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Wireless Fire Detection System Market Analysis to 2024 with Siemens AG, EuroFyre Ltd., Honeywell International, Tyco International, PLC, Robert Bosch GmbH, Electro Detectors Ltd, EMS Wireless Fire and Security Ltd., Sterling Safety Systems, Halma PLC domi
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Wireless Fire Detection System Market size is projected to surpass 4 million units by 2024. Advancements in networking infrastructure and penetration of IoT devices across the globe are propelling the wireless fire detection system market demand. Additionally, government regulations for fire safety have led to several industry verticals, such as commercial building and manufacturing sector, to adopt these advanced technologies so as to minimize the financial, infrastructural, and human losses.
Increasing demand for safety & security has given rise to technological advancements such as video surveillance and intrusion detection. Manufacturers have started integrating multiple devices and technologies, which are contributing to the growing adoption of these devices. Additionally, these devices are inexpensive and provide enhanced aesthetics, flexibility, and lesser interruption during installation as there are no cable and drills requirements. Ease and convenience of installation will bode well for the wireless fire detection system market.
Wireless fire detection system market is characterized by the presence of heat, smoke, gas, and multi-sensor types. The demand for multi-sensor detectors will grow due to their capability to detect both smoke and heat. These devices are easy to install in a minimum time as compared to wired devices. In mining facilities and disaster evacuation, false alerts can stop the operations for long durations, causing inconvenience for hours and incurring financial losses. Multi-sensor detectors are widely used in these applications as they provide a high level of reliability, decreasing inconvenience and financial losses.
Customers in developed and developing economies are becoming aware of the technology and are ready to spend more for safety purposes. Rising disposable income of people has also encouraged people to adopt smart homes. The growing trends of connected devices in smart homes play a vital role in driving the wireless fire detection system market. As the products required for the technology must be highly ruggedized to protect the internal components, manufacturers, such as CISCO, are working on building them to complement the smart home infrastructure.
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Stringent government regulations regarding safety and a high degree of technology adoption have made China a dominant player in the wireless fire detection system market. China has a modern economy, which runs on reliable electricity, telecommunication, and roads & rails. Infrastructure development remains the top priority for the government of China as the government has spent huge funds on infrastructure for the economic growth.
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Some of the vendors in the wireless fire detection system market are Siemens AG, EuroFyre Ltd., Honeywell International, Tyco International, PLC, Robert Bosch GmbH, Electro Detectors Ltd, EMS Wireless Fire and Security Ltd., Sterling Safety Systems, and Halma PLC, amongst others. These players are adopting various strategies such as price differentiation, high amount of investments in the R&D for product innovations and enhancement in the reliability of the devices, and acquisition of technology providers to gain a competitive edge. In December 2017, Halma PLC announced the acquisition of Argus Security, which is a leading manufacturer of the technology. This move will strengthen the infrastructure safety sector in the UK.
Market share calculation in this report is not done based on companies covered in it. The calculation of Wireless Fire Detection System Market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
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https://www.marketwatch.com/press-release/by-2024-atm-market-to-reach-25-billion-2018-09-19
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