Wireless Fire Detection Systems Market size is set to surpass USD 2 billion by 2028, according to a new research report by Global Market Insights Inc.
The global wireless fire detection market growth is propelled by the increasing demand from retrofit installations owing to the time and cost-effectiveness of wireless installations. The improvements and upgrades of the existing government regulations regarding fire safety & security systems have also favorably impacted the market expansion over the past few years.
Several benefits of the wireless fire detection systems, such as avoidance of asbestos, elimination of cabling, and quick installations, make them ideal for listed type buildings. The increasing awareness related to the enhanced accuracy of detecting fire incidents through wireless systems is encouraging several building contractors to install them in residential buildings.
One of the major market factors challenging the industry growth is the high initial cost of wireless fire detection systems. The total hardware cost of wireless fire detection systems is higher than that of wired solutions due to the sophisticated nature of the components being used in wireless systems. The input cost of RF technology also adds to the total cost of production of these systems. On the other hand, wired systems are easy to manufacture and cost less attributed to their basic functionality.
The COVID-19 pandemic severely impacted the wireless fire detection systems market credited to the impact of the pandemic on the electronics industry. The government-imposed lockdown severely disrupted the supply chain and impacted the manufacturing capabilities of electronic component providers during the first six months of 2020. The shortage of labor owing to restrictions on movement hampered the manufacturing of sensors and detection systems. Consumers were also heavily inclined toward postponing purchase decisions of technologically advanced and high-cost electronic systems due financial constraints and loss of employment opportunities.
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Proliferation of fire alarm panels in wireless fire detection systems
The fire alarm panel segment in the wireless fire detection systems market valued at USD 400 million in 2021. Wired fire alarm panels are mostly offered in the non-addressable type or zoned system, which are considered to be a low-cost solution for fire detection applications. In a wireless connection, addressable fire alarm panels are the most suited systems. Their high industry value can be attributed to their advanced technology and high degree of programming flexibility. Benefits of wireless fire alarm panels, such as the affordability of addressable systems, coupled with their technical superiority are expected to drive the industry expansion during the forecast period.
Browse key industry insights spread across 330 pages with 648 market data tables & 20 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 Type (New Installation, Retrofit), By Application (Residential, Industrial, Commercial [BFSI, Education, Government, Healthcare, Hospitality, Retail]), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022-2028” in detail along with the table of contents:
Increasing adoption of wireless smoke detectors will improve the market progression
The smoke detector segment is projected to witness more than 6% growth rate through 2028. The ability of wireless smoke detectors to identify the presence of smoke and transmit such information wirelessly to the fire alarm panels is supporting the growth of this product. The growing trends of smart homes and system integration through connected devices have boosted the demand for wireless smoke detectors that alert users about the fire incidents remotely over the internet.
Growing market opportunities in commercial applications
Wireless fire detection systems market for commercial application segment is anticipated to expand at more than 8% CAGR till 2028. Several application sectors are increasingly utilizing the wireless fire detection systems due to the tightened fire security & management practices in several countries including North America and Europe.
Stringent EU fire safety regulations along with rising investments in smart city projects in European countries
Europe wireless fire detection systems market held 30% of the market share in 2021. Stringent EU regulations on providing enhanced safety & security to the citizens across the EU nations are contributing to the industry demand for wireless fire detection systems. The positive market statistics is credited to favorable infrastructure remodeling trends and rising investments in smart city projects, which are poised to augment the demand for wireless fire detection systems.
Key players in the wireless fire detection systems market include Electro Detectors Ltd., Siemens AG, Detectomat GmbH, Sterling Safety Systems, Robert Bosch GmbH, Halma PLC, Johnson Controls, HOCHIKI Corporation, EuroFyre Ltd., EMS Wireless Fire and Security Ltd., and Honeywell International, Inc. Industry leaders are emphasizing on product launches, merger & acquisition strategies to increase their market revenue and widen their customer base.