A three-pronged approach was followed for deducing the fire alarm and detection market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for fire alarm and detection market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of fire alarm and detection market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The fire alarm and detection market was categorized into four segments, namely product (Fire Detectors, Fire Alarms), detectors type (Flame Detectors, Smoke Detectors, Heat Detectors ), alarms type (Audible Alarms, Visual Alarms, Manual Call-points Alarms), application (Commercial, Industrial, Residential), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The fire alarm and detection market was segmented into product, alarms type, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The fire alarm and detection market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; UAE; Saudi Arabia; South Africa .
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The fire alarm and detection market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Cooper Wheelock, Inc.: The company works as a subsidiary of Eaton and manufactures and sells fire and safety equipment featuring fire safety notification options and voice evacuation systems. The company also manufactures products related to communication and signaling. It offers visual and audible devices, digital voice announcement systems, and paging systems. It offers strobe and audible appliances, pull stations, sync modules, speaker and speaker strobe appliances, and explosion-proof appliances. It serves retail, industrial, educational, governmental, and military sectors.
Gentex Corporation: The company designs, manufactures, and sells products based on electro-optic technology. The company offers products and services for sectors such as automotive, aviation, and fire protection. It manufactures audiovisual signaling alarms, photoelectric smoke detectors and alarms, and electromechanical carbon monoxide alarms for commercial and residential applications. The company sells its products to distributors, electrical goods wholesalers, and OEMs of fire protection systems primarily in North America and in different regions through regional sales managers and manufacturer representative organizations. To retain its market position, the company continues to invest a significant portion of its total annual revenue in engineering and R&D activities. The company has operations in Germany, Japan, and China.
Halma PLC: The company is primarily engaged in providing products related to safety, health, and the environment across the globe. Halma plc has segregated its business into four sectors, namely process safety, medical, infrastructure safety, and environmental & analysis. The infrastructure safety business sector offers products related to the fire protection industry. The infrastructure safety sector is further divided into five principal markets, namely, fire detection, fire suppression, elevator safety, security sensors, and people and vehicle flow. The brands of Halma PLC group involved in the fire detection business include Advanced Electronics Ltd, Apollo Group of Companies, FFE Ltd, Argus Security, Limotec bvba, and LAN Control Systems. Advanced Electronics Ltd manufactures control panels for safety systems, Apollo Group of Companies manufactures fire detectors for commercial and industrial applications, and FFE Ltd specializes in fire detection and has two leading product brands, Talentum and Fireray.
HOCHIKI Corporation: The company is engaged in the development, manufacture, consulting engineering, maintenance, and installation of fire extinguishing, fire alarm, smoke control, and security systems in Japan and several other countries. The company has four major business segments, namely Fire Alarm Systems, Fire-Extinguishing systems, Information and Communication Systems, and Security Systems. The company has 13 foreign bases and operates in 129 countries with R&D centers in the U.S., Japan, and U.K. In the U.S. location, the company has standard sensors, modules, and panel factories for U.S. standard markets. In the U.K., the company has a core factory for manufacturing panels for the overseas market. In Japan, the company has its sensor mother factory and factories for mass production and prototypes.
Honeywell International Inc.: The company is a diversified technology provider and manufacturing company that offers automotive products, sensing and security technologies, electronic and advanced materials, and energy-efficient products and solutions. The company has four operating segments, namely aerospace, performance materials and technologies, building technologies, and safety and productivity solutions. The company offers fire alarms and detectors under its subsidiary NOTIFIER by Honeywell. Additionally, the company also provides home automation systems, lighting controls, video surveillance, and access control services. The company is also engaged in manufacturing, sales, services, and R&D activities across the globe, with exports to the U.S. being significant to its operations.
Johnson Controls: The company designs, manufactures, and offers solutions that enhance the operational efficiencies of buildings and various systems related to the automotive industry. The company supplies building control systems, building automation, HVAC equipment, seating and interior systems, and integrated facility management services. The products related to fire alarm & detection are offered through the building efficiency segment and have operations in over 53 countries. The building efficiency segment has numerous brands under and is segregated into six categories: fire and security brands, cooling, and heating equipment brands, building automation brands, refrigeration brands, air distribution brands, and parts brands.
NAPCO Security Technologies, Inc.: The company manufactures and sells a wide range of software and security products. The company offers intrusion and fire alarm systems, video surveillance systems, and access control systems for commercial, residential, industrial, and governmental applications. These products are broadly classified into three main categories: alarms and connectivity, locking and access control, and surveillance. The company sells and markets its products through a network of more than 10,000 professional dealers, installers, and distributors across the globe. The company spends 6– 8% of its revenue on R&D activities annually to realize steady and sustainable growth in sales and profitability of its products.
NITTAN COMPANY, LTD.: The company designs, develops, manufactures, and distributes fire alarms and safety equipment. It offers marine fire and gas protection, fire extinguishing, fire alarm, and smoke control, computerized automatic fire protection, and special high-hazard fire protection systems. Additionally, the company also provides equipment designing, installation, and maintenance services. The company has undertaken significant R&D activities in the field of fire safety to determine new technologies and develop innovative products for providing better safety products and services to its customers. It operates in the Americas, Asia Pacific, Europe, and Middle East & Africa regions.
Robert Bosch GmbH: Robert Bosch together with its subsidiaries, provides technology and services worldwide. The operations of the company are divided into four business sectors: Industrial Technology, Mobility solutions, Consumer goods, and Energy and Building Technology. Bosch Security Systems, Inc., a subsidiary of the Bosch Group, designs and supplies fire safety and detection equipment along with security equipment for applications such as video surveillance, communication, intrusion, and access control. It offers fire alarm systems including smoke detectors, fire panels, and other accessories. The company offers these products through a network of dealers and integrators spread across 60 countries around the globe.
Siemens AG: The company primarily offers products related to automation, electrification, and digitalization. The company has nine reportable segments, namely Power and Gas, Energy Management, Wind Power and Renewables, Mobility, Building Technologies, Process Industries and Drives, Digital Factory, Healthcare, and Financial Services. The Building Technologies segment offers products, software, solutions, and services related to fire safety building automation, security, ventilation, and HVAC. The company markets and sells its products through its partners, distributors, installers, and OEMs. It has several regional branch offices across the globe. In the fiscal year 2018, the building technology segment acquired three start-up companies to strengthen its portfolio and expertise in safety, energy efficiency, and smart space technologies. The company has robust capabilities that help enhance comfort and energy efficiency in buildings and infrastructure and provide protection against fire and security hazards.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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