According to a 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 attain a valuation of USD 1.29 billion by the end of the forecast period 2021-2027, registering a CAGR of over 10% throughout.
 

Report findings claim that rigorous fire safety regulations and standards coupled with mounting demand for residential fire safety are the primary driving factors for worldwide wireless fire detection system industry growth.
 

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Moreover, technological advancements in artificial intelligence and Internet of Things (IoT), which facilitate real time alerts on smart devices are also creating new opportunities for businesses operating in this domain.
 

For the record, wireless fire detection systems send radio frequency signals from a sensor and transfer it to fire alarm panels. These heat detection systems comprise built-in thermistors which sense heat in the environment.
 

Elaborating on the negatives, elevated costs of wireless fire detection systems owing to requirement of high-quality expensive components, and availability of low-cost smoke systems & fire alarms are likely to hamper market remuneration in the upcoming years.
 

Considering the geographical landscape, global wireless fire detection system market report emphasizes on recent trends and forecasts for Asia Pacific, Europe, Latin America, and North America. Among these, North America industry captured significant market share and was valued at approximately USD 250 million during 2019. This can be attributed to rising emphasis towards improvement of safety features in residential complexes across the region.
 

Key players profiled in the report are Robert Bosch GmbH, Detectomat Systems GmbH, Hochiki Corp., Halma plc, Tyco International plc, Honeywell International Inc., Eurofyre Ltd., Sterling Safety Systems Ltd., EMS Wireless & Hybrid Fire Detection Solutions, Electro Detectors Ltd., and Siemens AG.