Increasing Fire Safety Awareness & Strict Government Mandates Drives the Global Fire Alarm Equipment Market, According to New Report by Global Industry Analysts, Inc. - WDRB 41 Louisville News

Increasing Fire Safety Awareness & Strict Government Mandates Drives the Global Fire Alarm Equipment Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Fire Alarm Equipment markets. Global market for Fire Alarm Equipment is projected to exceed US$5.0 billion by 2020, driven by increase in non-residential construction activity, growing fire safety awareness, and strict government mandates related to fire safety equipment installation.

San Jose, California (PRWEB) July 08, 2014

Follow us on LinkedIn Increasing awareness over public safety as well as the growing need for businesses to overcome losses caused by theft, misappropriation of assets or even fire breakout at workplace are bolstering the need for security equipment globally. Fire alarm equipment market has been witnessing significant growth over the years, driven by growing incidents of fire breakouts across houses, offices and commercial buildings. Growth in the market is also being driven by stringent government safety norms that mandate installation of fire alarm equipment in buildings. The fire alarm market is driven by standard building codes, especially in developed markets with strong regulatory bodies. Growth in the market is largely tied to the health of the construction industry. Technology developments are poised to benefit the market in the coming years as consumer preferences increasingly shift towards state-of-the-art advanced equipment with faster response to fire hazards. Implementation of new rules and policies that mandate the use of sophisticated fire alarm equipment will additionally help drive replacement demand in the market.

Fire detection and alarm systems have evolved over the years from standalone systems to integrated managed systems that are a combination of fire detectors, suppressants and communication systems. Recent advancements in fire alarm technology have paved the way for enhanced and efficient fire alarm systems that are capable of offering optimum protection from firerelated incidents. Apart from reducing expenses, and enabling efficient management of fire hazards, new generation fire alarm equipment also come with unique features such as backward compatibility, voice alarm trump bells and multi-criteria detectors. Increasing preference for fire alarm systems incorporated with voice evacuation capabilities has led to development of fire systems that facilitate pre-recording of messages as per needs. Wireless fire alarm and detection systems have also been gaining prominence in key industrial and commercial markets. The rising popularity of smartphones has also led to the development of fire alarm equipment with GSM and IP capability for effective reporting of fire incidents.

As stated by the new market research report on Fire Alarm Equipment, Europe represents the largest market worldwide. Developing markets such as Asia-Pacific and Latin America are expected to spearhead global led by sharp rise in fire accidents as a result of lack of fire safety measures, rapid economic growth, increase in residential and commercial building construction, increase in foreign investments and rise in business activities, among others. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.6% over the analysis period. Fire alarm panels represents the largest market segment, while fire alarm devices are forecast to witness the highest growth over the analysis period.

Major players covered in the report include Bosch Security Systems Inc., Cooper Safety Inc., Fenwal Controls of Japan Ltd., Gentex Corporation, Hochiki Corporation, Honeywell Life Safety, The Nittan Group, Panasonic Eco-Solutions Nordic AB, Siemens Building Technologies Group, and Tyco International Ltd., among others.

The research report titled "Fire Alarm Equipment: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US dollars for all geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Middle East and Latin America. The report also analyzes the global and regional markets by product segments such as Fire Alarm Panels (Conventional Fire Alarm Panels, Addressable Fire Alarm Panels and Voice Evacuation Systems), and Fire Alarm Devices (Annunciators, Fire Alarm Notification Devices and Manual Pull Stations).

For more details about this comprehensive market research report, please visit
http://www.strategyr.com/Fire_Alarm_Equipment_Market_Report.asp.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA)is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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