Global Voice Evacuation System Market 2023-2030

Global Voice Evacuation System Market 2023-2030

Global Voice Evacuation System Market Size, Share & Trends Analysis Report by Product Type (Voice Sounders, Loudspeakers, Emergency Microphones, Networked and Wireless Systems, and Other Product Types) and by Application (Commercial Sector, Industrial Sector, and Residential Sector) Forecast Period (2023-2030)

The global voice evacuation system market is anticipated to grow at a considerable CAGR of 16.0% during the forecast period. The growth of the market is attributed to factors such as increasing safety regulations and standards, growing awareness about the importance of effective emergency communication systems, and the need for quick and efficient evacuation procedures. The growth of the market is also attributed to the growing launches of new and innovative product solutions by the market players to cater to the demand of the market. For instance, in March 2023, C-TEC’s launched a new evacuation alert system, EVAC-ALERT. It has been specified for a new purpose-built residential building in London. The system consists of a 2-loop control panel connected to a host of single and multi-way interface units, self-testing sounders, and visual indicators. Simple and intuitive with manual controls to allow firefighters to easily operate the evacuation alert devices located inside flats on a zone-by-zone or floor-by-floor basis, the panel is stored in a secure vandal-resistant cabinet which can only be accessed by the FRS using a special copy-protected key.

Segmental Outlook

The global voice evacuation system market is segmented based on its product type and application. Based on product type, the market is segmented into voice sounders, loudspeakers, emergency microphones, networked and wireless systems, and other product types. Based on application, the market is categorized into the commercial sector, industrial sector, and residential sector. Among the product types, networked and wireless systems are anticipated to witness significant growth during the forecast period due to their ability to provide flexible and integrated emergency communication solutions.

Commercial Sector to Register Significant Growth During the Forecast Period

Among the application segment, the commercial sector sub-segment is anticipated to register significant growth for the forecast period. The growth of the commercial sector sub-segment is attributed to the factors such as the rising adoption of voice evacuation systems in commercial buildings owing to the fatalities in commercial spaces due to man-made or natural emergencies. For instance, according to the Indian National Crime Records Bureau (NCRB), 330 fatalities occurred in commercial building fires in 2019.

Regional Outlooks

The global voice evacuation system market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed at a regional or country level as per the requirement. Among these regions, the North American region is anticipated to hold a prominent share of the voice evacuation system market during the forecast period. The growth in the North American region can be attributed to factors such as strict fire safety regulations, advanced infrastructure, and the presence of major players in the market.

Global Voice evacuation system Market Growth, by Region 2023-2030

Source: OMR Analysis

European Region is anticipated to Hold a Significant Share in the Global Voice evacuation system Market

Among all the regions, European region is anticipated to account for a significant share of the voice evacuation system market during the forecast period. The growth of the voice evacuation system market in the region is primarily driven by increased incidences of fire and a growing focus on public safety during emergencies. For instance, according to the statistics released by fire and rescue services (FRSs) in England for the year ending December 2022, the number of fire incidents reported in 2022 increased by 7.7% compared to 5 years ago and by 11% compared to 10 years ago.

Market Players Outlook

The major companies serving the global voice evacuation system market include Honeywell International Inc., Bosch Security Systems, Johnson Controls International plc, Eaton Corp., Siemens AG, Legrand SA, Gentex Corp., HOCHIKI Corp., and others. These market players are considerably contributing to the market growth by offering innovative voice evacuation system solutions and technologies. Additionally, they are adopting various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches to stay competitive in the market. in December 2021, Honeywell acquired privately held US Digital Designs, a Tempe, Arizona-based company, in an all-cash transaction. The company delivers alerting and dispatch communications solutions, which enhance efficacy and enable faster emergency response times. The acquisition will be integrated into Honeywell's Fire and Connected Life Safety systems business and will expand Honeywell's line of solutions for public safety communications, providing first responders with better situational awareness of building emergencies and improved life safety. The acquisitions enable Honeywell to securely transmit detailed data about the emergency, such as the type of hazard, severity, and location within the impacted building, all before first responders even arrive onsite.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global voice evacuation system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.