Reports - Fire Alarm Equipment (FAS) Market
Fire Alarm Equipment (FAS) Market Size, Share & Trends Analysis Report by Product (Annunciators, Notification Devices, Manual Pull Stations) by Technology (Wireless Systems, Wired Systems) by Application (Residential, Commercial, Industrial) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)
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2035
8.50%
North America
Asia Pacific
2019 - 2023
2023 - 2035
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The global Fire Alarm Equipment (FAS) Market is valued at USD 46.3 Billion in 2023 and is projected to reach a value of USD 113.5 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 8.50% between 2024 and 2032.
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The Asia Pacific Fire Alarm Equipment (FAS) market exhibited significant dominance, with 42.5% of the market share in 2023. This is due to rapid urbanization, industrialization, and a growing middle-class population. The demand for FAS in this region is fueled by the need for enhanced safety measures in urban and industrial areas. In addition, the increasing awareness of fire safety and the adoption of technologies like IoT, AI, and ML are significant drivers of market growth.
The Fire Alarm Equipment (FAS) market in the United States, valued at USD XX Billion in 2023, is projected to reach around USD XX Billion by 2032. This forecast indicates a substantial Compound Annual Growth Rate (CAGR) of XX% from 2024 to 2032.
The global Fire Alarm Equipment (FAS) market can be categorized as Product, Technology, Application, and Region.
In 2023, the Annunciators segment held the largest global market share, with 36.2% revenue. Based on the Product, the Fire Alarm Equipment (FAS) market is categorized into Annunciators, Notification Devices, and Manual Pull Stations. Annunciators are dominant in the Fire Alarm Equipment (FAS) market because they play a major role in communicating vital information about the state of fire alarm systems, such as their location, type, and severity. These components make it possible to respond rapidly and effectively to fires by providing vital information. Different types of annunciators are available, including optical variants that use lights, audible ones that utilize sound, and digital ones that employ digital displays.
The Wireless Systems segment dominated the market with 56.5% of market share in 2023. Based on the Technology, the Fire Alarm Equipment (FAS) market is categorized into Wireless Systems and Wired Systems. The Fire Alarm Equipment (FAS) market is dominated by wireless systems because of the ease of installation and maintenance, eliminating the need for inconvenient cables and resulting in time and cost savings, especially in large and complex facilities. Additionally, its inherent flexibility allows for easy expansion or relocation, accommodating businesses that undergo constant growth or change. The scalability of wireless FAS also caters to the evolving requirements of businesses of all sizes. As the technology continues to expand and mature, wireless FAS is becoming increasingly cost-effective.
In 2023, the Residential segment accounted for the largest market share with 42.1% of market revenue. The application segment is divided into Residential, Industrial Manufacturing, and Others. The residential segment held the largest market share in the Fire Alarm Equipment (FAS) market due to the rising urbanization and growing middle-class population in developing countries. The necessity for enhanced safety measures drives the demand for FAS in homes. Additionally, the growing fire safety awareness plays a significant role in the markets growth. As households become more aware of the importance of advanced safety solutions, the Fire Alarm Equipment market is experiencing a surge, focusing on deploying these systems in residential settings.
The increasing focus on safety and regulation adherence across various sectors drives the Fire Alarm Equipment (FAS) market. The awareness of the crucial role of fire alarm systems in protecting lives and property has led to a higher demand for advanced FAS solutions. Strict safety standards and regulations at regional and global levels drive the adoption of technologically advanced fire alarm equipment to ensure prompt and accurate responses to potential fire incidents. Furthermore, urbanization, industrial expansion, and the growing middle-class population influence the global market expansion, as these trends increase the need for solid fire safety measures in commercial, residential, and industrial settings.
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The advancement of technology has emerged as a key catalyst for significant transformation. With innovations like the Internet of Things, smart devices, sensors, and cloud computing, the dynamic between fire alarm systems and consumers is evolving under entirely new circumstances. Modern buildings offer numerous opportunities to fulfill safety standards, optimize processes, and introduce automation. Rather than operating independently, security systems are now integrated into comprehensive systems and managed through a unified user interface.
Securiton Company safeguards a private hospital in Hungary. The Duna Medical Center places its trust in the top-notch fire protection services provided by the Securitas Group. Following a five-year renovation and expansion, the center reopened in spring 2021. A comprehensive fire detection & alarm system from Securiton has been implemented to ensure uninterrupted operations. The entire facility is shielded by a fully interconnected SecuriFire fire alarm system installed by Securitons Hungarian subsidiary, Securiton Kft. The building incorporates 2700 SecuriStar multi-criteria detectors, managed by multiple SecuriFire 3000 control panels. The lobby is under the watchful eye of several SecuriSmoke ASD 535 aspirating smoke detectors positioned above the suspended ceiling. At the same time, the electrical shafts feature highly sensitive SecuriSmoke ASD 531 aspirating smoke detectors.
The global Fire Alarm Equipment (FAS) market is fragmented, including a diverse array of the presence of many many key players that continue to command significant market shares. Compliance with safety standards and regulations is also crucial to competition, as companies aim to provide reliable and compliant fire alarm solutions. For instance, in July 2022, for the Panasonic EBL512 G3 fire alarm system, Panasonic introduced the addition of OPC UA functionality to the Gateway 5088. This enables their Gateway 5088 to operate as an OPC UA server. OPC UA, specially designed for industrial automation, is a freely available and multiplatform Standard Communication Protocol in Continuous Development. With its flexibility, this standard has been widely adopted worldwide under the Industry 4.0 initiative and has been used in several sectors.
· In December 2023: Through introducing new applications and application programming interfaces, Siemens Smart Infrastructure will enhance its Fire Safety Services in Building X. This expansion aims at increasing transparency, reducing response times during incidents, and improving maintenance procedures for service providers.
· In July 2023: The latest service platform from Schrack Seconet offers precisely the convenience needed. It offers six sets of functions to improve installation and maintenance services. The platform includes a wide range of services, such as product knowledge management, site management, site analysis, extension and modernisation, maintenance, and site events management.
· In June 2022: Siemens expands its Cerberus PRO fire safety offering to include updated FC720 control panels, an OOH740 sensor equipped for disturbance free testing and the Cerberus Connect mobile app which complements existing cloud applications. This will result in resource optimisation, simplified planning and maintenance, and a greater degree of convenience for system integrators, service providers and customers during the operation.
Source: www.vantagemarketresearch.com
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Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis | |
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