Fire Protection Systems Market Regional Demand and Future Trends Analysis Report To 2027

The fire protection system market is expected to be driven by rising demand for wireless fire protection systems across commercial and residential spaces. Technologies like AI and IoT are being utilized in wireless system that send real-time alerts to smartphones and smartwatches, thus offering the possibility to take prompt measures or triggering fire protection systems, thereby lowering the damage caused to assets. New guidelines and regulations imposed by governments for building smart city homes could accelerate the installation of fire protection systems in the forthcoming years. The fire protection systems market size is expected to be over USD 70 billion by 2027.

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Rising concerns of fire outbreaks and safety of individuals across industrial, commercial, and residential settings may intensify the adoption of these systems. Fire protection systems demand is majorly given to the rising number of fire outbreaks. For instance, NCHA (National Cultural Heritage Administration) reported that around six fire accidents were witnessed across heritage buildings and locations in the year 2019. For avoiding such issues in the future, the Chinese government has undergone installing fire protection systems as prevention measures which are expected to positively impact the industry growth.

Major players operating in the fire protection systems industry include Robert Bosch GmbH, Honeywell International Inc., Halma PLC, Johnson Controls International PLC, Schrack Seconet AG, Hochiki Corporation, Fire Suppression Limited, Napco Security Technologies, Schneider Electric, Siemens AG, and Viking Group Inc. Key players are constantly focusing on taking strategic initiatives like new product innovations, partnerships, acquisitions, and mergers, etc. to stay competitive in the market. For instance, in June 2018, Johnson Controls launched a fire protection system in the Middle East.

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Meanwhile, the APAC market for fire protection systems is expected to witness lucrative growth during the estimated timeframe. There has been a noticeable increase in industrialization and urbanization in the region. Countries like India, Japan, and China are executing several guidelines and building codes for the fire safety of edifices. Rising emphasis of abstaining the outcome of fire outbreaks may have a positive impact on the APAC fire protection systems industry.

On the flip side, the COVID-19 pandemic has affected the sales of fire protection systems globally. Stern lockdowns imposed by governments worldwide have resulted in gradual decline in the sales as well as market revenue. During the initial quarters of 2020, many manufacturers suspended the production of fire protection systems and components. However, the market is gradually stabilizing and is expected to witness reviving growth and demand in due course.

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