Some of the prominent players in the Fire Sensors and Detectors Market are Bosch Security Systems, United Technologies Corporation, Siemens AG and Honeywell International, Inc.
Fire sensors and detectors are security systems that are used for detection and protection against fire. These security devices detect the gases produced as end-products of combustion process, or respond to the rise in temperature caused by fire. Responses to the signals by these detectors may include activating a fire suppression system, sounding an alarm or deactivating fuel lines such as natural gas or propane line. There are multiple types of fire sensors and detectors such as carbon monoxide and smoke sensors that provide early fire warnings. Therefore, installing fire sensors ensures safety of people and assets, thereby ensuring business continuity.
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On the basis of applications, fire sensors and detectors market is segmented into perimeter security, port security, energy security, public safety and security and critical infrastructure protection among others. On the basis of end-user industries, the market is segmented into manufacturing, mining and natural resources, transportation and logistics, education, healthcare and life science, energy and utilities, retail and wholesale distribution, Banking, Financial Services and Insurance (BFSI) and government sector among others. On the basis of region, the fire sensors and detectors market revenue is majorly contributed by the North American region due to the presence of stringent laws to prevent fire-related injuries and fatalities.
The increasing number of business organizations around the globe taking initiatives to provide safe working environments for their employees is the prime factor fuelling the growth of fire sensors and detectors market. Such business organizations are undertaking programs to educate their employees about the workplace safety systems so as to significantly reduce fatalities in an event of fire. This helps them in reducing the damages caused to their precious assets and further enhance revenues. Another factor fuelling the growth of fire sensors and detectors market is the government regulations that encourage the installation of such safety systems to prevent fire-related losses. For instance, the New South Wales Government, since 2006, has made mandatory smoke alarms in all types of accommodations where people sleep. This initiates the people to install such security devices to comply with the ongoing government regulations thereby supporting their deployment and adding to the growth of this market.
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However, there are complex technical procedures involved in deploying such safety devices. For instance, fire sensors and detectors should not be installed near electrical equipment that emits electromagnetic radiations. This hampers their efficiency as sometimes they are not able to differentiate between such radiations and fire related dangers. Also, poor infrastructures of a building make it unaffordable to reconstruct the entire facility to comply with the fire sensors and detectors. Further, the manufacturers of such security systems sometimes find it difficult to design a predefined security system that can fit all the needs. Hence, the cost of final customized product is unaffordable by small and medium sized businesses. These factors restrain the growth of fire sensors and detectors market.
With the goal of providing smarter solutions, some of the major players in the market are coming up with innovative solutions that can help them in further penetrating the market. For instance, Tyco International Ltd., one of the prominent players in the market, on September 23, 2014, confirmed its expansion on Internet of Things capabilities thereby enabling smart services and predictive insights.