The rise in accidents and loss of assets owing to fire hazards have increased the demand for fire protection system in recent years.The demand for complete solution in fire protection have resulted inincreasing global investment in fire protection system. Technologies such as wireless sensory network, smart building, human machine interface solutions and nanotechnology are making their efforts to protect accidents due to fire hazards.
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The total market is segmented by fire detection component, fire management components, fire analysis components and fire response component. Fire detection component include radio frequency identification (RFID) and detection and sensors; fire management components include interfaces and control panels. Further, fire analysis components include software andfire mapping analysis andfire response component include voice evacuation, emergency lighting, public alert and secure communication. In addition to this, fire alarm devices is segmented by the type of services such as installation and design, engineering services, managed service and service and maintenance. The major industries for this market include oil and gas, manufacturing, healthcare, transportation and logistics and others. The market is also segmented on the basis of geography into North America, Europe, Asia Pacific and Rest of World.
Stringent government regulations coupled with growing demand for high safety measures are the key driving forces for this market. There is a need to design sophisticated tools to tackle the complexity in networks to control the fire situations. Companies are investing large amount of money to design such technologies. However, integration of user interfaces when multiple solutions are being used in control mechanism act as a challenge.
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The major key players for this market include Bosch Security System, Tyco, Honeywell, United Technologies Corporation, Halma PLC., Siemens, Johnson Control, Secom, London Security, Hochiki Corporation and Gentex Corporation among others.