Fire protection systems (or FPS), are equipment that mitigate the unwanted impact of potentially cataclysmic fires. Often referred as active fire protection, these systems help in the manual and automatic detection as well as suppression of fires. The most popular fire protection equipment includes the fire alarm, sprinkler system and others. Rapid growth in fire incidents has resulted in causalities and loss of property. Therefore, to curb such causalities and loss of assets from fire outbreaks, the demand for cutting edge protection systems has surged in recent years. This rising need for fire protection equipment is accompanies by the increasing adoption rate of technology advancements used for sensing, detecting, monitoring etc. during fire outbreaks.
The market research takes a closer look at the major market drivers, restraints and opportunities of the market. Several factors such as increasing spending capacity of the enterprises for fire protection, amendments in government policies and growing political pressure indicate the future of fire protection systems is bright. Enterprises in North America today focusing more and more on protecting infrastructure and lowering losses due to fire outbreaks. Systems including fire sensors as well as detectors are implemented to guarantee maximum fire protection within company premises. Increase in the SME and large enterprise count has further resulted in the expansion of the fire protection system industry. Spending capacity on these systems is greater in the region, followed by countries in Europe and Asia Pacific. Geometry and design limitations of these system are some of the known factors hindering market growth. FPS market today observes greater opportunities in different products and sectors with some most being fast developing application industries including mining, oil and gas etc. Furthermore, newer application being constantly designed for passive technologywould further propel the industry in coming four to five months.
In the study, the market is segmented in terms of industry vertical, geography, type, company and competitive landscape. In terms of industry vertical, the demand side analysis of sectors including BFSI, Banking, Retail, Government and others.By type the fire protection systems market is segmented into radio frequency identification (also popular as RFID), sensors and detectors etc. Besides this the market by components consists of fire mapping as well as analysis software, stimulation software and others. The market by geography consists of Western Region, Great Plains, Canadian Shield and more. The market by types is segmented into installation and design, engineering services, managed services and more.
Brands today are focusing on revamping and modernization of fire protection systems as a major safety element. New technology developments are further curbing the concerns overs through inspection, maintenance and testing of the systems. Brands are also seen serving the demands of centralized fire protection system, by several manufacturers. On the other hand, business strategies such as collaboration, acquisition and mergers and market expansion have contributed to the rapid growth of the fire protection system market.
Some of the major market players evaluated during the study includes Johnson Controls,VT MAK,United Technologies Corporation,Hochiki Corporation,Tyco,Honeywell International Inc.,Siemens AG, Gentex Corporation Halma PLC and Robert Bosch GmbH.
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