Fire Alarm Market Size, Share, Growth Analysis, By Product Type(Audible Alarms, Visual Alarms, and Manual Call-points Alarms), By Technology(Conventional Fire Alarm Systems and Addressable Fire Alarm Systems), By Connectivity(Wired, Wireless, and Hybrid), By End User(Commercial, Industrial, and Residential), By Region - Industry Forecast 2024-2031

Globally, North America accounted for the largest global fire alarm market share in 2021. Increasing instances of fire and fatalities in the region is driving revenue growth of the market.

Every 89 sec a home fire and property loss occurred, and damages accounted for USD 32,430 million in the U.S. These instances are increasingly generating demand for these alarms.

Stringent regulations and fire prevention regarding installation of these alarms in public properties such as offices, hospitals, schools, shopping malls, and retail stores are driving revenue growth in the region.

Europe accounted for a steady revenue share in the fire alarm market in 2021. Rising awareness of installation of firefighting systems in industrial and commercial premises is significantly driving revenue growth in the region.

Around 50 people death occurred due to fire fatalities in 2021. Also, many consumers are installing firefighting equipment such as smoke alarms for fire prevention has also contributed to revenue growth of the market in the region.

Asia Pacific accounted for a moderate revenue share in the global market in 2021. Rising developments in building and construction are attributed to revenue growth in the region.

A large number of builders and developers are highly adopting firefighting equipment such as fire alarms to warn residents and firemen and keep commercial and residential properties safe from the threat of fire.

Also, these alarms are highly adopted in industrial premises such as warehouses and power plants are driving revenue growth of the market in the region.