NEW YORK, March 21, 2016 /PRNewswire/ -- World Voice Alarm Systems Market : Safety Standards in Developed Countries & Dynamic Construction in Developing Countries Drive Market Growth
The global voice alarm systems (VAS) market is experiencing dynamic growth as voice-based systems become widely accepted in the market for fire and safety. As regulations and guidelines advance, VAS will begin to be required in more applications, penetrating the lower tiers of the market and opening up mass market opportunities to drive growth. This will lead to more entrants into the market, often selling compliant products at prices lower than that of competitors. As competitive pressure intensifies, Tier-I participants will increasingly focus on high-value applications for protection of smart buildings and infrastructure to maintain their margins and stay at the forefront of the industry.
Market Size and Penetration
- The global voice alarm systems market was valued at $ million in 2014 and is expected to reach $ million by 2019, with a strong compound annual growth rate (CAGR) of % for the period 2014–2019. - Voice alarm systems (VAS) will begin to be required in more applications, penetrating the lower tiers of the market and opening up mass market opportunities. This will lead to more entrants into the market, often selling compliant products at lower prices than incumbents.
- The average cost of systems will drop until margins get similar to those of fire alarm panels. Pricing
- VAS pricing trends will witnesses dynamic and increasing price sensitivity, due to the widening price range. Top-end prices are going up as high-end solutions become more sophisticated, while fierce competition is bringing down prices at the lower end. Preference for low-end products will stay high for growth regions, especially Asia-Pacific.
- Due to high price sensitivity among customers, especially in developing countries, low-end products are increasingly preferred, thus increasing price competition in all markets. Market Convergence
- VAS systems usually assist fire detection and alarm systems, which enables the growth of these two systems' markets hand-in-hand.
Key Questions This Study Will Answer
- Is the market growing? How long will it continue to grow and at what rate?
- Are the existing competitors structured well to meet customer needs?
- In which segments/applications and regions will the market grow fast?
- How will the structure of the market change with time? Is the market ripe for acquisitions?
- What are the type of applications offering opportunities for VAS?
- How will technological advancements transform systems to fill customer need gaps with intelligent solutions?
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