9% growth for Wireless Fire Detection System Market by 2024, global revenue to reach $500mn


Sep 11, 2019 (AmericaNewsHour) — As per the report by Global Market Insights, Inc., “Worldwide Wireless Fire Detection System Market was valued USD 300 million in 2017 and will surpass a revenue collection of USD 500 million by 2024 with an annual growth rate of 9% over 2018 to 2024.”

Advancements in networking infrastructure and penetration of IoT devices across the globe are propelling the wireless fire detection system market demand. Additionally, government regulations for fire safety have led to several industry verticals, such as commercial building and manufacturing sector, to adopt these advanced technologies so as to minimize the financial, infrastructural, and human losses.

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Increasing demand for safety & security has given rise to technological advancements such as video surveillance and intrusion detection. Manufacturers have started integrating multiple devices and technologies, which are contributing to the growing adoption of these devices. Additionally, these devices are inexpensive and provide enhanced aesthetics, flexibility, and lesser interruption during installation as there are no cable and drills requirements. Ease and convenience of installation will bode well for the wireless fire detection system market.

Wireless fire detection system market is characterized by the presence of heat, smoke, gas, and multi-sensor types. The demand for multi-sensor detectors will grow due to their capability to detect both smoke and heat. These devices are easy to install in a minimum time as compared to wired devices. In mining facilities and disaster evacuation, false alerts can stop the operations for long durations, causing inconvenience for hours and incurring financial losses. Multi-sensor detectors are widely used in these applications as they provide a high level of reliability, decreasing inconvenience and financial losses.

In the wireless fire detection system market, the hybrid technology offers better security and efficiency to the devices, making it popular amongst customers. Fully wireless technology will witness an increasing adoption due to their benefits over wired technology such as the elimination of cables in various devices, the significant reduction in labor cost, and the adoption of wireless over wired technology in every sector, fueling wireless fire detection system industry.

Customers in developed and developing economies are becoming aware of the technology and are ready to spend more for safety purposes. Rising disposable income of people has also encouraged people to adopt smart homes. The growing trends of connected devices in smart homes play a vital role in driving the wireless fire detection system market. As the products required for the technology must be highly ruggedized to protect the internal components, manufacturers, such as CISCO, are working on building them to complement the smart home infrastructure.

Browse key industry insights spread across 360 pages with 665 market data tables & 32 figures & charts from the report, “Wireless Fire Detection System Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/wireless-fire-detection-system-market

Stringent government regulations regarding safety and a high degree of technology adoption have made China a dominant player in the wireless fire detection system market. China has a modern economy, which runs on reliable electricity, telecommunication, and roads & rails. Infrastructure development remains the top priority for the government of China as the government has spent huge funds on infrastructure for the economic growth.

Some of the vendors in the market are Siemens AG, EuroFyre Ltd., Honeywell International, Tyco International, PLC, Robert Bosch GmbH, Electro Detectors Ltd, EMS Wireless Fire and Security Ltd., Sterling Safety Systems, and Halma PLC, amongst others.

Glimpse of Table of Content (ToC)

Chapter 3.   Wireless Fire Detection System Market Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 – 2024

3.2.1. Fire protection industry landscape, 2013 – 2024       Fire detection       Fire suppression       Fire analysis       Fire response

3.3.  Industry ecosystem analysis

3.3.1. Raw material suppliers

3.3.2. Product/system manufacturers

3.3.3. Sales channel       Distributors       Electrical contractors/specialist fire system installers       System integrators       Value added resellers (VARs)

3.3.4. Vendor matrix

3.4.  Technology landscape

3.4.1. Technology architecture

3.4.2. Key technologies       Mesh technology       Frequency Hopping Spread Spectrum (FHSS)       Internet of Things (IoT)       Big Data       Analytics

3.5.  Price trend analysis, 2013 – 2024

3.5.1. Product       Smoke detector       Heat detector       Gas detector       Multi-sensor detector

3.5.2. Regional       North America       Europe       Asia Pacific       Latin America       Middle East and Africa

3.5.3. Application       Residential       Industrial       Commercial

3.6.  Regulatory landscape

3.6.1. NFPA 72 – Chapter 23

3.6.2. EN54 Part 25

3.6.3. ETSI 300:220

3.6.4. Others

3.7.  Industry impact forces

3.7.1. Growth drivers       Rising demand across residential applications in the U.S.       Stringent government regulations & standards in Western Europe       Economic expansion in Southeast Asia       Propagation of integrated IoT solutions in Brazil       Rise in commercial construction across the Middle East

3.7.2. Industry pitfalls and challenges       High cost of devices       Low reliability perception

3.8.  Growth potential analysis

3.8.1. Wireless fire detection system market, by application

3.8.2. Commercial wireless fire detection system market, by type

3.9.  Porter’s analysis

3.9.1. Threat of new entrants

3.9.2. Buyer’s power

3.9.3. Threat of substitutes

3.9.4. Threat of suppliers

3.9.5. Industry rivalry

3.10.      Company market share analysis, 2017

3.11.      PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/wireless-fire-detection-system-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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2019-09-10 22:55:00

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