Fire alarm and detection technology aids in early fire detection and raises an alert via audio or visual indicators to prompt the safe evacuation of premises. Fire alarm and detection systems are arranged such that they cover an entire area and are capable of detecting smoke, heat, or gas leaks. The implementation of stringent regulations regarding fire safety by governments across regions is a key factor driving market growth. Other factors such as increasing smart city projects and rising awareness regarding safety and security are also expected to contribute to the growth of the fire alarm and detection market.
Globally, governments have implemented various laws mandating the installation of fire alarm and detection systems; for instance, current U.K. fire alarm regulations state that business premises must have an appropriate fire alarm and detection system.
In the U.S., fire death rate is one of the highest deaths causes per capita in the industrialized world. Fire kills approximately 3000 and injures 20000 people each year without working smoke alarms. A smoke alarm greatly reduces fatalities in a fire. In addition, fire outbreaks cause direct loss of property, estimated at USD 11 billion per year.
As the global population continues to grow, more and more people are moving to urban areas. To handle this large-scale urbanization, the concept of smart cities has evolved to improve the quality of life. The integration of fire alarm and detection technology in smart cities helps protect and safeguard people.
The global fire alarm and detection market size are expected to witness steady growth with a CAGR of 3.9% during the forecast period, 2019–2026.
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The fire alarm and detection market can be segmented by alarm technology, detector technology, application, and geography.
On the basis of alarm technology, the market can be segmented into conventional and addressable alarm technology. The addressable alarm technology segment is expected to hold the largest share in the fire alarm and detection market, due to the relatively low cost of this technology as compared to conventional alarm technology.
By detector technology, the wireless fire detection systems market can be segmented into smoke, heat, and flame. The smoke detector segment is projected to grow at the highest CAGR during the forecast period, due to the increasing installation of smoke detector systems at commercial places.
By application, the market can be segmented into commercial, industrial, and residential. Among these, the commercial segment is expected to grow at the highest CAGR over the forecast period, due to the increasing installations at schools and offices.
On the basis of geography, the market has been segmented into North America, Europe, Asia Pacific, and LAMEA.
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North America is anticipated to be the largest market for fire alarm and detection systems throughout the forecast period. The region is an early adopter of the fire alarm and detection technology and home to some of the leading market participants. Market growth in the region can also be attributed to improving aesthetics and ease of installation, and increasing emphasis on preserving buildings, and reducing asbestos. Infrastructure development in countries such as India and Thailand, coupled with new construction activities, tightening of fire safety and security practices, and the proliferation of wireless connectivity, is expected drive the demand for fire detection systems over the forecast period.
Asia Pacific is projected to grow at the highest rate in the fire alarm and detection market during the forecast period, backed by ongoing developments and investments in grassroot projects across developing regions such as China, and India.
The Europe fire alarm and detection market has attained maturity as the region was one of early adopters of this technology and has stringent government regulations regarding fire safety. The need for enhanced safety and security features to comply with said regulations is expected to drive the growth of the fire detection system market. For instance, the Confederation of Fire Protection Association in Europe (CFPAE) aims to facilitate and support fire protection work in European countries. This guideline is primarily intended for the public and those who are responsible for safety in organizations and companies.
In the LAMEA region, the market is characterized by the presence of leading global players such as Honeywell Life Safety, UTC, Siemens, Tyco and Bosch, as well as national players such as Aguilera Electronics.
Some of the prominent players operating in the fire alarm and detection technology market include Emersion Electric Co., Fike Corporation, Gentex Corporation, Halma plc, Hochiki Corporation, and Honeywell International, Inc.
The fire alarm and detection technology market have been slow to evolve as compared to other smart devices. However, a lot of emerging technologies are likely to reframe how consumers think about detecting and extinguishing fires, including Sensor-Assisted Fire Fighting, High-Pressure Water Mist, wireless devices, and fireballs. With the evolution of new technologies, manufacturers are leveraging both timeless and emerging technologies to target more customers.
In our report, we have included a deep analysis of the fire alarm and detection technology market in terms of value by technology, detection technology, application, and geography. We have also covered a detailed analysis of major factors such as drivers, restraints, challenges and opportunities. Some of the key inclusions are,
|Market Size||USD in Billion By 2030|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
|Segments Covered||by Alarm Technology (Conventional), Detector Technology (Smoke, Flame), Application (Commercial, Residential)|
|Geographies Covered||North America, Europe, Asia-Pacific, LAME and Rest of the World|
|Key Companies Profiled/Vendors||Emersion Electric Co., Fike Corporation, Gentex Corporation, Halma plc, Hochiki Corporation, and Honeywell International, Inc.,|
|Key Market Opportunities||Increasing Prevalence Of The Semiconductor & Electronics Industry Enhances The Expansion Of The Fire Alarm And Detection Market Share|