The global
fire protection systems market size is anticipated to grow at a CAGR of 7.5 percent until 2027. Fire safety systems include various equipment such as fire suppression systems, detectors, analysis software, etc. These systems are one of the most critical systems required to be installed in every factory and buildings as they not only help in detecting, controlling, and safeguarding the workers and every individual from
fire accidents but also help to extinguish the fire and alert the individuals about the accidents.
Earlier, the adoption in most of the emerging economies was not as high when compared to the developed economies due to the lack of awareness among consumers. However, owing to the efforts in educating users about the importance of fire safety systems from the multiple stake-holders such as systems manufacturers, dealers, and integrators, end-users are now aware of the importance of fire safety systems.
Initiating several fire safety programs and educating the end-users about the benefits of a fire alarm and detection system has drawn the attention of enterprises of all sizes including large enterprises.
Other factors driving the market growth are the standards and codes imposed by the regulatory authorities. The implementation of expensive advanced electronics systems has also increased the need to comply with fire safety standards. Therefore, growing rigidity has forced various enterprises to install fire protection systems. Increasing awareness of the safety and security of assets is also anticipated expected to provide huge opportunities for technological innovations in the fire safety systems market. Furthermore, an increase in expenditure from the enterprise segment and government are also predicted to augment the market growth.
Preventing industrial accidents from occurring is as important as having properly working safety systems to deal with an accident. The main objective is to create an operating environment in which accidents are prevented from starting in the first place.
Emphasizing the need for a secure mechanism in order to monitor implementation of safety compliances in industries, Chief Minister YS Jagan Mohan Reddy has stated that the Andhra State Government should act tough against those responsible for mishaps. Talking about the measures to be taken for the prevention of accidents and pollution control in industries, the chief minister said that officials should make sure that they receive the submission of compliance reports from the industries once every six months. Jagan stated that “The companies should display the details of the steps taken, besides a third-party inspection. There should be monitoring on industrial parks as well to see if the rules are being followed.”
