Press Release / Technology / Fire Protection Systems Market: Dynamics, Segments, Size and Demand, 2018-2023

Fire Protection Systems Market: Dynamics, Segments, Size and Demand, 2018-2023

Market Highlights:

In this rapidly changing world of technology, fire protection systems market is projected to show major growth prospects during the forecast period. A major factor driving the fire protection systems market is the increasing demand for implementing stringent measures to reduce the loses from fire accidents. Increasing demand for fire protection systems across various industry verticals is another major factor responsible for fueling the growth of fire protection systems market.

The global fire protection systems market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the fire protection systems market in North America is expected to witness significant growth and hold the largest market share during the forecast period. The U.S and Canada are anticipated to drive the growth of fire protection systems market. This is owing to the presence of large number of established key players like Honeywell International Inc., Johnson Controls, United Technologies and Gentex Corporation in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. Increasing need for innovations in equipment and networking is another major factor responsible for driving the growth of fire protection systems market.

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Major Key Players

Honeywell International Inc. (U.S.),

Siemens AG (Germany),

Tyco International PLC (Ireland),

Johnson Controls International Plc. (U.S.),

United Technologies Corporation (U.S.),

Robert Bosch GmbH (Germany),

Hochiki Corporation (Japan),

Halma PLC (UK),

Minimax Viking GmbH (Germany), and Gentex Corporation (U.S.)

The global Fire Protection Systems Market is expected to grow at approximately USD 95 Billion by 2023, at 8% of CAGR between 2017 and 2023.

Regional Analysis:

The regional analysis of fire protection systems market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Europe is projected to grow at the fastest rate during the forecast period. The major growth in fire protection systems market in North America is attributed to technological advancements and increasing adoption of fire protection systems across various industry verticals in that region.

Market Segmentation:

Fire protection systems market has been segmented on the basis of type, product, service and vertical. The product segment is further bifurcated into fire detection, fire suppression, fire analysis and, fire response. Out of which, the fire suppression segment is expected to hold the largest market share of the fire protection systems market. This is owing to the extensive use of fire extinguishers and fire sprinklers across various industry verticals. The fire suppression sub segment is further bifurcated into fire sprinklers and fire extinguishers. Whereas, the fire analysis software sub segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing demand for sophisticated fire analysis which further helps in proper decision making and fire prevention.

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Intended Audience

Technology Investors
Research/Consultancy firms
Technology Solution Providers
Government Bodies
Fire Protection Systems Component Providers
Fire Protection Systems Service Providers
Fire Protection Systems Product Manufacturers
Fire Protection Systems Original Equipment Manufacturers (OEMs)
Managed Service Providers
Third-Party System Integrators
Distributors and Traders