Intelligent Evacuation System Market Forecasted to Hit $1.15 Billion by 2030, Growing at 6.4% CAGR

According to a recent report published by Allied Market Research, titled, "Intelligent Evacuation System Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030," 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.

An intelligent evacuation system is a form of alert and reaction generation facility that is aimed to improve the safety of people who are at risk due to an emergency scenario. It allows for a proper and safe evacuation procedure. This system manages an orderly evacuation and alerts the building's residents to a range of changing event situations, such as a fire, a chemical occurrence, harsh weather, and violence. It is made up of a combination of hardware and software that allows for automatic reaction.

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Furthermore, the key factor that drives the intelligent evacuation system market size includes increase in market for automated building solutions drive the growth of the market. In addition, supportive industry standards and regulations fuels the growth of the intelligent evacuation system market. However, higher installation and maintenance costs is expected to impede the market growth. Furthermore, increased market for smart cities is expected to provide lucrative opportunities for 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. However, 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.

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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 themselves during excellent weather. 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 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.

Key Findings Of The Study

1. Based on type, the voice evacuation system segment accounted for the largest intelligent evacuation system market share in 2020.

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

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

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. 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.

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