Global Fire and Life Safety Solutions Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Fire and Life Safety Solutions Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Fire and Life Safety Solutions is a comprehensive solution that seeks to detect, manage, monitor, and respond in case of emergency through the integration of fire protection systems with physical security access control components. Fire and life safety solutions include fire detection and fire management, which can be used in the enterprise, facility, campus and so on.

Market Overview:

The latest research study on the global Fire and Life Safety Solutions market finds that the global Fire and Life Safety Solutions market reached a value of USD 29792.56 million in 2022. It’s expected that the market will achieve USD 39985.0 million by 2028, exhibiting a CAGR of 5.03% during the forecast period.

Influence of COVID-19 Outbreak on Fire and Life Safety Solutions Industry Development

In 2020, the outbreak of the COVID-19 pandemic negatively impacted the market. Furthermore, owing to the rise in the number of COVID-19 cases due to the second wave of the outbreak, a partial lockdown in several countries was observed. This resulted in a further reduction in the production of new fire and life safety solutions. The market was also negatively impacted by the supply chain disruption across countries and regions. However, post the pandemic, the fire protection market is expected to witness growth. The growing urban population and the need to safeguard life and the environment from fire emergencies are expected to boost the demand for fire and life safety solutions.

Increasing demand

The growth of the industry can be attributed to factors such as an increasing number of fires across the globe due to increased usage of flammable materials for cooking, heating, or lighting purposes; growing demand for security solutions in public places owing to terrorism threats; smart city initiatives that require integration with fire detection systems; and growing awareness about hazards caused by fire among consumers worldwide. Fire and life safety solution is the only solution that can be used to mitigate fire disasters by sensing, controlling & extinguishing fires before they cause substantial property damage. Fire and Life Safety Solutions are being increasingly adopted to protect people against emergencies such as terrorist attacks causing harm to people present inside the premises during an emergency; or even due to natural disaster.

High costs of installation and maintenance of Fire and Life Safety Solutions

High initial investments are required for the implementation of Fire and Life Safety Solutions. This is due to the complexity of networks and the need to develop sophisticated tools to counter a fire situation. Due to this, vendors need to upgrade their solutions and develop new technologies regularly. Companies are spending a large amount of money on developing these advanced technologies, thereby increasing the cost of procurement for enterprises and government agencies to provide complete fire protection to infrastructure.

Integration with IoT and big data

Growth will be driven by increased use of IoT in fire safety which has the potential to offer immense safety and efficiency benefits. Wireless cellular networks or low-power wide area networks (LPWAN) can seamlessly transmit a wide range of data from IoT devices to help in prevention and suppression of fire. Sophisticated IoT sensors such as heat-proof sensors can resourcefully communicate the origin point of fire, the intensity and nature of fire and the spreading patterns, and also information about occupants in the fire zone. Accurate real-time information about the events going on at the hazard site empowers streamlined and synchronized firefighting and evacuation efforts, while potentially reducing the property damage and human casualties. Furthermore, IoT-enabled personal alert safety system allows detection of firefighter motion through an acoustic transmitter that functions as a beacon to precisely locate the firefighter. Such IoT monitoring systems may potentially incorporate sensors to gauge body temperature, heart rate, volume flow rate, gas pressure, and acoustic impact, among others.

Region Overview:

In 2022, the share of the Fire and Life Safety Solutions market in North America stood at 33.83%.

Company Overview:

Carrier is one of the major players operating in the Fire and Life Safety Solutions market, holding a share of 18.12% in 2023.

Carrier

Carrier is a leading global provider of health, safety, sustainable building, and cold chain solutions. The main products are heating and air conditioning, ventilation and air conditioning (HVAC) systems, but also commercial refrigeration and food service equipment, fire protection, security, building automation technology, and safety solutions for the food industry.

Johnson Controls

Provides a portfolio of building products, technologies, software, and services to make buildings smarter through a full range of systems and digital solutions. Offers a wide range of brands of fire and life safety products, along with complete, integrated fire and life safety solutions. Includes HVAC equipment, fire detection, suppression, distributed energy storage, digital solutions, industrial refrigeration, Lounging automation and controls, residential and smart home, security, retail solutions, oil and gas products.

Segmentation Overview:

By type, Fire Detection segment accounted for the largest share of market in 2022.

Fire Detection

Fire Detection is a type that finds fire hazards in buildings. It provides immediate alerts to people about any kind of emergency through alarm systems and/or voice communication systems. Fire Detection is very useful for detecting the presence of smoke, fire hazards, and other incidents. Regulatory requirements by various organizations, such as the National Fire Protection Association by the United States and the Building Code Australia, have mandated the installation of fire detection systems, hence boosting the demand for these systems.

Fire Management

Fire management provides a solution that helps organizations control fires by extinguishing them with minimum damage through early detection systems. It also reduces financial losses caused due to property damages after an emergency occurs at the business location owing to reduced response time received from local authorities because there are fewer chances of escaping employees getting trapped inside buildings during an emergency event which results in increased safety measures taken by companies who have their premises equipped with Fire Management Systems.

Application Overview:

In the Fire and Life Safety Solutions market, 37.49% of the total value was generated through the Facility segment by application in 2022.

Key Companies in the global Fire and Life Safety Solutions market covered in Chapter 3:

Siemens
Halma
Gentex
Honeywell
Carrier
Robert Bosch
Johnson Controls
Hochiki

In Chapter 4 and Chapter 14.2, on the basis of types, the Fire and Life Safety Solutions market from 2018 to 2029 is primarily split into:

Fire Detection
Fire Management

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Fire and Life Safety Solutions market from 2018 to 2029 covers:

Enterprise
Facility
Campus

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)