Global Voice Evacuation Systems Market 2019-2023 | Adoption of IoT to Drive Growth | Technavio

The global voice evacuation systems market research report by Technavio predicts the market to post a CAGR of around 11% during the period 2019-2023.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190111005329/en/

A key driver for the global voice evacuation systems market is the growth of the real estate and construction industries. There is an increase in hospitality, tourism, and residential construction projects due to the growth of the real estate industry, which has resulted in a demand for emergency alarm and evacuation systems, including voice evacuation systems. The rapid urbanization and substantial investments in infrastructure have been aiding the global construction industry to grow.

As per Technavio, the adoption of IoT in building control systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global voice evacuation systems market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Global voice evacuation systems market: Adoption of IoT in building control systems

The development of IoT has resulted in continuous growth in integrating IoT with building systems as well as safety equipment. IoT enhances data and control management without the need for human intervention. Traditionally, the voice alarm systems have been handled independently without any embedded support. But, changes in technology and integration of these technologies with existing systems have enhanced the reliability and eliminated redundancy and ensured quick response and notification.

“The development of mesh networks, which can connect every device as a node to a central location is anticipated to support the connectivity of all devices and support data collection. The organizations, which develop codes and standards will also play an essential role in developing codes such as NFPA 72 that are in line with the technological advances,” says a senior research analyst at Technavio.

Global voice evacuation systems market: Segmentation analysis

This voice evacuation systems market analysis report segments the market by end-user (commercial sector, industrial sector, and residential sector) and geography (the Americas, APAC, and EMEA).

The commercial sector held the largest voice evacuation systems market share in 2018, accounting for nearly 42% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.

The EMEA region led the market in 2018 with approximately 36% of the market share, followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2019-2023.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190111005329/en/