Intelligent Evacuation System Market Drivers Shaping Future Growth, Revenue USD 1.15 billion by 2030 | ABB Group, Automated Logic

According to a recent report published by Allied Market Research, the global intelligent evacuation system market size was valued at $0.63 billion in 2020, and is projected to reach $1.15 billion by 2030, registering a CAGR of 6.4% from 2021 to 2030.

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Increased market for automated building solutions drive the growth of the market. In addition, supportive industry standards and regulations pertaining to smart cities development fuels the growth of the i market. However, higher installation and maintenance costs is expected to impede the growth market. Furthermore, increase in market for smart cities is expected to provide lucrative opportunities for the intelligent evacuation system market growth.

By end user, the commercial segment dominated the intelligent evacuation system market size in 2020, and is expected to continue its dominance in the coming years, owing to rapidly evolving infrastructure complexities, congested escape routes, and increased acceptance of application-specific solutions that facilitate phased evacuation.

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However, the residential segment is expected to witness growth at the highest rate owing to, factors such as increased market for smart homes and development of application specific solutions.

Region wise, the intelligent evacuation system market was dominated by North America in 2020, owing to the presence of strong regulatory framework and favorable government policies. However, Asia-Pacific is expected to witness growth at the highest rate owing to supportive regulatory standards from major countries like China, Japan, India, and Australia.

With the onset of a worldwide pandemic and numerous social distancing measures and lockdowns, the majority of people were forever trapped in their houses, increasing the risks of accidents at home. Furthermore, a lack of entertainment has contributed to the popularity of barbecues in families to occupy oneself during excellent weather.

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This resulted in hot cinders from barbecues catching fire in dumpsters, gas canister explosions, and even the heat from barbecues melting conservatories. When comparing the post-lockdown situation to the pre-lockdown condition, there is a significant difference in the primary locations of fire reports, with the outdoor areas seeing an increase of over 187% in the number of events recorded following the transition.

Majority of the accidents occurred due to people burning garden waste and household rubbish in incinerators or on bonfires. In addition, embers have blown away or fires have got out of hand , causing damage to garages, fences, and sheds.

The key players profiled in the intelligent evacuation system market analysis are ABB Group, Automated Logic, Beckhoff Automation GmbH & Co. KG, Eaton Corporation Plc, HOCHIKI Corporation, Honeywell International, Johnson Controls International Plc, Legrand, Robert Bosch GmbH, and Siemens AG.

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These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures, to strengthen their foothold in the global intelligent evacuation system industry.

Key Findings Of The Study:

• On the basis of type, the voice evacuation system segment accounted for the largest intelligent evacuation system market share in 2020.

• Region-wise, North America generated highest revenue in 2020.

• By end user, the commercial segment generated the highest revenue in 2020.

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