According to the research report titled ‘Global Fire Safety Systems Market Size study, by Technology (Passive Fire safety systems, Active Fire Safety Systems) by Product Type (Fire Detector, Fire Suppression) by End User (Commercial, Industrial, Government and Others) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global fire safety systems market was worth USD 11.71 billion in 2021 and is anticipated to expand at a CAGR of 7.5% during the stipulated timeframe to attain USD 19.43 billion by the year 2028.

Report findings suggests that rising fire-related events in industries, stricter fire safety laws & regulations, and growing awareness and emphasis on safety precautions are the major growth catalysts for global fire safety systems market.

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Notably, a fire safety system is a licensed item that is constructed in compliance with the guidelines laid down by governing bodies and regulatory organizations to prevent fire breakouts. To aid in the event of a fire, this system contains flame detection and smoke control devices.

Furthermore, integration of smoke detectors with IoT and Big Data is expected to fuel product demand, which in turn will augment industry outlook in the coming years. However, high installation and maintenance expenses may pose as restraining factors for the marketplace during the stipulated timeframe.

Based on technology, the market is split into active fire safety systems, and passive fire safety systems. In terms of product type, worldwide fire safety systems industry is bifurcated into fire suppression, and fire detector. On the basis of end user terrain, the marketplace is divided into government, industrial, commercial, and others.

Regionally, Asia Pacific accounts for a major revenue share at present and is poised to grow with a healthy CAGR during the study period, owing to increasing disposable income of individuals, accelerating urbanization and consequent construction activities, and rising production capacity in the region.

Competitively speaking, Minimax Viking GmbH, Hochiki Corporation, Robert Bosch GmbH, Halma plc, Carrier Global Corporation, Siemens AG, United Technologies Corporation, Gentex Corporation, Honeywell International Inc., and Johnson Controls International plc are the leading players influencing global fire safety systems marketplace.