The Fire Alarm Market is expected to witness considerable growth owing to rise in security issues and accidents. Stringent government regulations for citizen and worker safety are also expected to fuel market demand over the forecast period. In addition, initiatives such as National Fire Protection Association have mandated the use of smoke and fire detecting equipment across several facilities, which is also expected to drive the fire alarm market growth over the forecast period. The fire alarm market mainly consists of services and products, including fire management, fire analysis, fire response, and fire detection. Technological advancements and development of intelligent fire alarm systems provide avenues for market growth. These systems offer several benefits such as rapid fire detection, location identification, and easy maintenance, and is expected to favorably impact the fire alarm market growth over the forecast period.
Advancements in fire alarm technology protect occupants and property, while reducing expenses, helping building management monitor and maintain their systems. Furthermore, addition of speaker in existing fire alarm systems to support voice evacuation also provides opportunities for market growth. Traditional fire alarm systems used telephone lines to communicate maintenance alerts, system status, and emergency alarms to central monitoring stations, making them expensive. However, systems can now report alerts to the central station over the existing IP network in a facility, which is expected to spur the fire alarm market demand over the forecast period. In addition, cellular GSM networks are also used widely as an alternative to phone-line for communication.
Upgrades to the new technology provide several benefits in terms of improved detection, response time, and cost and maintenance. However, lack of integrity across system interfaces and huge installation costs may hamper the market growth over the forecast period.
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