Emergency Evacuation System Market Size and Growth Rate:
Emergency evacuation systems market will grow steadily at a CAGR of around 7% by 2021. The increasing adoption of building automation and control systems as one of the primary growth factors for this market. The evacuation system market was valued at USD 504 million in 2016, and is projected to reach USD 775 million by 2023, growing at a CAGR of 6.7% from 2017 to 2023.
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Emergency Evacuation System Market Key Growth Factors:
Wireless fire alarm enables the integration of existing control system with fire alarm resultant in increased efficiency, low maintenance, and convenience of handling. Wireless connections such as low power Bluetooth enable devices to enhance the operation of fire alarms and quicken evacuation. The development of wireless communications is one of the key trends for the growth of the emergency alarm and evacuation systems market.
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Regional Growth Analysis of Emergency Evacuation System Market:
North America, Europe, Asia-Pacific, and LAMEA are the major parts of the world using the product. The Europe evacuation system market generated the highest revenue in 2016, attributed to rise in demand for advanced products and government regulations related to safety measures is expected to stimulate end users to enhance their safety needs for infrastructure development.
Key Companies are involved in Emergency Evacuation System Market Report:
Robert Bosch GmbH, HOCHIKI Corporation, Honeywell International, Johnson Controls International Plc, Siemens AG, Legrand, ABB Group, Automated Logic, Beckhoff Automation GmbH & Co. KG, Eaton Corporation Plc, and others.
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Emergency Evacuation System Market Key Detailed Segmentation:
Emergency evacuation system market is segmented based on type, end user, and geography. By type, the market is divided into voice evacuation system, mass notification system, and emergency lighting. End user involving the factor of residential, commercial and industrial field. The market is highly competitive due to the presence of few established players that have monopoly in the market. Vendors are making efforts to innovate and comply with industry standards to produce high-precision emergency buyers. Players in the emergency alarm and evacuation systems market have the need to produce high-quality products at reasonable prices to attract buyers and to attain competitive edge in the market.
Emergency Evacuation System Market Geographical Segment:
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