Market Research Report
Global Fire Alarm System Market 2020-2026
|Global Fire Alarm System Market 2020-2026|
Published: November 23, 2020
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Global Fire Alarm System Market Size, Share & Trends Analysis Report by Product (Conventional Fire Alarm System, Addressable Fire Alarm System) by Application (Commercial, Industrial, Residential) Forecast Period (2020-2026)
The global fire alarm system market is anticipated to exhibit considerable CAGR during the forecast period. The government of major countries across the globe has implemented stringent fire safety and security norms, which mandate the installation of the smoke alarm and detection systems in commercial, residential, and industrial places. The growing adoption of fire alarm systems in commercial, industrial, and residential buildings owing to the increasing stringency in the fire safety regulations is anticipated to drive the growth of the fire alarm system market.
The fire alarm system market is segmented based on products and applications. Based on product, the fire alarm system market is segmented into conventional fire alarm systems and addressable fire alarm systems. Based on application, the market is segmented into commercial, industrial, and residential. The compulsion of installing fire safety systems in commercial buildings for purpose of getting insurance is anticipated to drive the growth of this market segment.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to hold a major market share in the global fire alarm system market. The US is home to various multinationals. The huge adoption of a fire alarm system in the commercial buildings of these companies is anticipated to make a major contribution to the growth of the regional market. Asia-Pacific is anticipated to exhibit considerable growth during the forecast period. The growing adoption of fire alarms in the hire rise buildings of the emerging economies in the region is anticipated to drive the growth of the regional market.
Key market players contributing to the growth of the global fire alarm system market include Johnson Controls International plc, Honeywell International, Inc., NAPCO Security Technologies, Inc., United Technologies Corp., Panasonic Corp., Robert Bosch GmbH, and Carrier Global Corp. The diverse product portfolio, adoption of different growth strategies continuously, strategically positioned R&D centers, and technological advancements are some of the major activities the players in the fire alarm system market are adopting to remain competitive in the marketplace.
The market study of the global fire alarm system market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: