Increasing health expenditure by governments of various countries of digitalization in health services are driving global fire alarm market revenue growth

VANCOUVER, BC, CANADA, November 7, 2022 /EINPresswire.com/ -- The Global Fire Alarm Market size was USD 30.20 Billion in 2021 and register a revenue CAGR of 7.2% over the forecast period, according to the latest analysis by Emergen Research. Strong government regulations to adopt fire detection and alarm systems in infrastructure projects and rapid development of sensor technology are key factors driving global fire alarm market revenue growth.

In addition, strong government regulations to adopt fire detection and alarm systems in infrastructure projects is another factor driving revenue growth of the market. Stringent regulations are put into effect by regulatory authorities of various countries, which have made installment of fire alarms mandatory in commercial and industrial buildings. For instance, NFPA 72, National Fire Alarm and Signaling Code has set guidelines to install a minimum number of fire and smoke alarms in residential places.

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Moreover, rapid development of sensor technology is expected to drive market revenue growth to a greater extent. Distributed optical fiber temperature sensor is one of the most advantageous heat monitoring devices for applications in fire protection. The entire optical fiber is used as detecting medium by optical fiber sensor, unlike conventional heat sensors. Development of models, sensors, and networks has been accelerated by governments and governmental agencies. Furthermore, a system for detecting fires indoors might include optical sensors that scan for smoke, thermal sensors that monitor temperature changes, and CO and CO2 gas sensors. However, ionization smoke detectors locate smoke from burning flames using electrically charged particles, or ions, while photoelectric smoke detectors locate smoke from smoldering fires using a light beam. Ionization and photoelectric detectors are both present in dual-sensor smoke detectors.

Some factors restraining fire alarm market revenue growth include higher installation cost and rising concerns regarding false alarms. These challenges can however be overcome with constant technological advancements in the field of fire alarms

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Some Key Highlights from the Report

On 21 June 2019, Halma plc. acquired Ampac, a leading fire and evacuation systems supplier in the markets of Australia and New Zealand. This acquisition of Ampac supports Halma’s strategy of growing its geographic footprint and increasing its fire system offering. The company continues to run under its current management team and has become a part of Halma’s Infrastructure Safety sector.

The heat detectors segment revenue is expected to account for largest share over the forecast period. Increasing incidences of fire breakouts and rapid advancements made in sensor technologies are major factors driving revenue growth of the market.

The addressable segment revenue accounted for largest share in 2021, which can be attributed to design flexibility in addressable fire alarm systems. In addressable systems, all devices are connected with one wire with all devices to fire alarm control panel, whereas with conventional systems, there is a different wire for each device and each wire connects to the fire alarm control panel.

The commercial segment revenue is expected to account for largest share over the forecast period. This can be attributed to increasing adoption of fire alarm systems in a commercial buildings, which have been made mandatory by governments of various countries.

The North America region is expected to account for largest revenue share over the forecast period. Fire alarm systems are in greater demand due to presence of strict requirements for fire alarm installations and rising frequency of fire accidents in the region.

Some major companies in the market report include Johnson Controls, Honeywell HBT, Napco Security Technologies, Inc., Nittan Company, Ltd., Siemens AG, Halma plc., Hochiki America Corporation, Bosch Sicherheitssysteme GmbH, Eaton, and Carrier.

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Emergen Research has segmented the global fire alarm market based on type, technology, application end user, and region:
Type Outlook (Revenue, USD Billion, 2019–2030)
Heat Detectors
Audible Alarms
Visual Alarms
Manual Call-points Alarms

Technology Outlook (Revenue, USD Billion, 2019–2030)
Addressable
Conventional

Application Outlook (Revenue, USD Billion, 2019–2030)
Commercial
Industrial
Residential

Regional Outlook (Revenue, USD Billion, 2019–2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
Israel
Rest of Middle East & Africa

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How will the Fire Alarm Market, 2022 to 2030 report help you?

In summary, our 250-page report provides you with the following knowledge:
Revenue forecasts to 2030 for Fire Alarm Market, 2022 to 2030 Market, with forecasts for include report segmentation and company size, each forecast at a global and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.

Revenue forecasts to 2030 for four regional and 20 key national markets – See forecasts for the Fire Alarm Market, 2022 to 2030 market in North America, Europe, Asia-Pacific and LAMEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.

Prospects for established firms and those seeking to enter the market – including company profiles for 15 of the major companies involved in the Fire Alarm Market, 2022 to 2030.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.

Thank you for reading our report. Please get in touch with us if you have any queries regarding the report or its customization. Our team will ensure the report is best suited to your needs.

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About Emergen Research

Emergen Research is a Marketresearch and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Marketintelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Ashwini Sharma
Emergen Research
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