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

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

  • Next-Gen AI for Smart Cities

    The future of smart city technology is not being shaped in Silicon Valley — it is taking root in Dubuque, Iowa. With a population of about 60,000, this mid-sized city has become a live testbed for AI-driven traffic management thanks to a unique public-private collaboration led by Milestone Systems. Project Hafnia demonstrates how cities can transform urban mobility and safety through Responsible Technology—without costly infrastructure overhauls. Read Now

  • The Progress of Biometrics

  • Bringing it Together

    Public safety communications have long been used to help first responders save lives and to help keep first responders safe, improve response time, and enhance interagency coordination. These communication solutions may include mobile (5G), radio telecommunication and mass notification systems. Read Now

  • Exploring the Future of Video

    AI innovation is rapidly transforming video security. Edge-based AI centered on object detection excels at detecting people and vehicles to alert to threats like brandished guns or perimeter breaches. However, the onus is on the user to gather more details to fully understand the situation. Read Now

  • Allegion, Comfort Technologies Implement Mobile Credentials at the Artisan Apartment Homes in Florida

    Artisan Apartment Homes, a luxury apartment complex in Dunedin, Florida, recently transitioned from mechanical keys to electronic locks and centralized system software with support from Allegion US, a leading provider of security solutions, technology and services, and Florida-based Comfort Technologies, which specializes in deploying multifamily access control, IoT devices and software management solutions. Read Now

New Products

  • 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.

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.