DUBLIN--(BUSINESS WIRE)--The "Fire Alarm and Detection Market Size, Share & Trends Analysis Report by Product, by Fire Detectors Type (Flame Detectors, Smoke Detectors), by Fire Alarm Type, by Application, by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global fire alarm and detection market size is expected to reach USD 75.3 billion by 2027, expanding at a CAGR of 8.5% over the forecast period.
Increasing awareness towards the safety and security of assets across the globe is expected to offer significant opportunities for technological innovations in the market. Additionally, rise in the consumer spending on fire protection devices especially across the enterprise and industrial sectors in order to reduce the risk of accidents is expected to spur market growth. Moreover, stringent government regulations and mandates regarding workplace safety, and increasing demand for state-of-the-art fire alarm & detection system is expected to fuel the market.
The need for upgrading the existing alarm and detection systems to advanced one and consequently complying with the stringent regulation will drive the market. Growing fire accidents has alarmed the need for installation of advanced alarm and detection systems across the residential, commercial, and industrial sectors. For instance, Legislative requirements from different countries including the National Fire Protection Association, USA, and Building Code of Australia have mandated the installation of fire detection devices, thereby boosting the demand for these devices.
Further key findings from the study suggest:
- The fire detectors segment is expected to dominate the market owing to stringent government regulations across different countries that have mandated the installation of the devices. For instance, in India, National Building Code (NBC) was published in 2016 to implement building standards ensuring safety through the use of active and passive smoke detection systems. The segment is expected to reach USD 38.1 billion by 2027
- The smoke detectors segment is expected to dominate the fire detectors segment and the trend is expected to continue over the forecast period. The smoke detectors segment is anticipated to reach USD 17.0 billion by 2027. It is owing to the substantial use of smoke detectors in the commercial as well as residential buildings since they are cost-effective and have a longer lifespan as compared to other products
- The fire alarm and detection market primarily includes applications such as industrial, commercial, and residential. The commercial application segment dominated the market in 2019 and is projected to exhibit a CAGR of 8.5% from 2020 to 2027. It is owing to the stringent regulations and norms by the government for the installation of smoke detection system across commercial places such as hospitality, government, healthcare, telecom and IT, BFSI, retail, and institutional
North America is projected to account for the majority share of the market over the forecast period owing to the booming infrastructural developments and implementation of stringent fire safety regulations and norms in the regions. The region is anticipated to reach USD 21.8 billion by 2027
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
3. Market Definitions
3.1 Market Segmentation
4. Industry Outlook
4.1 Market Snapshot
4.2 Global Fire Alarm and Detection Market Trends
4.3 Global Fire Alarm and Detection Market
4.3.1 Product Segment Trends
4.3.2 Type Segment Trends
4.3.3 Application Segment Trends
4.3.4 Region Segment Trends
4.4 Value Chain Analysis
4.4.1 Vendor Landscape
4.5 Market Variable Analysis
4.5.1 Market Driver Analysis
4.5.2 Market Restraint Analysis
4.6 Penetration and Growth Prospect Mapping
4.7 Fire Alarm and Detection Market Key Company Analysis, 2019
4.8 Business Environment Analysis Tool
4.8.1 Fire Alarm And Detection Market: Pest Analysis
4.8.2 Fire Alarm And Detection Market: Porters Analysis
4.9 Competitive Landscape
4.9.1 Key Innovators
4.9.2 Key Strategic Initiatives, By Company
4.9.3 Key Strategic Initiatives, By Region
4.9.4 Key Strategic Initiatives, By Technology
5. Fire Alarm and Detection Market: Product Segment Analysis
5.1 Fire Detectors
5.2 Fire Alarms
6. Fire Alarm and Detection Market: Fire Detectors Type Segment Analysis
6.1 Flame Detectors
6.2 Smoke Detectors
6.3 Heat Detectors
7. Fire Alarm and Detection Market: Fire Alarms Type Segment Analysis
7.1 Audible Alarms
7.2 Visual Alarms
7.3 Manual Call-Points
8. Fire Alarm and Detection Market: Application Segment Analysis
9. Fire Alarm and Detection Market: Regional Analysis
9.1 North America
9.3 Asia Pacific
9.4 Latin America
10. Company Profiles
10.1 Bosch GmbH
10.3 Gentex Corporation
10.4 Halma plc
10.5 Hochiki Corporation
10.6 Honeywell International Inc.
10.7 Johnson Controls
10.8 Napco Security Technolgies, Inc.
10.9 Nittan Company, Ltd.
10.10 Siemens Building Technologies
10.11 Space Age Electronics
10.12 United Technologies Corporation
For more information about this report visit https://www.researchandmarkets.com/r/4tx3un.