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Flame Detector Market Size, Trends, Growth And Outlook By 2033
Flame Detector Market Size
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According to The Business Research Company's, The flame detector market size has grown strongly in recent years. It will grow from $1.85 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to emergency response optimization, integration with fire safety systems, enhanced sensitivity and false alarm reduction, urbanization and infrastructure development, oil and gas industry growth.
The flame detector market size is expected to see strong growth in the next few years. It will grow to $2.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to integration with smart building systems, focus on false alarm reduction, urban development and construction, expansion of oil and gas operations, environmental concerns and regulations. Major trends in the forecast period include customization and adaptability, focus on remote monitoring and control, environmental sustainability, wireless connectivity and mobility, miniaturization and compact designs.
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Market Drivers and Trends:
The increasing number of smart city projects is expected to propel the growth of the flame detector market going forward. A smart city is a city that uses digital technology and data-driven solutions to enhance performance and well-being and reduce costs and resource consumption. Flame detectors in smart cities provides early detection of fires, enabling swift response mechanisms, and enhancing overall safety measures, ensuring the protection of life and critical infrastructure in urban environments. For instance, in 2023, according to the IMD Smart City Index Report, a Switzerland-based business school, the number of smart cities has increased from 118 cities in 2021 to 141 in 2023. Therefore, the increasing number of smart city projects is driving the growth of the flame detector market.
Technology improvement in flame detectors is the key trend gaining popularity in the flame detector market. Major companies operating in the flame detectors market are developing innovative improvements to flame detectors such as internet of things (IoT) based, machine learning, voice alert systems, and others to sustain their position in the flame detectors market. For instance, in June 2021, Hyfire, a UK-based designer of wireless fire systems, launched EvacWireless centered on streamlining and assisting the fire and rescue operations in high-rise buildings. The system includes audio and visual alarm systems in each unit that provide unambiguous evacuation signals to residents, as well as evacuation alert control indicating equipment that can be managed by fire and rescue personnel. The Hyfire solution uses the EvacGo evacuation alert panel developed by MxPro 5 technology.
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Major Key Players of the Market:
Siemens AG, Emerson Electric Co., Bosch Sicherheitssysteme GmbH, Honeywell International Inc., Johnson Controls International PLC, Spectrex Corporation, MSA Safety Incorporated, Hochiki Corporation, Fike Corporation, Rezontech Co Ltd., Teledyne Technologies Incorporated, SENSE-WARE, Ciqurix Ltd., Viking GmbH & Co. KG, Optris GmbH, Det-Tronics, MicroPack Engineering Ltd., Simtronics ASA, Minnesota Mining and Manufacturing Company, Tyco Fire Protection Products, United Technologies Corporation, Kidde-Fenwal Inc., Fire Sentry Corporation, Apollo Fire Detectors Ltd., Net Safety Monitoring Inc., Riken Keiki Co. Ltd., Zeta Alarm Systems, Tecnoalarm S.r.l., Crowcon Detection Instruments Ltd., Sierra Monitor Corporation
Flame Detector Market 2024 Key Insights:
• The flame detector market size is expected to see strong growth in the next few years. It will grow to $2.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Human And Property Losses From Fires Drive Demand For Flame Detectors
• Flame Detectors Embrace Technological Advancements To Enhance Fire Safety
• North America was the largest region in the flame detectors market share in 2023
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