Fire Alarm System Market is projected to grow at a considerable CAGR of 7.2% during the forecast period. A sudden outburst of fire can have a far-reaching negative impact on the institution’s buildings, contents, and mission. Collections damage, operations and mission damage, structure damage, knowledge loss, injury or loss of life, and the threat to buildings security among others are the major severe consequences of fire outbreak. To minimize the negative consequences of fire, identification of a advancing fire emergency promptly is of utmost importance. The fire alarms are aptly designed for this purpose. Depending on the anticipated fire scenario, building and use type, number & type of occupants, and criticality of contents & mission, these systems can provide several main functions.
The growing adoption of the fire alarm system in commercial, residential, and industrial buildings for a safety measure against fire mishap is a key factor driving the demand for fire alarm systems across the globe, which in turn is anticipated to drive the growth of the global fire alarm system market. Moreover, the stringent government regulation regarding the use of fire safety equipment in commercial and industrial buildings is also encouraging the huge adoption of fire alarm systems in commercial and industrial buildings. Thereby, is anticipated to drive the market growth. However, product failure, unwanted or fake fire alarm are the key factors that are being responsible for the negligence of their importance; this may restrain the growth of the market.
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Fire Alarm System Market Segmentation
By Product
- Conventional Fire Alarm System
- Addressable Fire Alarm System
By Application
- Commercial
- Industrial
- Residential
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- ADT, LLC
- Bay Alarm Co.
- Carrier Global Corp.
- Eaton Corp.
- Fenwal Controls of Japan, Ltd.
- Fike Corp.
- Gentex Corp.
- Halma plc
- Hochiki Corp.
- Honeywell International, Inc.
- Johnson Controls International plc
- Koorsen Fire & Security, Inc.
- MAK Technologies, Inc.
- NAPCO Security Technologies, Inc.
- Nittan Company, Ltd.
- Panasonic Corp.
- Potter Electric Signal Company, LLC
- Robert Bosch GmbH
- Siemens AG
- Space Age Electronics, Inc.
- Tyco Fire & Security, Inc.
- United Technologies Corp.
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