As cited by the research report titled ‘Global Wireless Fire Detection System Market Size by Product (Panel, Siren, Smoke Detector, Repeater), by System Type (Fully Wireless Systems, Hybrid Systems), by Mode Type (Standalone Mode, Addressable Mode, Conventional Mode), By End-User (Education, Residential, Healthcare, Government) and Regional Forecasts 2021-2027’, available with Market Study Report, global wireless fire detection system market was worth USD 0.66 billion in 2020 and is projected to grow with a CAGR of 10% to accumulate USD 1.29 billion over 2021-2027.
 

Rising demand for residential fire safety along with stringent fire safety regulations & standards are the major factors driving global wireless fire detection system market growth. In addition, technological advancements like artificial intelligence and Internet of Things are creating lucrative opportunities for market development, by enabling real time system alerts on smart devices such as smart watches and phones.
 

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For the record, wireless fire detection system sends signals with radio frequency from a sensor and transfers it to a fire alarm panel. These heat detectors have a built-in thermistor that sense heat.
 

On the downside, high cost of wireless fire detection systems and availability of low-cost system smoke and fire alarms are likely to hinder market progression over the estimated timeframe.
 

Based on product type, worldwide wireless fire detection system industry is segmented into panel, smoke detector, siren, and repeater. Considering system type, the marketplace is classified into fully wireless systems, and hybrid systems. Speaking of mode type, the business space is categorized into standalone mode, conventional mode, and addressable mode. By end user range, the industry space is divided into education, healthcare, residential, and government.
 

Geographically speaking, Asia Pacific, Europe, North America, and Latin America are the major benefactors to overall industry valuation. Experts cite that North America accounted for around USD 250 million of the total market share in 2019, owing to growing inclination towards improvement in safety of homes. Meanwhile, Asia Pacific industry is likely to grow at a substantial pace over the projected timeline.
 

Prominent companies swaying global wireless fire detection system industry dynamics are Robert Bosch GmbH, Detectomat Systems GmbH, Hochiki Corporation, Halma plc, Tyco International plc, Honeywell International Inc., EuroFyre Ltd., Sterling Safety Systems, EMS Wireless Fire and Security Ltd., Electro Detectors Ltd., and Siemens AG.