The global fire alarm system market is anticipated to exhibit a CAGR of 7.2% during the forecast period. The presence of stringent government regulations regarding the use of fire safety appliances in commercial and industrial buildings is anticipated to drive the demand for fire alarm systems across the globe. The rising demand for the fire alarm system to avoid fire mishaps is anticipated to drive the growth of the global market. Looking towards the rising demand for fire alarm systems, several players are launching new fire alarm systems in the market to meet the emerging requirement of their customers.
For instance, in September 2019, ABB, Ltd. had launched its new Alarm-Stick, which integrates ABB’s smoke, heat, and carbon monoxide (CO) detectors into ABB-free@home. The new Alarm-Stick connects to the ABB-free@home System Access Point via USB and communicates wirelessly to the detectors, utilizing the VdS 3515 certified detector protocol, making the integration process extremely easy. In May 2019, C-Tec, an electronic equipment manufacturer had launched a grade C domestic fire alarm system in UK. This new IoT fire alarm management package offers floor plan graphics, remote access capabilities, and mobile app connectivity. The increasing focus of manufacturers in launching innovative alarm system is anticipated to drive the global fire alarm system market.
OMR Global Recently Published Report on: https://www.omrglobal.com/industry-reports/fire-alarm-system-market
Global Fire Alarm System Market Report Segment
By Product
- Conventional Fire Alarm System
- Addressable Fire Alarm System
By Application
- Commercial
- Industrial
- Residential
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