Intelligent Evacuation System Market Overview:
Intelligent Evacuation System Market an integrated hardware and software solution developed to facilitate the safety protocol of individuals in case of emergencies. This system establishes a notification and alerting medium that supports smooth and hassle-free evacuation procedure during variety of changing event circumstances such as fire situation, toxic incident, extreme weather condition, violence, and others. The intelligent evacuation system market is influenced by the rise in demand for technologically advanced products, increase in need for quick response management for emergency incidences, and supportive regulatory structure.
The global intelligent 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. On the basis of end user, it is classified into commercial, industrial, and residential. Based on geography, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The Global Intelligent Evacuation System Market Segmentation
The global intelligent evacuation system market was valued at $504 million in 2016, and is projected to reach $775 million by 2023, growing at a CAGR of 6.7% from 2017 to 2023. The major factors that drive the intelligent evacuation system market growth are technological innovation in product offerings, rise in adoption for building automation and control systems, increase in application areas among end users, and heavy venture capital investments in R&D activities to develop solutions with enhanced capabilities.
The Europe intelligent 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. The Asia-Pacific intelligent evacuation system market is expected to grow at the highest CAGR, owing to the presence of untapped demands and surge in need for better evacuation solutions.
The key players operating in the global intelligent evacuation system industry include 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. These players have expanded their market presence by adopting various business strategies, such as acquisition, geographical expansion, product development, strategic alliance, and collaboration.
Top Investment Pockets
The following graph signifies the potential of the global intelligent evacuation system market growth by region. It is evident from the figure that the Asia-Pacific is the top investment pocket for the market owing to the factors such as increase in adoption of intelligent evacuation system among end users and presence of untapped demands in the countries such as China, Japan, and Australia. LAMEA is projected to be the second-most lucrative segment owing to the factors such as economic growth in Central America and Latin America.
Top Impacting Factors
The global intelligent evacuation system market is influenced by a number of factors including growth in demand for building automation and control system, rise in need for advanced emergency response systems, supportive industry standards and regulatory compliance, increased application areas, higher installation and maintenance costs, demand from developing economies, and dearth of trained professionals. These factors collectively provide opportunities for the market growth. However, each factor has its definite impact on the market.
Following are the key factors affecting the global intelligent evacuation system market share.
Top Impacting Factors
- In-depth analysis of the market and dynamics is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
- Porter’s Five Forces analysis examines the competitive structure of the market and provides a clear understanding of the factors that influence the market entry and expansion.
- A detailed analysis of the geographical segments enables identification of profitable segments for market players in the global intelligent evacuation system industry.
- Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided.
- Detailed analysis of the key players operating in the industry and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Intelligent Evacuation System Market Key Segments:
- Voice Evacuation System
- Mass Notification System
- Emergency Lighting
By End Users
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
The key players profiled in the report are as follows:
- Robert Bosch GmbH
- HOCHIKI Corporation
- Honeywell International
- Johnson Controls International Plc
- Siemens AG
- ABB Group
- Automated Logic
- Beckhoff Automation GmbH & Co. KG
- Eaton Corporation Plc