Press release
Intelligent evacuation system Market to Reach $1.15 Billion | by 2030 at 6.4% CAGR
Intelligent evacuation system Market
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.
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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. 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 the market growth.
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.. 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 area 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.
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Regional Analysis:
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.
The key players profiled in this report include
ABB Group
Automated Logic
Beckhoff Automation GmbH & Co. KG
Eaton Corporation Plc
HOCHIKI Corporation
Honeywell International
Johnson Controls International Plc
Legrand
Robert Bosch GmbH
Siemens AG
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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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By type, the voice evacuation system segment dominated the intelligent evacuation system market in 2020, and is expected to continue its dominance in the coming years, owing to high efficiency of handling emergency situation, and demand for advanced solutions. However, emergency lighting segment is expected to witness growth at the highest rate owing to incorporation of smart technologies in lighting industry and technological advancement in lighting industry.
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