Global sales of Fire Alarm Systems Market stood at around US$ 21,069 Mn in 2021, and is slated to increase at a CAGR of 5.8% to reach a valuation of US$ 33,521 Mn by 2029.
The Fire Alarm Systems Market is slated to increase at a CAGR of 5.8% to reach a valuation of US$ 33,521 Mn by 2029. The commercial and residential construction sectors now have to follow strict government safety standards and regulations regarding fire alarm systems and fire safety components. Modern systems have advanced capabilities as compared to the older, basic ones, including advanced equipment for smoke/flame detection and signalling.
These systems use new technologies such as cloud-based fire alarm control panels and video-based smoke/flame detectors. Commercial fire alarm systems are capable of detecting threats and generating a signal in order to alert people in the building and deliver information to the monitoring company, allowing them to deploy emergency responders.
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Key Takeaways of Fire Alarm System Market Study
Increasing Demand for Fire Alarm Systems in Construction Industry
The industrial sector requires secure facilities that integrate industrial process systems and equipment designed to produce end products such as vehicles, textiles, chemicals or processed metals, and electricity. Rising demand for secure infrastructure is expected to lead to increasing installation of fire alarm systems.
Competitive Landscape
Key providers of fire alarm systems are focusing on adding innovative capabilities into their current fire safety solutions. This is helping them to enhance and upgrade their fire alarm systems portfolio.
Key Players
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More Valuable Insights on Fire Alarm Systems Market
Future Market Insights offers an unbiased analysis of the global fire alarm systems market, providing historical data for 2014-2021 and forecast statistics for 2022-2029.
Fire Alarm Systems Market Outlook By Category
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Aug 11, 2022