Wireless Fire Detection Systems Market size is anticipated to exceed USD 4 billion by 2032, according to the latest research report by Global Market Insights Inc.
The rising number of fire incidents in residential and commercial buildings is the primary industry growth driver. These systems incorporate innovative and economical solutions with minimal damage to the surroundings, which is fueling product adoption globally. Notably, the market is set to witness sizable expansion owing to massive investments and initiatives for smart city development projects with government support.
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Growing penetration of IoT technology in sensor industry
The sensor segment in wireless fire detection systems market is expected to account for USD 3 billion in revenue by 2032. The progress is driven by the prevalent IoT integration with building automation and fire detection systems, which has bolstered the utilization of IoT-enabled sensors. IoT sensors are being used increasingly as they enable alarm systems to deliver notifications to devices like smartwatches and smartphones.
Lowering component prices to increase gas detector production
The gas detector product type held around 10% revenue share of the global market in 2022. The declining cost of electronic components that are used to make these gadgets is likely to complement sector growth in the coming years. Heating coils and gas sensing layers are some of the high-quality technical components needed for gas detectors. Furthermore, product uptake is impelled by the increasing number of domestic suppliers of these components.
Low installation costs to foster the need of fully wireless fire alarm systems
The fully wireless model in wireless fire detection systems market is poised to foresee steady progress through 2032. These alarm systems offer several benefits, including high effectiveness, minimal maintenance costs, and adaptability. They are typically installed in offices, retail spaces, and factories. Moreover, such systems communicate wirelessly with cellular technology, enabling users to facilitate system functionality on their mobile devices.
Minimum wiring alteration feature to spur demand for retrofit fire detection system
The retrofit wireless fire detection systems market captured 40% industry share in 2022. Growing preference for this type of fire detection systems on account of their numerous benefits, including low-cost and quick installation is supplementing segment progress. Such installation causes minimal alterations to the existing wiring, which is projected to fuel the requirement of retrofit wireless fire detectors.
Surging incidences of house fires to boost product usage in residential applications
The residential application sector seized nearly 20% stake in the wireless fire detection systems industry in 2022 and is set to observe strong growth from 2023 to 2032. One of the leading causes of house fires worldwide is unmanned cooking appliances. The escalating occurrences of residential fire accidents have propelled the need for effective fire detection systems in residential settings, which will further augment market revenues.
Browse key industry insights spread across 370 pages with 788 market data tables and 31 figures & charts from the report “Wireless Fire Detection Systems Market Size By Component (Sensor, Call Point, Fire Alarm Panel, Input/Output Module), By Product (Smoke Detector [Photoelectric, Ionization, Dual Sensor], Heat Detector, Gas Detector, Multi-sensor Detector), By Model (Fully Wireless, Hybrid), By Installation (New Installation, Retrofit), By Application (Residential, Industrial, Commercial [BFSI, Education, Government, Healthcare, Hospitality, Retail]), COVID19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
Widespread adoption of 5G and IoT devices in North America
The North America wireless fire detection systems market was valued at over USD 700 million in 2022 and is slated to witness remarkable development between 2022 and 2032 supplemented by the widespread espousal of 5G and IoT devices. Massive demand for wireless fire detection systems due to the penetration of smart home gadgets and IoT-connected solutions is set to increase the regional share.
Product advancements to garner business outlook
The wireless fire detection systems industry players consist of Johnson Controls, Honeywell International Inc., Carrier, Siemens AG, Robert Bosch GmbH, Halma Plc, HOCHIKI Corporation, Napco Security Technologies, EuroFyre ltd, EMS Security Group ltd., and other firms. These companies are addressing consumer demands with superior product offerings to gain a competitive edge in the market scenario.