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Wireless fire detection systems market to generate revenues of $500 million by 2024

According to a new report by Global Market Insights, China is currently the dominant player in this market due to strict government regulations

Revenues from the wireless fire detection systems market are expected to reach $500 million globally by 2024, according to a recent research report by U.S research firm Global Market Insights.

The report highlighted that advancements in networking infrastructure and penetration of IoT devices across the globe are driving demand in the wireless fire detection system market.

Additionally, government regulations for fire safety have led several industry verticals, such as commercial buildings and manufacturing, to adopt these advanced technologies.

“Increasing demand for safety and security has given rise to technological advancements such as video surveillance and intrusion detection. Manufacturers have started integrating multiple devices and technologies, which are contributing to the growing adoption of these devices,” the study states. “Additionally, these devices are inexpensive and provide enhanced aesthetics, flexibility, and lesser interruption during installation as there are no cable and drills requirements. Ease and convenience of installation will bode well for the wireless fire detection system market.”

The wireless fire detection systems market is characterized by the presence of heat, smoke, gas, and multi-sensor types. The demand for multi-sensor detectors will grow due to their capability to detect both smoke and heat.

The report also highlighted that multi-sensor devices are easy to install in minimal time, as compared to wired devices.

“In mining facilities and disaster evacuation, false alerts can stop the operations for long durations, causing inconvenience for hours and incurring financial losses. Multi-sensor detectors are widely used in these applications as they provide a high level of reliability, decreasing inconvenience and financial losses,” the firm found.

Fully wireless technology will experience an increasing adoption due to their benefits over wired technology such as the elimination of cables in various devices, the significant reduction in labor cost, and the adoption of wireless over wired technology in every sector, the report adds.

Additionally, the growing trends of connected devices in smart homes play a vital role in driving the wireless fire detection systems market. As the products required for the technology must be highly ruggedized to protect the internal components, manufacturers, such as Cisco, are working on building them to complement the smart home infrastructure.

China has a dominant position in the wireless fire detection system market mainly due to the stringent government regulations in this field, according to the report.

Some of the vendors in the wireless fire detection systems market are Siemens AG, EuroFyre, Honeywell International, Tyco International, PLC, Robert Bosch, Electro Detectors, EMS Wireless Fire and Security, Sterling Safety Systems, and Halma PLC, among others.

ABOUT AUTHOR

Juan Pedro Tomás
Juan Pedro Tomás
Juan Pedro covers Global Carriers and Global Enterprise IoT. Prior to RCR, Juan Pedro worked for Business News Americas, covering telecoms and IT news in the Latin American markets. He also worked for Telecompaper as their Regional Editor for Latin America and Asia/Pacific. Juan Pedro has also contributed to Latin Trade magazine as the publication's correspondent in Argentina and with political risk consultancy firm Exclusive Analysis, writing reports and providing political and economic information from certain Latin American markets. He has a degree in International Relations and a master in Journalism and is married with two kids.

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