Study: Fire Protection System Sales to Reach $138 Billion by 2032

  • Mar 14, 2022

Fact.MR predicts the sales of the fire protection systems to exceed $138 billion by registering a positive CAGR of 6.3% in the forecast period 2022-2032. Increasing urbanization and changing designs of commercial infrastructure have given a rise to fire instances. Thus, to avoid the same, demand for fire protection systems has increased.

Historically, from 2015 to 2021, the global sales of fire protection systems surged at a CAGR of 6%, surpassing $70 billion by the end of the aforementioned period. The onset of the COVID-19 pandemic affected the supply and demand chain across the globe. As most of the commercial sectors were shut, the demand for fire protection systems dipped in the initial quarter of the pandemic. As most commercial sectors are fully functioning, the sales of fire protection systems are expected to upsurge.

Furthermore, governments across the globe have made it mandatory to install fire protection systems to safeguard human life and property. Owing to this, commercial sectors have installed the same on a large scale. In addition, instances of forests catching fires has increased over the past few years. Thus, government authorities are installing detection systems that help to alarm early in case of danger.

Key Takeaways from the Market Study By product, fire detection systems expected to gain more than 50% market share for fire protection system market.
By application, commercial sectors expected to hold more than 45% market share for fire protection system market.
Fire protection system industry expected to possess nearly 33% market share throughout North America.
Fire protection system industry expected to possess nearly 40% market share throughout Asia Pacific.

Competitive Landscape
Prominent fire protection system manufacturers are reliant on a plethora of expansion strategies aimed at enhancing their global footprint. Acquisitions, mergers, collaborations and new product launches are some of these approaches. Some notable developments are as follows:

In November 2021, Robert Bosch GmbH acquired Protec Fire and security group. The company is focusing on strengthening its presence in the European region.

Likewise, that same month, Johnson Controls launched the Smart Fire Sprinkler Monitoring solution. This solution offered 24/7 monitoring capabilities via cloud, supported operational downtime, reduced building damage, and prevented system failure.

Furthermore, in October 2020, Honeywell launched a new cloud platform for fire safety systems. This platform enabled technicians to minimize the disruption, aid in compliance, and reduced the time required to design, install, commission, and maintain the safety of systems.

Featured

  • Integration Imagination: The Future of Connected Operations

    Security teams that collaborate cross-functionally and apply imagination and creativity to envision and design their ideal integrated ecosystem will have the biggest upside to corporate security and operational benefits. Read Now

  • Smarter Access Starts with Flexibility

    Today’s workplaces are undergoing a rapid evolution, driven by hybrid work models, emerging smart technologies, and flexible work schedules. To keep pace with growing workplace demands, buildings are becoming more dynamic – capable of adapting to how people move, work, and interact in real-time. Read Now

  • Trends Keeping an Eye on Business Decisions

    Today, AI continues to transform the way data is used to make important business decisions. AI and the cloud together are redefining how video surveillance systems are being used to simulate human intelligence by combining data analysis, prediction, and process automation with minimal human intervention. Many organizations are upgrading their surveillance systems to reap the benefits of technologies like AI and cloud applications. Read Now

  • The Future is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reason. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. But as the number of cameras grows and resolutions push from HD to 4K and beyond, the cloud’s limits are becoming unavoidable. Bandwidth bottlenecks. Latency lags. Rising storage costs. These are not abstract concerns. Read Now

  • Right-Wing Activist Charlie Kirk Dies After Utah Valley University Shooting

    Charlie Kirk, a popular conservative activist and founder of Turning Point USA, died Wednesday after being shot during an on-campus event at Utah Valley University in Orem, Utah Read Now

Most   Popular

New Products

  • PE80 Series

    PE80 Series by SARGENT / ED4000/PED5000 Series by Corbin Russwin

    ASSA ABLOY, a global leader in access solutions, has announced the launch of two next generation exit devices from long-standing leaders in the premium exit device market: the PE80 Series by SARGENT and the PED4000/PED5000 Series by Corbin Russwin. These new exit devices boast industry-first features that are specifically designed to provide enhanced safety, security and convenience, setting new standards for exit solutions. The SARGENT PE80 and Corbin Russwin PED4000/PED5000 Series exit devices are engineered to meet the ever-evolving needs of modern buildings. Featuring the high strength, security and durability that ASSA ABLOY is known for, the new exit devices deliver several innovative, industry-first features in addition to elegant design finishes for every opening.

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.”

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings.