used in large size buildings, and have a longer life span. These devices are mostly used in malls, residential complexes, and offices. The applications of the fire alarm system are in residential and commercial infrastructures. The commercial segment is holding the major market share as it includes retail, financial services, educational institutions, banking, and hospitals among others. The mandates drafted by several government agencies for the install fire alarm systems in commercial projects are expected to drive the growth of the market in the coming years.
The global fire alarm system market is analyzed into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. North America is the leading regional segment holding the largest market share. The developing countries including China, Siberia, Taiwan, Cambodia, Malaysia, Indonesia, Myanmar, Singapore, Philippines, and Thailand are anticipated to grow over the forecast period. Major countries analyzed in this research report are the U.S., Mexico, The UK, Canada, India, Germany, France, China, Japan, South Korea, Brazil, and Argentina among others.
Top Market Players
The key market participants for the global fire alarm system market are Johnson Controls International plc., Honeywell International, Inc., Napco Security Technologies, Inc., Nittan Co. Ltd., Siemens AG, Halma plc., United Technologies Corp, Robert Bosch GmbH, Eaton Corp, Hochiki, Gentex Corporation, Securiton, Carrier Global Corporation, and Electro Detectors Ltd, among others.
This report segments the Fire Alarm System Market as follows:
Global Fire Alarm System Market: By Product Segment Analysis
Global Fire Alarm System Market: By Type Segment Analysis
Global Fire Alarm System Market: By Indicator Type Segment Analysis
Global Fire Alarm System Market: By Application Segment Analysis
Global Fire Alarm System Market: Regional Segmentation Analysis
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