Global Fire Protection Systems Market Size, Share, Development, Growth and Demand Forecast to 2023 By P&S Market Research

The fire protection systems market has veteran advancement in fire protection technology in recent years. The product development, such as an automated fire protection system, which facilitate faster fire detection, reliable extinguishing, and preprogrammed responding are expected to replace the existing fire protection system over the next five to six years. Moreover, the government mandates for fire safety is also expected to increase the market penetration of fire protection system, particularly in the developing countries.

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Based on the technology, the global fire protection systems market can be classified into two broad categories: active fire protection system, and passive fire protection system. On the basis of product the global fire protection system market can be classified as fire detection (including smoke detectors, flame detectors and heat detectors), fire management (including fire sprinklers, fire extinguishers, and others), fire analysis, and fire response. Based on the verticals the market can be broadly categorized as banking, financial services, and insurance (BFSI), academia and institutional, consumer goods and retail, government, energy and power, healthcare, oil, gas, and mining, manufacturing, transportation and logistics, and others.
Passive fire protection system is expected to hold the largest market share during 2015-2020. They offer cost benefits over active fire protection systems and generally deployed with active and reliable information system interference. Suring construction in East-Asia, Southeast Asia, and East Europe is expected to drive the passive fire protection system market during the forecast period. Moreover, new technology and product innovation in fire protection system such as the use of nanotechnology and information and communication technology is expected to increase the fire protection system market during the forecast period.
North America was the market leader in fire protection system in 2014; stringent government regulation and high demand of passive fire protection system from industrial sector is driving the global fire protection system market in the region. Europe was the second largest market of fire protection system in 2014; ongoing replacement of the existing fire protection system is expected to drive the European fire protection system market in coming years. 
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