Fire protection systems market to grow to over $93 B

Hadapsar, India

The latest report on the Fire Protection Systems Market from Marketsandmarkets shows that this sector is expected to grow from USD 52.19 Billion in 2016 to USD 93.46 billion by 2022, at a CAGR of 9.7% between 2017 and 2022.

According to the researchers, as a result of the increase in fire hazards, government agencies across the globe are implementing stringent measures to reduce the losses from fire. The increase in fire-related spending by a number of enterprises and SMEs across the globe is driving the demand for fire protection systems. There has been a tremendous advancement in the facilities management environment of developing nations over the past several years, especially in the area of building automation. Various security aspects of building automation include monitoring & control systems such as HVAC, power production, lighting, safety, and security systems and elevators, among others.

The market for passive fire protection systems is expected to grow at the highest rate during the forecast period. Passive fire protection systems work on the principle of strengthening building structure and helping in leveraging the profitability by reducing the damages involved in fire accidents. One of the vital features of the passive fire protection system is a cluster of codes and regulations to be followed.

The fire suppression systems held the largest share of the global fire protection market based on products in 2016. The fire suppression systems such as sprinklers and extinguishers are expected to be used extensively in the commercial vertical during the forecast period. The market for fire analysis software is expected to grow at the highest rate in the fire protection systems product market during the forecast period. The high growth rate of fire analysis software is owing to the increasing need for sophisticated fire analysis, which helps in proper decision-making and fire prevention.

The commercial vertical is expected to hold the largest share of the fire protection systems market by 2022, while the fire protection systems market for the oil, gas, and mining vertical is expected to grow at the highest rate between 2017 and 2022 due to the high risk of fire associated with this sub-sector.

North America is expected to hold the largest market share and dominate the fire protection systems market between 2017 and 2022, mainly due to the increased awareness of the installation of fire safety systems and government fire safety regulations. In this region, there are numerous fire protection systems and equipment manufacturers that offer different fire protection systems such as smoke detectors, flame detectors, heat detectors, sprinklers, extinguishers, fire alarms, sirens, control panels & interfaces, fire analysis software, and many other products, along with fire service providers.

The major players in the fire protection systems market include Honeywell International Inc., Johnson Controls, Tyco, Siemens, and United Technologies among others.


Business News

IoT Security Market worth $29.02 billion by 2022

According to a new market research report on the Internet of Things (IoT) Security Market to 2022, the market is expected to grow from USD 6.62 billion in 2017 to USD 29.02 billion by 2022. The report from Marketsandmarkets covers major IoT security types, such as network security, endpoint security, application security, cloud security, and others. Increasing ransom ware attacks on IoT systems, securing ubiquitous environment, and increasing need for data centric security are the major drivers for the growth of IoT security market.

Business News

Grenfell fire - could it have been avoided?

Euralarm has joined with its UK Member the FIA in expressing its sincere condolences to all those affected by the Grenfell Tower tragedy. In addition, they praise the fire service for its prompt and professional response.  

Notably, in the following statement the organisation says that the knowledge and technology readily exists to avoid such catastrophic fires on such a scale and that it will continue to campaign to improve fire safety legislation. 

Business News

Airlive Smart kits attract attention at Computex

Airlive (by Ovislink Corp) recently enjoyed great visitor interest, when they participated at the 36th Computex Taipei, held on May 30 - June 3, 2017, with their themes of advanced ICT applications, industrial network management switches, industrial level serial to 4G/LTE M2M devices, vehicle suitable LTE Gateways, PoE cameras, AC.Top wireless access point and the innovative Airlive “Smart Life IoT” kits for automated home solutions.

Product Suppliers
Back to top