Fire Protection System Market by Product (Fire Suppression, Fire Detection, Fire Sprinkler, Fire Analysis, Fire Response), Services (Engineering, Installation and Design, Managed, Maintenance) and Region - Global Forecast to 2027
The global fire protection system market size is estimated to grow from USD 66.8 billion in 2022 to USD 92.1 billion by 2027, at a CAGR of 6.6%. The use of wireless fire detection systems is increasing with evolving wireless technologies. The emergence of fully automated building control systems is a crucial development in this line. New smart buildings have a single control interface for applications, such as HVAC, lighting control, security, and fire safety. The predominant factor contributing to the growth of the wireless fire detection system market is the increase in the construction of small- and large-scale residential and commercial buildings worldwide. Because of these advances, wireless fire detection systems are steadily gaining acceptance.
"" Fire analysis segment is projected to grow at the highest CAGR during the forecast period”
The fire analysis segment is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing need for sophisticated fire analysis, which helps in proper decision-making and fire prevention. This growth is driven by increased fire protection-related expenditure of various enterprises, increased fire-related deaths, and governmental norms. A fire protection system can work effectively if a proper analysis of events is done. Fire analysis is an important part of fire protection, which facilitates informed decisions that lead to maximum efficiency. Fire analysis uses various types of software and technology solutions, such as fire mapping and analysis software and fire modeling and simulation software. Along with this, cloud-based solutions, remote management solutions, and IoT & AI-based software solutions for fire management are also included in the scope of this section.
By product, the fire suppression segment is expected to lead the market for fire protection systems during the forecast period. The growth of this market is propelled by technological advancements and innovations in the construction industry; a rise in the number of policies, regulations, and government mandates; and increased damage to human life and property due to fire breakouts. A fire suppression system starts operating once it receives fire alerts from sensors and detectors. The fire suppression system includes fire sprinklers, nozzles, caps, and control heads; fire suppressor materials; and fire detectors and control panels. The section covers various types of fire extinguishers that use water, foam, carbon dioxide (CO2), and other fire-resistant materials to control the fire.
Major players profiled in this report are as follows: Carrier Global Corporation (US), Honeywell International Inc. (US), Johnson Controls (Ireland), Robert Bosch GmbH (Germany), and Siemens (Germany) and others.
In this report, the fire protection system market has been segmented based on type, product, service, vertical, and region. The fire protection system market based on type has been segmented into active fire protection systems and passive fire protection systems. Based on product, the market has been segmented into fire suppression, fire sprinkler, fire detection, fire analysis, and fire response. Based on services, the market has been segmented into engineering services, installation and design services, maintenance services, managed services, and other services. Based on vertical, fire protection system market has been segmented into residential, commercial, and industrial. The study also forecasts the size of the market in four main regions—North America, Europe, Asia Pacific, and RoW.
Key Benefits of Buying the Report:
The report would help market leaders/new entrants in this market in the following ways:
This report segments of the fire protection system market comprehensively and provides the closest approximation of the overall market size and subsegments that include product, services, vertical, and region.
The report would help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities pertaining to the fire protection system market.
This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
The competitive landscape section includes the competitor ecosystem, as well as growth strategies such as product launches and acquisitions carried out by major market players.
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