Global Fire Alarm and Detection System Market to Grow at 6.58% During 2024-2032, Bolstered by Implementation of Fire Safety Initiatives

February 25, 2022 | Technology & Media

The latest report by IMARC Group, titled “Fire Alarm and Detection System Market Report by Product Type (Fire Alarm, Detectors), Detection Technology (Addressable, Conventional), Offering (Hardware, Software), Connectivity (Wired, Wireless), End User (Commercial, Residential, Industrial), and Region 2024-2032,” finds that the global fire alarm and detection system market is expected to grow at a CAGR of 6.58% during 2024-2032. Fire alarm and detection systems are used to warn people by sounding alarms in case of a smoke, gas leak, fire and fire-related emergencies. These systems consist of various devices such as heat detectors, smoke detectors, carbon monoxide detectors, multi-sensor detectors, and manual call points. They detect the fire threat at the earliest to notify occupants and transmit a signal to the staff monitoring station either on or off-site to provide time for their safe evacuation. As a result, they find applications in chemical and petrochemical, oil and gas, pharmaceutical, aerospace, and defense industries. Nowadays, fire alarm and detection systems are also gaining traction due to their mandatory installation across commercial, residential, and industrial setups as a part of compulsory safety guidelines in various countries.

Global Fire Alarm and Detection System Market Trends:

The market is primarily driven by the increasing demand for fire safety and security in residential sectors due to a significant rise in construction activities across the globe. Fire alarm and detection systems minimize the risks of fatal fire accidents, and monitor the building and surrounding areas for fire outbreaks. In addition, extensive investment in infrastructural development by governments and non-governmental agencies is also propelling the need for installing fire alarm and detection systems. Moreover, various emerging economies are imposing stricter fire hazard safety compliances, which is fueling the market growth. Besides this, fire alarms and detection systems are used to detect smoke in restrooms and fire in laboratories to ensure the safety of individuals. Furthermore, several key manufacturers are developing smoke detectors that are integrated with the Internet of Things (IoT), artificial intelligence (AI), and Big Data technologies, creating a positive outlook for the market. These factors are anticipated to propel market growth in the upcoming years.

Market Summary:

Based on the product type, the market has been segmented into fire alarms (audible alarms, visual alarms, and manual call-points) and detectors (flame, smoke, and heat detectors).
On the basis of detection technology, the market has been classified into addressable and conventional.
The market has been categorized based on the offering into hardware (control panels, sensors and initiating components, notification and audio components, and others) and software.
On the basis of the connectivity, the market has been bifurcated into wired and wireless.
Based on the end user, the market has been segregated into commercial, residential, and industrial.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being Carrier Global Corporation, Channel Safety Systems Limited, Eaton Corporation PLC, Fike Corporation, Haes Technologies Limited, Halma PLC, Hochiki Corporation, Honeywell International Inc., Napco Security Technologies Inc., Nittan Corporation Limited (Secom Corporation Limited), NSC Sicherheitstechnik GmbH, and Siemens AG.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Detection Technology, Offering, Connectivity, End User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Carrier Global Corporation, Channel Safety Systems Limited, Eaton Corporation PLC, Fike Corporation, Haes Technologies Ltd, Halma PLC, Hochiki Corporation, Honeywell International Inc., Napco Security Technologies Inc., Nittan Co. Ltd (Secom Co. Ltd.), NSC Sicherheitstechnik GmbH and Siemens AG
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
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Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Fire Alarm and Detection System Market to Grow at 6.58% During 2024-2032, Bolstered by Implementation of Fire Safety Initiatives

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