LONDON, May 26, 2016 /PRNewswire/ -- The North America Fire protection systems market has been broadly classified into components and services. The components market is estimated to account for the larger share of the North America Fire protection systems market in 2014. However, the services market is expected to grow at a higher CAGR in the next five years, owing to factors such as increased time consumption, lack of resources, and overhead costs involved in managing services in-house.
Overall market size is found by adding up the market size of various components namely, fire detection components such as sensors and detectors, RFID, fire management components such as control panels and interfaces, fire analysis components such as fire mapping and analysis software, and fire modelling and simulation software, fire response components such as emergency lighting, voice evacuation and public alerts, secure communication, and fire alarm devices, and services such as engineering services, installation and design, service and maintenance, and managed services.
A number of factors such as rise in spending by enterprises for fire protection, government policies, regulations, and political pressure are driving the growth of the North America Fire protection systems market. Enterprises have increased their spending on fire protection for safeguarding infrastructure, and reduced human losses due to fire hazards. Equipment such as sensors and detectors are implemented for fire protection within the enterprise premises to provide safety. Increase in the number of enterprises and SME's have led to the growth in fire protection systems market. The spending for fire protection systems is greater in North American region, followed by Asia Pacific, and Europe.
One challenge in fire protection is integrating user interfaces, when multiple solutions are used in the control mechanism. For example, in case of deployment of several fire detectors (or in the plan to add new ones in future), the user is overburdened with learning several different interfaces. Several vendors provide invaluable frameworks that integrate and manage a wide variety of products under one interface. Such frameworks protect the assets and key infrastructures with automatic and semi-automatic solutions and tools, to detect, verify and resolve events, such as fire hazard in real-time.
New product launches and product approvals are the key strategies adopted by the major players to develop their position in the North America Fire protection systems market. Moreover, strategies such as partnerships, agreements, collaborations, joint ventures, and acquisitions have been adopted by a significant number of market players to strengthen their product portfolio and to expand their geographic presence.
Bosch Security Systems (Germany), Halma plc (U.K.), Honeywell (U.S.), United Technologies Corporation (U.S.), and Tyco International (U.S.), are the key players operating in the North America Fire protection systems market.
The report will help the market leaders/new entrants in this market in the following ways –
1. This report will provide a comprehensive look in the North America Fire protection systems market in terms of components and services included in the fire protection systems market revenues. Market numbers are further split across verticals, end-users and countries (U.S., Canada, and Mexico).
2. The report will provide insights to the vendors about positioning of their competitors and their own and will help them understand opportunities in other industry verticals and regions.
3. The report helps them understand the pulse of the market. The report provides information on key market drivers, and restraints.
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