Global fire alarm and detection market is expected to witness steady growth with a CAGR of 3.9% during the forecast period, 2019–2026

Fire Alarm and Detection Market

Fire alarm and detection technology aids in early fire detection and raises an alert via audio or visual indicators to prompt the safe evacuation of premises. Fire alarm and detection systems are arranged such that they cover an entire area and are capable of detecting smoke, heat, or gas leaks. The implementation of stringent regulations regarding fire safety by governments across regions is a key factor driving market growth. Other factors such as increasing smart city projects and rising awareness regarding safety and security are also expected to contribute to the growth of the fire alarm and detection market.

The Major Players Covered in this Report:
Emersion Electric Co., Fike Corporation, Gentex Corporation, Halma plc, Hochiki Corporation, and Honeywell International, Inc.

The global fire alarm and detection market is expected to witness steady growth with a CAGR of 3.9% during the forecast period, 2019–2026.

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By Alarm Technology, Conventional, Addressable

By Detector Technology, Smoke, Heat, Flame

By Application, Commercial, Industrial, Residential

Market Segmentation

The fire alarm and detection market can be segmented by alarm technology, detector technology, application, and geography.

On the basis of alarm technology, the market can be segmented into conventional and addressable alarm technology. The addressable alarm technology segment is expected to hold the largest share in the fire alarm and detection market, due to the relatively low cost of this technology as compared to conventional alarm technology.

By detector technology, the fire alarm and detection market can be segmented into smoke, heat, and flame. The smoke detector segment is projected to grow at the highest CAGR during the forecast period, due to the increasing installation of smoke detector systems at commercial places.

By application, the market can be segmented into commercial, industrial, and residential. Among these, the commercial segment is expected to grow at the highest CAGR over the forecast period, due to the increasing installations at schools and offices.

Regional Analysis For Fire Alarm and Detection Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Fire Alarm and Detection are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

Why Buy This Report?

The fire alarm and detection technology market have been slow to evolve as compared to other smart devices. However, a lot of emerging technologies are likely to reframe how consumers think about detecting and extinguishing fires, including Sensor-Assisted Fire Fighting, High-Pressure Water Mist, wireless devices, and fireballs. With the evolution of new technologies, manufacturers are leveraging both timeless and emerging technologies to target more customers.

In our report, we have included a deep analysis of the fire alarm and detection technology market in terms of value by technology, detection technology, application, and geography. We have also covered a detailed analysis of major factors such as drivers, restraints, challenges and opportunities. Some of the key inclusions are,

Definitive Market Data
Fire Alarm and Detection Market Analysis
Recent Opportunities in the Market
6-7-Year Performance Forecasts: Major Segments Covering Technology, Component Applications, and Geographies
Market Share Analysis
Technology Assessment

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This release was published on openPR.