Selbyville, Delaware, Nov. 10, 2022 (GLOBE NEWSWIRE) --
Wireless Fire Detection Systems Market is expected to cross a valuation of USD 4 billion by 2032, according to the latest research report by Global Market Insights Inc.
The growing awareness pertaining to the design and application of cutting-edge technologies along with strict government rules about fire safety will drive industry growth. Public infrastructures, including offices, transportation facilities, museums, recreation centers, utilities, and so on, worldwide are increasingly utilizing such systems to support fire safety & prevention initiatives by governments. Additionally, stringent regulatory guidelines and safety norms for installing smoke and heat detectors inside buildings, houses, and business complexes are also foreseen to support business statistics.
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Effective two-way communication to amplify call point components demand
The wireless fire detection systems market from the call points component segment is projected to exhibit around 5% CAGR through 2032. A wireless call point is easy to install and inexpensive to operate and ensures two-way contact with the system. Due to its soaring significance in initiating a prompt response from fire detection systems, the call points component type is likely to observe robust expansion.
Extensive deployment to boost heat detector industry progress
The heat detector product segment is speculated to surpass USD 1 billion in revenue by 2032. The growing requirement for wireless fire detectors in household settings, including kitchens, laundry rooms, garages, and other locations, where the installation of smoke detectors has expanded the market for heat detectors. The ease of installation is the most appealing feature to most system installers and owners and is set to contribute considerably to the rising demand for these detectors.
Suitability for permanent fixtures to foster fully wireless fire detectors adoption
The fully wireless fire detection systems market held more than 50% share in 2022 and is poised to record significant growth through 2032. The widespread availability of fully wireless model, including temporary systems created for settings like construction sites or systems that offer such solutions for permanent fixtures, will supplement segment growth over the review timeframe.
High efficacy and affordability to spur retrofit installations type
The demand for retrofit devices is forecasted to grow substantially through 2032. Manufacturers of fire detection systems are offering cost-efficient and highly effective devices and products to transform buildings into cutting-edge, secure structures in order to ease concerns about safety and security, which is anticipated to have a positive impact on the retrofit wireless fire detection systems industry.
Increasing incidences of hospital fires to fuel healthcare sector
The wireless fire detection systems market from the healthcare commercial application will attain 10% gains from 2023 to 2032. A surge in hospital fires has been reported over the last few years, raising safety concerns in these structures. The healthcare industry offers promising growth prospects for product penetration owing to the extensive deployment of sensitive wireless fire detection systems in healthcare centers and hospitals to protect patients in case of fires.
Favorable regulatory landscape to drive the LATAM industry growth
The Latin America wireless fire detection systems industry is estimated to generate over USD 100 million in revenue by 2032. The market progress is driven by the growing usage of IoT and automation in the region. To promote private investment, the Brazilian government has developed investment policies. Furthermore, a supportive regulatory backdrop, together with favorable trade policies, is estimated to increase the manufacturing and processing capacities, spur business outlook.
Strategic partnerships to define the competitive overview
Top wireless fire detection systems market corporations are Johnson Controls, Honeywell International Inc., Carrier, Siemens AG, Robert Bosch GmbH, Halma Plc, HOCHIKI Corporation, Argus, and others. These firms are working on undertaking lucrative partnerships to gain a competitive edge in the sector.
In October 2022, fire detection and fire protection systems supplier Argus, IT services provider Ramtech, and Hyfire, a company that designs wireless fire systems, announced a collaborative partnership, "the Orama Group", to broaden their reach and promote innovations to address the demand for wireless security and safety across varied industries.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Wireless fire detection system industry 3600 snapshots, 2018-2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Component trends
2.5 Product trends
2.6 Model trends
2.7 Installation type trends
2.8 Application trends
Chapter 3 Wireless Fire Detection System Industry Insights
3.1 Introduction
3.2 Industry landscape, 2018-2032
3.3 COVID-19 impact
3.4 Russia-Ukraine war impact
3.5 Wireless fire detection system industry ecosystem analysis
3.6 Technology & innovation landscape
3.7 Price trend analysis, 2018-2032
3.8 Patent landscape
3.9 Key initiative & news
3.10 Regulatory landscape
3.11 Industry impact forces
3.11.1 Growth drivers
3.11.1.1 Rising adoption of fire detection system in commercial & residential sector in North America
3.11.1.2 Stringent government regulations regarding fire safety in Europe
3.11.1.3 Increasing fire safety awareness and positive economic indicators in Asia Pacific region
3.11.1.4 Rapid adoption of integrated IoT solutions in Latin America
3.11.1.5 Continuous investments in infrastructure projects in MEA
3.11.2 Industry pitfalls & challenges
3.11.2.1 High initial investment in wireless fire detection system
3.11.2.2 Limited consumer trust and concern about product reliability
3.12 Investment portfolio
3.13 Growth potential analysis
3.14 Porter’s analysis
3.15 PESTEL analysis
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About Global Market Insights Inc.
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.
