The fire protection systems market is expected to be worth USD 93.46 billion by 2022, growing at a CAGR of 9.7% between 2017 and 2022. The current marketplace is expected to be driven by increased fire-related expenditure of various enterprises, along with the rising trend of automation in commercial buildings and smart homes. In addition, improvement in the existing government regulations and mandates regarding fire protection systems are driving this market.
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Demand for fire protection systems has grown considerably in last decade since most of countries are committed to safety regulations, and thus they are being used in a wide range of sectors such as residential, commercial, manufacturing, oil & gas, and energy & power. With continuous advancements in technology and regular revision of legislation, fire protection systems are expected to gain popularity as a sustainable solution for protection of human lives.
2 Value Chain Analysis
3 Latest Trends in the FPS Market
4 Role of Evolving Internet of Things (IoT) in FPS Market
5 Increasing Usage of Water Mist Systems
6 Rapid Development in Wireless Technologies for Fire Detection
7 Video Image Smoke and Flame Detection Systems
8 Increasing Trend of Localization of Value Chain Activities in Developing Countries
Fire protection systems market is segmented into fire detection systems, fire suppression systems, fire analysis software, fire response systems.
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Fire suppression systems held largest share of global fire protection systems market based on products in 2016. Market for fire analysis software is expected to grow at highest rate during forecast period.
High growth rate of fire analysis software is owing to increasing need for sophisticated fire analysis, which helps in proper decision-making & fire prevention.
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The maintenance services held the largest share of the global fire protection systems market in 2016. The market for these services is expected to grow at the highest CAGR during the forecast period.
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.
Key Target Audience:
- Fire protection systems component manufacturers
- Fire protection systems product manufacturers (ODMs)
- Fire protection systems original equipment manufacturers (OEMs)
- ODM and OEM technology solution providers
- Assembly, testing, and packaging vendors
- Distributors and traders
- Research organizations, fire protection organizations, forums, alliances, and associations
This report provides valuable insights into the ecosystem of the fire protection systems market. The major players in this market include Honeywell International Inc.
(US), Siemens AG (Germany), Tyco International PLC (Ireland), Johnson Controls (US), United Technologies (US), Robert Bosch GmbH (Germany), HOCHIKI Corporation (Japan), Halma Plc (UK), Minimax Viking GmbH (Germany), and Gentex Corporation (US), among others.
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North America held the largest share of the fire protection systems market in 2016. Certain verticals such as oil & gas, mining, and energy & power have shown a positive outlook for the growth of the fire protection systems market.
This is a result of the necessity to adhere to the stringent corporate compliance and regulation requirements for these sectors.
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