Intelligent Evacuation System Market Scope
An intelligent evacuation system is an integrated hardware and software solution that enables safety protocol in case of an emergency. The system notifies and sends alert which then assists in having the hassle-free evacuation of an individual during an occurrence of an emergency or other critical events such as fire, toxic issues and extreme bad atmospheric condition. The demand for intelligent evacuation system is expected to grow in the forecasted period owing to rising demand for better-advanced emergency response system, building automation and control system.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | Europe |
Unit | Value (USD Million) |
Key Companies Profiled | HOCHIKI Corporation (Japan), Honeywell International (United States), Johnson Controls International Plc. (United States), Saval (Netherland), Siemens AG (Germany), Legrand (France), ABB Group (Switzerland), Automated Logic Corporation (United States), Beckhoff Automation GmbH & Co. KG (Germany) and Eaton Corporation Plc (Ireland) |
CAGR | 4.58% |
"According to AMA, the Global Intelligent Evacuation System market is expected to see growth rate of 4.58% and may see market size of USD775.28 Million by 2030."The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Intelligent Evacuation System market throughout the predicted period.
HOCHIKI Corporation (Japan), Honeywell International (United States), Johnson Controls International Plc. (United States), Saval (Netherland), Siemens AG (Germany), Legrand (France), ABB Group (Switzerland), Automated Logic Corporation (United States), Beckhoff Automation GmbH & Co. KG (Germany) and Eaton Corporation Plc (Ireland) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Intelligent Evacuation System market by Type and Region with country level break-up. On the basis of Type, Voice Evacuation System are dominating the market in the year 2023
On the basis of geography, the market of Intelligent Evacuation System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In November 2021, Bosch Building Technologies completed the acquisition of the U.K.-based company named Protec Fire and Security Group Ltd. which provides security and fire detection technology.
In July 2022, Hochiki Corporation installed 26 fire detection panels that consist of Hochiki's Syncro and Latitude system, along with two vision remote panels installed in IRCCS Sarco Cuore Don Calabria Hospital, Italy.
Influencing Trend:
Technological Innovation in Product Offering
Market Growth Drivers:
Increase in Demand for Technologically Advanced Product, Increase in Application areas among End User and Growing Adoption for Building Automation and Control System
Challenges:
Lack of Trained Professionals
Restraints:
High Installation and Maintenance Cost and Stringent Government Rules and Regulation
Opportunities:
Adoption of Intelligent Evacuation System Among End Users and Presence of Untapped Demand and Demand From Developing Economies
Key Target Audience
Intelligent Evacuation System Manufacturer, Intelligent Evacuation System Supplier, Raw Material Supplier, Goverment Bodies and Association and End Users