Wireless Fire Detection Systems Market is expected to be valued at USD 303.8 million by 2020
NEW YORK, June 26, 2017 /PRNewswire/ -- Highlights
· Technological advancements in equipment and networking along with improvement and enhancement of various codes and standards fueling the growth of the wireless fire detection systems market
· The wireless fire detection systems market is expected to be valued at USD 303.8 million by 2020, growing at a CAGR of 7.7% between 2016 and 2020.
· The market is driven by increasing emphasis on aesthetics and design and the ease involved in installing these systems.
· The improvement in the existing government regulations and mandates regarding fire protection systems is a major driving factor for this market.
· Sensors/detectors expected to have a robust demand during the forecast period
· Several types of technologies for sensing and detecting the presence of fire are available in the market including smoke detectors, heat detectors, gas detectors, and multisensor detectors.
· The latest trend in the industry is the integration of the detectors and sensor technologies within a single detector, resulting in greater efficiency and lowered cost.
· The robust growth in infrastructure, utilities, and facilities is increasing the need for a greater adoption of advanced sensors and detectors across the globe.
· North America and Europe are the major markets for wireless fire detection systems
"Technological advancements in equipment and networking along with improvement and enhancement of various codes and standards fueling the growth of the wireless fire detection systems market"
The wireless fire detection systems market is expected to be valued at USD 303.8 million by 2020, growing at a CAGR of 7.7% between 2016 and 2020. The market is driven by increasing emphasis on aesthetics and design and the ease involved in installing these systems. The improvement in the existing government regulations and mandates regarding fire protection systems is a major driving factor for this market. However, the lack of acceptance in the market due to high maintenance cost and low-reliability perception act as restraints for the wireless fire detection systems market.
"Sensors/detectors expected to have a robust demand during the forecast period"
Several types of technologies for sensing and detecting the presence of fire are available in the market including smoke detectors, heat detectors, gas detectors, and multisensor detectors. The latest trend in the industry is the integration of the detectors and sensor technologies within a single detector, resulting in greater efficiency and lowered cost. The robust growth in infrastructure, utilities, and facilities is increasing the need for a greater adoption of advanced sensors and detectors across the globe.
"North America and Europe are the major markets for wireless fire detection systems"
North America held the largest share of the wireless fire detection systems market in 2015. Europe is one of the potential markets for wireless fire detection systems globally and is expected to grow at the highest CAGR during the forecast period. European countries are home to a number of wireless fire detection system manufacturers. A significant growth of the wireless fire detection systems market in Europe can be attributed to the stringent government mandate on the installation of smoke detectors or smoke alarms in homes from European countries such as the UK, France, and Germany.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people. The breakup of the profile of primary participants is given below:
-- By Company Type: Tier 1 = 36%, Tier 2 = 42%, and Tier 3 = 22%
-- By Designation: C-Level Executives = 37%, Directors = 34%, and Others = 29%
-- By Region: North America = 33%, Europe = 36%, APAC = 21%, and RoW = 10%
The prominent players profiled in this report are EMS Wireless Fire and Security Ltd (UK), Electro Detectors Ltd (UK), Sterling Safety Systems (UK), Honeywell International Inc. (US), Siemens AG (Germany), Tyco International PLC (Ireland), HOCHIKI Corporation (Japan), Halma Plc (UK), Robert Bosch Gmbh (Germany), EuroFyre Ltd (UK), and Detectomat Gmbh (Germany), among others.
Research Coverage:
The report aims at estimating the size of the wireless fire detection systems market and growth potential of this market across different segments such as product, system type, installation type, vertical, and geography. Furthermore, the report also includes the industry trends, market dynamics, regulation analysis, and competitive analysis of the key players in the market, along with their company profiles, SWOT analysis, and recent developments.
Key Benefits of Buying the Report:
The report would help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall wireless fire detection systems and the subsegments. This report would help stakeholders to understand the competitor landscape better and gain insights to position their businesses better and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report: http://www.reportlinker.com/p04950109/Wireless-Fire-Detection-Systems-Market-by-Product-System-Type-Installation-Type-Vertical-and-Geography-Global-Forecast-to.html
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