Fire Alarm Systems Market
Fire Alarm Systems Market By System Type (Conventional Fire Alarm Systems, Addressable Fire Alarm Systems), By Service (Professional Services, Managed Services), By Application (Commercial, Industrial, Residential) & Region - Global Market Insights 2022 to 2032
Analysis of Fire Alarm Systems market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Fire Alarm Systems Market Outlook (2022-2032)
Worldwide demand for fire alarm systems is forecasted to increase at a CAGR of 6.6% between 2022 and 2032. At present, the global fire alarm systems market is valued at US$ 30.12 billion and is anticipated to reach US$ 57.08 billion by 2032.
Addressable fire alarm systems remain dominant in the global market. Due to few wires that need to be fitted when deploying addressable fire alarm systems as opposed to traditional fire alarm systems, it results in significant cost savings for building contractors.
Fire Alarm Systems Market Size (2022E)
US$ 30.12 Billion
Forecasted Market Value (2032F)
US$ 57.08 Billion
Global Market Growth Rate (2022-2032)
North America Market Share (2022)
Europe Market Share (2022)
China Market Share (2022)
Key Companies Profiled
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Sales Analysis of Fire Alarm Systems (2017-2021) Vs. Market Outlook (2022-2032)
According to Fact.MR, a market research and competitive intelligence provider, demand for fire alarm systems is predicted to rise at a CAGR of 6.6% from 2022 to 2032.
Increasing requirements for the oil and gas industry, energy, power, and automotive industry are encouraging consumers to adopt fire alarm systems. Rapidly growing construction industries and spending on infrastructure by government and private sectors and installing smoke alarms and detection systems in buildings are contributing to the lucrative growth of the fire alarm market.
Fire alarm systems are designed to discover the presence of fire, smoke, or the presence of harmful gas in a vicinity and warn people through audio and visual appliances regarding the need to evacuate the premises.
These alarms may be directly automated from heat and smoke detectors and may also activate manually via fire alarm devices such as pull stations or through speaker strobes sounding an alarm. The installation of fire alarms is compulsory in a variety of commercial, residential, and industrial setups as a part of safety guidelines in many countries.
What Augmenting Fire Alarm Systems Market Growth?
“Rapidly Increasing Advancements in Fire Detection & Warning Technology”
Fire alarm systems that are integrated with ionization technology have been popular for years and are expected to witness steady adoption during the assessment period.
As fire detector systems are becoming more technologically advanced, leading companies across industries are seeking effective fire detection systems that align with the environment and their working conditions.
The market revenue is primarily driven by factors such as the rising rate of fire safety system deployment in educational institutions and the rise in awareness among residents of fire detection systems.
Advancements in fire alarm and detection and smoke detectors combined with IoT and big data technologies are anticipated to drive market expansion over the coming years.
In the past few years, the market for fire alarm systems has witnessed vast developments in terms of technological advancements. The rising number of companies in the market continues to push fire alarm systems in terms of technological evolution.
As fire hazard safety compliances become stricter in emerging economies, the demand for fire alarm systems is likely to improve, which is expected to drive the global fire alarm systems market over the coming years.
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How are New Fire Alarm System Manufacturers Making a Mark?
“New Market Entrants Incorporating Intelligent Notification Features in Fire Alarm Devices”
Delayed detection and false alarm rings can cost various lives and company stocks. As the need for quick detection and notification system persist in the residential and commercial complexes, new companies are focusing on integrating intelligent notification features into fire alarm systems.
With the incorporation of intelligent notification features, the fire alarm can notify occupants, visitors, and employees with the Emergency Voice Alarm Communication (EVAC) techniques. In addition, these systems direct the occupants towards the closest route to evacuation during an emergency.
To improve their position in the competitive market, start-ups are focusing on offering fire detection systems equipped with features such as multiple gases and radiation monitors and photonic sensing technology that detect harmful gases and smoke.
New companies should concentrate on incorporating dual sensing technology with multi-winged structures for the commercial, warehousing, and residential settings approved by the National Fire Protection Association (NFPA) to offer enhanced security and industry-specific requirements of customers.
Which Regions are Leading Producers of Fire Alarm Systems?
“Strict Safety Regulations Driving Market Revenue in North America & Europe”
North America accounts for 25.1% share of the global fire alarm systems market. The prominent presence of fire alarm system manufacturers and the rising adoption of fire protection systems devices in the industrial sectors for safety enhancements are driving the market growth in the region.
With 23.6% market share, Europe is witnessing increased sales of fire alarm systems. Increasing urbanization, rapid implementation of fire safety regulations, and increasing smart cities are driving the market growth in the region.
Rapid and sustained economic growth has produced profitable commercial opportunities and expansion possibilities in India. Along with accelerating improvements in the public infrastructure, technological innovations and rising safety standard development initiatives such as the National Building Code in India also increase demand for fire alarms.
Which Application Accounts for Highest Fire Alarm System Demand?
“Increasing Deployment of Effective Fire Alarm Systems in Commercial Spaces for Safety Measures”
Based on application, the market is classified into commercial, industrial, and residential. The adoption of fire alarm systems continues to remain concentrated in commercial buildings. Constructors and building surveyors are ensuring that the commercial complexes are equipped with effective fire alarm systems and efficient fire safety equipment.
Building surveyors are pitching in the architectural developments and procedures to decide on allocating fire alarm systems in commercial areas where accidents can be quickly and easily detected. In addition, constructors are focusing on installing fire alarm systems that can instantly intimate the fire stations on detecting smoke or fire.
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Fire alarm system manufacturers are focusing on research and development initiatives to create cutting-edge products that incorporate the newest technologies. Offering post-sale services to make sure the installations adhere to safety and operation standards will be another go-to-market priority.
Fire alarm system providers strive to provide supplementary services, new goods, training, and help in choosing the best product for a certain application.
For instance :
- The intelligent fire safety system by Honeywell is an addressable fire detection system that offers reliable detection performance. The system is easy to install and detects fire very fast.
Key Segments Covered in Fire Alarm Systems Industry Research
Fire Alarm Systems Market by System Type :
- Conventional Fire Alarm Systems
- Addressable Fire Alarm Systems
Fire Alarm Systems Market by Service :
- Professional Services
- Managed Services
Fire Alarm Systems Market by Application :
- Commercial Fire Alarm Systems
- Industrial Fire Alarm Systems
- Residential Fire Alarm Systems
Fire Alarm Systems Market by Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
The global fire alarm systems market is valued at US$ 30.12 billion.
The market in China stands at US$ 3.13 billion.
Honeywell, Siemens, and Bosch are the top 3 market players.
Top 3 countries in the market account for 33% market share.