Fire Alarm and Detection Market expected to dominate the market with a CAGR of 8.12 percent during the forecast period, Regional insight
MAXIMIZE MARKET RESEARCH PRIVATE LIMITED
8 min read
MAXIMIZE MARKET RESEARCH PRIVATE LIMITED
Fire Alarm and Detection market is segmented by Product, Fire Detectors Type, Fire Alarms Type, and Application for the analysis. Growing demand for innovative smoke detection equipment in fire-prone industries such as oil and gas, manufacturing, automotive and many more are expected to drive the Fire Alarm and Detection market growth. Bottom-Up approach was used for the estimation of Fire Alarm and Detection market size.
New York, US, March 09, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Electronics business-consulting firm, has published a market intelligence and competitive landscape report on the “Fire Alarm and Detection Market”. As per the report, which is a combination of primary and secondary data, the total market opportunity for the Fire Alarm and Detection market was USD 34.67 Bn in 2021 and is expected to grow at 8.12 percent CAGR over the forecast period to reach USD 64.76 Bn.
Market Size in 2021
USD 34.67 Bn
Market Size in 2029
USD 64.76 Bn
CAGR
8.12 percent (2022-2029)
Forecast Period
2022-2029
Base Year
2021
Number of Pages
264
No. of Tables
125
No. of Charts and Figures
120
Segment Covered
Product, Fire Detectors Type, Fire Alarms Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East and Africa, South America
Fire Alarm and Detection Market Scope and Research Methodology
The report provides the qualitative and qualitative analysis of the Fire Alarm and Detection Market based on segmentation involving both economic and non-economic factors affecting the market growth. The Fire Alarm and Detection Market has been divided into four major segments: by Product, Fire Detectors Type, Fire Alarms Type, and Application which were further divided into various sub-segments. The market segmentation helps to understand the Fire Alarm and Detection market structure and consumer base. The regional insights highlight the use of Fire Alarm in the regions with factors including drivers, restraints, challenges and opportunities affecting the growth of the markets. The report includes the competitive landscape, which provides detailed information on the position of key players in the Fire Alarm and Detection industry with their partnerships, business growth and acquisitions.
The Fire Alarm and Detection market report provides extensive company profiles of company overviews, company insights, product benchmarking and SWOT analysis for the key market players. The primary and secondary data collected for the Fire Alarm and Detection market report were combined and analyzed in detail, which helps to provide accurate and error-free data to clients. PESTLE analysis was used to understand the potential impact of the macroeconomic and micro-economic factors affecting the Fire Alarm and Detection Market. Porter’s five forces analysis is also included in the report, which helps to understand the Fire Alarm and Detection market through various perspectives. The report provides in-depth analysis of the growth opportunities in the market to the new market entrants. Thus, the report provides the current as well as future market outlook of the Fire Alarm and Detection industry in detail.
Fire alarm and detection systems are developed to detect fires in emergency situations. It warns people wherever the smoke, carbon monoxide, fire, or other fire-related things are detected. Detectors are coupled with alarms, which provides signal to the building occupants as well as transmits signal to the monitoring station either on or off site. Fire alarm and detection system consist of many devices such as heat detector, smoke detector, and carbon monoxide detector, and manual call points. Increased frequency of fire safety system deployment in residential and commercial areas are expected to influence the Fire Alarm and Detection market growth.
Fire Alarm and Detection Market Dynamics
Increased rate of fire safety system deployment in educational institutes and rise in awareness among residential and commercial sectors for fire detection are the factors expected to influence the Fire alarm and detection market growth. Advancement and innovation in the Fire alarm and detection system, rising awareness about fire safety, rapid urbanization and industrialization are expected to drive the Fire alarm and detection market growth. Expansion of the industrial and commercial sectors and growing awareness of fire safety impact the business landscape positively. Installation of Fire alarm and detection system from buses to homes is necessary to save lives and avoid injuries. Government authorities are taking initiatives for the implementation of fire protection systems at commercial as well as residential sectors, are the factors expected to fuel the Fire alarm and detection market growth.
High initial costs of the fire alarm and detection system along with concern related to false alarm and detection failure are expected to restrain the Fire alarm and detection market growth over the forecast period.
North America Region held the largest Fire alarm and detection market share accounting for 36.14 percent of total market share in 2021. The region is expected to dominate the Fire alarm and detection market over the forecast period. US region is the largest contributor of the Fire alarm and detection market growth. Stringent government regulations and rapid development in the infrastructure is expected to boost the regional Fire alarm and detection market growth.
Asia Pacific region is expected to be the fastest-growing regional Fire alarm and detection market during the forecast period. Investment on infrastructure development in the region is expected to fuel the regional Fire alarm and detection market growth.
Fire Alarm and Detection Market Segmentation
By Product:
Fire Detectors
Fire Alarm
By Fire Detectors Type:
Flame Detectors
Smoke Detectors
Heat Detectors
By Fire Alarms Type:
Audible Alarms
Visual Alarms
Manual Call-points
By Application:
Commercial
Industrial
Residential
Fire Alarm and Detection Market Key Players include:
Key questions answered in the Fire Alarm and Detection Market are:
What is Fire Alarm and Detection?
What was the Fire Alarm and Detection market size in 2021?
What is the forecast period of Fire Alarm and Detection market?
What will be the Fire Alarm and Detection market size by 2029?
What is the growth rate of the Fire Alarm and Detection Market?
Which are the factors expected to drive the Fire Alarm and Detection market growth?
What factors are expected to hamper the Fire Alarm and Detection market growth?
Which segment dominated the Fire Alarm and Detection market growth?
What is the demand pattern for the Fire Alarm and Detection market?
Which region held the largest share in the Fire Alarm and Detection market?
Who are the key players in the Fire Alarm and Detection market?
Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by Product, Detectors Type, Fire Alarms Type, and Application
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
Maximize Market Research is leadingElectronics research firm, has also published the following reports:
Fire Protection Systems Market: The total market size is expected to grow at a CAGR of 6.50 percent during the forecast period and is expected to reach USD 102.79 Bn by 2029. Increased expenditure from the enterprise segment, as well as government and political assistance are expected to influence the market growth.
Wireless Fire Detection Systems Market: The total market size is expected to grow at a CAGR of 8.4 percent during the forecast period and it is expected to reach USD 2.43 Bn by 2029. Wireless fire detection system triggers the alarm at early stage, so that people lives can be saved is expected to influence the market growth.
Fire Sprinkler Market: The total market size is expected to reach USD 1.73 Bn by 2029, at a CAGR of 9.36 percent during the forecast period. Increased fire protection expenditure of various enterprises and rise in fire-related deaths and loss of property is expected to drive the market growth.
Alarm Monitoring Market: The market size was valued at USD 52.92Bn in 2021 and is expected to grow by 5.4 percent from 2021 to 2029, reaching nearly USD 80.60 Bn. Growing prevalence of violent crimes all over the world is expected to drive the, market growth.
Fire Safety Equipment Market: The total market is expected to grow at a CAGR of 5.9 percent during the forecast period and is expected to reach USD 70.90 Bn by 2029. Advanced technologies like nanotechnology, human-machine interface solutions, and smart buildings are expected to boost the market size.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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