The Fire Alarm Technology market industry reached USD 29.91 billion in 2021, and it is projected to achieve a revenue compound annual growth rate (CAGR) of 7.3% during the forecast period. The increasing occurrences of structural fires in residential and commercial properties are the main drivers of market revenue growth. In 2020, the National Fire Protection Association (NFPA) reported approximately 490,500 structural fires in the U.S., resulting in 2,730 civilian fire deaths and USD 12.1 billion in direct property damage. To address these concerns and ensure the safety of people and properties, a large number of end-users are adopting Fire Alarm Technology systems. The implementation of Fire Alarm Technology systems helps alert individuals and firefighters about potential fire hazards, contributing to the safety of residential and commercial properties.

Electrical distribution systems are globally recognized as one of the leading causes of residential structure fires. Concerns related to electrical short circuits and overloaded currents are increasing the risks of fire and subsequent damages among consumers. Consequently, homeowners and developers are investing significantly in Fire Alarm Technology systems to prevent the potential risks of fire and smoke. According to the Electrical Safety Foundation International (ESFI) in the U.S., home electrical fires account for approximately 51,000 fires each year, causing nearly 500 deaths, over 1,400 injuries, and USD 1.3 billion in property damage. Furthermore, insurance companies may not consider fire damage claims if Fire Alarm Technologys or smoke detectors are absent in the building. Insurance companies adhere to protective safeguard provisions for fire-related damage claims, creating awareness among commercial property owners about the importance of installing Fire Alarm Technology systems. These factors play a significant role in driving the revenue growth of Fire Alarm Technology systems.

To download a PDF sample copy of the report, visit @ https://www.reportsanddata.com/download-free-sample/5373

Some Key Highlights From the Report

  • The manual initiating devices segment is accounted for a larger revenue share in 2021. Manual pull station types are convenient to initiate a Fire Alarm Technology in case of an emergency. This means an individual has to break the glass or plastic covers containing pull station for triggering the alarm button. Two types of pull stations such as single action or dual action Fire Alarm Technology product types are commercially available in the market. Automatic initiating devices automatically activate after detecting heat, smoke, or fire. One of the major advantages of automatic devices is that it quickly senses before it spreads. A large number of builders, developers as well as consumers highly adopt manual pull stations for prevention of fire, these factors are significantly driving revenue growth of the segment.
  • The addressable system segment is accounted for a larger revenue share in 2021. Addressable system is wired connected through loop system with control panel DIP (Dual In-Line Package) switches. Addressable systems can be connected in a single loop up to 99 devices and wire be extended up to 3.3 km depends on the ability of fire control panel system. These systems are convenient to monitor and fire locations can be easily figured out from connected circuit. Intelligent systems are highly complex and expensive as compared to conventional as well as addressable fire detection systems. These systems are incorporated with accurate sensors and computerized algorithms. Wireless alarm systems are cost friendly due to quick wireless installation without shutting down entire premises. Wireless Fire Alarm Technology systems are remotely interconnected through control panel and central Fire Alarm Technology circuit can be activated through call point radio signal transmission.
  • Commercial segment accounted for a larger revenue share in 2021. Fire Alarm Technologys are highly adopted in commercial spaces such as office, hospitals, schools, shopping mall and retail stores, hotels and restaurants, and others. According to research, fires in commercial properties cost owners over USD 2.4 billion per year. Commercial property fires such as hotels, restaurants and cafes are caused by food preparation from stoves and ovens. Industrial fires are major segment in generating revenue in the Fire Alarm Technology market. According to, the National Fire Protection Association (NFPA) the U.S., structure fire such as commercial or industrial buildings accounted for 35% in 2020. A large number of industrial fire instances are caused by electrical malfunctions. Fire Alarm Technologys are highly adopted in industrial premises such as factories, manufacturing shop floor warehouses for fire-related emergencies. Home fire instance has been increased over the years. A large number of residential owners are installing Fire Alarm Technologys to prevent fatalities and damages from fire, which is significantly driving revenue growth of the segment.
  • North America accounted for largest revenue share in the Fire Alarm Technology market in 2021. Increasing instances of fire and fatalities in the region is driving revenue growth of Fire Alarm Technology market. According to the Insurance Information Institute (III), every 89 sec a home fire and property loss occurred and damages accounted for USD 32,430 million in the U.S. These instances are increasingly generating demand for Fire Alarm Technologys. Moreover, stringent regulations and fire prevention regarding installation of Fire Alarm Technologys in public properties such as offices, hospitals, schools, shopping malls, and retail stores are driving revenue growth in the region.

Competitive Landscape:

Robert Bosch GmbH, Siemens AG, Honeywell International Inc., Schneider Electric, Eaton Corporation plc, Napco Security Technologies, Inc., Carrier, ABB, Kentec Electronics Ltd., and NITTAN COMPANY, LTD

Inquiry before buying @ https://www.reportsanddata.com/inquiry-before-buying/5373

The global market is further segmented into type and application:

Product Type Outlook (Revenue, USD Billion; 2019-2030)

  • Manual initiating devices
  • Automatic initiating devices
  • Others

Connectivity Outlook (Revenue, USD Billion; 2019-2030)

  • Addressable system
  • Intelligent system
  • Wireless system
  • Others

End-use Outlook (Revenue, USD Billion; 2019-2030)

  • Commercial
  • Industrial
  • Residential

Detectors Outlook (Revenue, USD Billion; 2019-2030)

  • Ionization Detectors
  • Photoelectric Detectors
  • Heat Detectors

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Takeaways of the Competitive Overview Section:

  • Overview of the company profiles of each market player
  • Industrial chain analysis of each player
  • Revenue share contribution
  • Sales network and distribution channels and net profits and losses of each company
  • Key business growth strategies are undertaken by these players

Request a customized copy of the report @ https://www.reportsanddata.com/request-customization-form/5373

Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.

Get Explore Latest Research Report by Reports and Data:

Broadcast Scheduling Software Market - https://www.reportsanddata.com/report-detail/broadcast-scheduling-software-market

Car Wash Service Market - https://www.reportsanddata.com/report-detail/car-wash-service-market

Deck Design Software Market - https://www.reportsanddata.com/report-detail/deck-design-software-market

Diesel Generator Market - https://www.reportsanddata.com/report-detail/diesel-generator-market

Industrial Computed Tomography (CT) Market - https://www.reportsanddata.com/report-detail/industrial-computed-tomography-ct-market

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]

Browse More ICT Industry Related Reports @ https://www.reportsanddata.com/report/category/information-technology