Voice Evacuation Systems Market is to Undertake Strapping Growth During 2031
Global Voice Evacuation System Market Outlook
The global voice evacuation system market is estimated at USD 713.7 Million in 2022 and is forecast to surpass USD 1,636.1 Million by 2032, growing at a CAGR of 8.6% from 2022 to 2032.
| Report Attributes | Details |
| Base Year Value (2021A) | USD 660.2 Million |
| Estimated Year Value (2022E) | USD 713.7 Million |
| Projected Year Value (2032F) | USD 1,636.1 Million |
| Global Growth Rate (2022-2032) | CAGR 8.6% |
| North America Market Share in 2021 | ~27% |
| North America Growth Rate (2022-2032) | CAGR ~8.9% |
| Collective Value Share (US, China, India) 2022: Top 3 Countries | ~43% |
| Top 5 Companies Market Share in 2021 | ~25% |
| Key Companies Profiled | Ambient System SP ZOOATEIS International SAAudico Systems OyBaldwin Boxall Communications Ltd.Cofem SAEaton Corp. PlcHoneywell International Inc.Johnson Controls International PlcMircom Group of CompaniesProtec Fire and Security Group Ltd.Other Market Players |
The global voice evacuation system market is likely to create an absolute dollar opportunity of USD 922.4 Million by the end of 2032. The global voice evacuation system market holds ~1% of the global IoT market.
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Demand for Quick and Smart Voice Evacuation Systems Influencing Key Companies to Focus on R&D Activities
Detectors that clearly announce danger with preloaded message have become increasingly popular, as studies have showed that people are increasingly responsible to recorder messages than tones from horn or chime. Effective voice alarm and safe evacuation of individuals needs professional skills in installation and design to make sure that emergency messages are clearly understandable and the system fulfill needs of a company’s on-site emergency strategy.
Creation of emergency plan must include emergency services and insures to identify types of risk, areas of risk, as well as required response time. Demand for quick and smart voice evacuation system is forcing key companies to focus on research and development to innovate product that satisfies the demand from end-use industries.
Voice-based systems are widely accepted in fire and safety market, which is a key driver for the growth of the global voice evacuation system market. Improving regulations and guidelines by governments of various countries are resulting into increase in demand for voice evacuation systems, penetrating lower tiers of the market and opening up mass market opportunities to drive growth.
This is likely to lead more companies to enter into the market, often selling complaisant products at lower prices than rivals. Owing to intensifying competitive pressure, Tier–I companies will increasingly concentrate on high-value applications for protection of infrastructure and smart buildings to stay at forefront in the global voice evacuation systems market.
Increasing Emphasis on Boosting Safety Apparatus Leading to Increasing Adoption of Voice Evacuation System
Risk of serious injury or death is clearly the most essential influence on safety planning. The responsibility to protect people, business and property has brought into sharp focus when the potential consequences are considered. In fact, reputation is the increasing concern of various companies with digital and social media empowering the wider public to publish and share views across the globe. From offices to commercial sector, and from airports to stadiums, rise in human footfall in public as well as commercial places has been observed.
Additionally, complexity of escape routes has intensified to reflect sheer diversity of modern as well as current designs. Necessity to be prepared for all scenarios is improved by social consideration such as ageing population with disabilities or impairments that might require assistance. Set against this background, improved understanding of risks combined with innovative technologies such as ability to make evacuation safer by tailoring solutions to meet various situations.
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Global Voice Evacuation System Market by Category
By Product Type, Global Voice Evacuation System Market is segmented as:
- Voice Sounders
- Loudspeakers
- Emergency Microphones
- Networked and Wireless Systems
- Other Product Types
By Application, Global Voice Evacuation System Market is segmented as:
- Commercial Sector
- Industrial Sector
- Residential Sector
By Region, Global Voice Evacuation System Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Published Sun, 10 Apr 2022 05:07:42 -0500
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