The growth of this market is attributed to the growth of the construction industry, strict regulations and the increasing adoption of wireless technology in fire detection. However, factors such as high upfront costs, concerns about false alarms and detection failures, and the high cost of upgrading traditional fire detectors to smart detectors are holding back the market growth.
New York, September 02, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Publication of the “Fire Protection Systems Market with COVID-19 Impact by Product, Service, Type, Vertical and Region – Global Forecast to 2026 “- https://www.reportlinker.com/p03816728/?utm_source=GNW
The fire analysis segment is expected to grow at the highest CAGR during the forecast period in the fire protection systems market.
A fire protection system can operate effectively if proper analysis of events is performed.
Fire analysis uses fire mapping and analysis software, as well as fire modeling and simulation software. The growth of this market can be attributed to the growing need for sophisticated fire analysis, which aids in proper decision making and fire prevention.
Maintenance services are expected to grow at the highest CAGR in the fire protection systems market during the forecast period. ”
Maintenance services include the maintenance and timely auditing of fire protection systems to ensure that fire protection systems meet all required fire safety standards and function properly in an emergency. Maintenance services include inspection, testing, servicing and repair of components, as well as monitoring of fire protection systems. and their components.
The services include the supply of equipment, testing and commissioning of the system, as well as regular preventive maintenance.
North America will be the largest market for fire protection systems during the forecast period.
North America is expected to dominate the global fire protection systems industry from 2021 to 2026. The United States and Canada dominate the North American fire protection systems market.
These countries have experienced significant infrastructural developments due to the high population growth rate, due to which the demand for fire protection systems is also increasing. Increased awareness of fire safety systems and fire safety regulations set by governments are among the important factors driving the market in North America.
The breakdown of the profiles of the main participants in the report is presented below:
• By type of business: level 1 = 40%, level 2 = 35% and level 3 = 25%
• By designation – Level C executives = 48%, Managers = 33% and Others = 19%
• By region – North America = 35%, Europe = 18%, APAC = 40% and RDM = 7%
The main players in the market are Johnson Controls (Ireland), Carrier Global Corporation (United States), Honeywell International, Inc. (United States), Siemens (Germany), Halma Plc (United Kingdom), Robert Bosch Gmbh (Germany ), Hochiki (Japan), Gentex Corporation (United States), Minimax Viking (Germany) and Securiton (Switzerland).
The global fire protection systems market is segmented into products, services, verticals, and geography.
On the basis of service, the fire protection systems industry has been divided into maintenance services, managed services, engineering services, installation and design services, and other services (rental upgrade and maintenance services). renovation). include trade, oil, gas and mining, manufacturing, transportation and logistics, energy and electricity, residential, government, others (telecommunications and IT, utilities, media and entertainment).
The fire protection systems market is segmented into four regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Reasons to buy the report:
• Illustrative segmentation, analysis, and forecast for markets on the basis of product, service, vertical, and region have been conducted to give an overview of the Fire Protection Systems market.
• Value chain and ecosystem analysis was carried out to provide an in-depth overview of the fire protection system.
• The major drivers, restraints, opportunities and challenges relating to the Fire Protection Systems market have been detailed in this report.
• The report includes a detailed competitive landscape along with key players, in-depth analysis and revenue of key players.
Read the full report: https://www.reportlinker.com/p03816728/?utm_source=GNW
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