Global Fire Safety Equipment Growth Opportunities

Global Fire Safety Equipment Growth Opportunities

Integration with Smart Building Solutions Supports the Digital Advancement of Fire Safety

Digital technologies have become inevitable in most industries, including fire safety equipment. Fire detection and suppression equipment are increasingly IoT-enabled and integrated with smart building systems using tools such as AI, machine learning (ML), and analytics. This necessitates the convergence and collaboration of fire safety with digital solutions providers, including building technology system integrators.

Fire safety equipment includes fire detection and fire suppression systems. These systems help prevent personal and material damage from fire. They are installed as part of buildings to detect combustion or any unwanted presence of fire byproducts, such as heat and smoke, alert building occupants in an emergency, and prevent the spread of fire in the event of a fire incident in a facility. The fire detection segment includes sensors that detect and alarms that warn against fire, while the fire suppression segment includes water-based, gas-based, and foam fire extinguishing systems. This study categorizes end users as commercial, industrial, government, education, and others. It excludes portable fire extinguishers of all types, fire hydrants, hose reels, hoses, piping systems, fire doors, fire curtains, personal protective equipment, emergency lighting, and all other ancillary fire safety equipment.

This study identifies 3 top growth opportunities: performance-based fire safety systems, integration of fire safety with smart buildings solutions, and digitalization improvement of fire safety systems. By 2029, fire safety equipment revenue is expected to exceed $11 billion. In terms of CAGR, Latin America is forecast to be the fastest-growing region, and revenue from the data center vertical is expanding the fastest among end users.