Pune, India, May 04, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global intelligent evacuation system market size was valued at USD 13.88 billion in 2022 and is projected to grow from USD 15.38 billion in 2023 to USD 34.24 billion by 2030, exhibiting a CAGR of 12.1% during the forecast period. Growing Pandemic-Related Demand for System Upgrades and Space Reconfigurations by Building Owners to Expand Market Opportunity. Fortune Business Insights, provide this information in its report titled, Intelligent Evacuation System Market Forecast, 2023-2030.
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Key Industry Development:
January 2022: ABB Group’s automatic control lighting system of electrification division profits Sweden’s Kattegatt High School, Halmstad to convert the building into smart, energy-proficient, secure, and comfortable.
Key Takeaways
- Intelligent evacuation system market size in North America was USD 4.46 Billion in 2022
- Increasing Adoption of Innovative Technologies to Boost Growth
- ABB Group Uses Automatic Control Lighting System to Make Prime Changes: Fortune Business Insights
- The Commercial segment is expected to hold a major market share during the projected period
Discover the Leading Players Featured in the Report:
“Companies leading the global intelligent evacuation system market are HOCHIKI Corporation (Japan), Robert Bosch S.A. (Germany), Siemens (Germany), Honeywell International Inc. (U.S.), ABB (Switzerland), Johnson Controls (Ireland), Eaton (Ireland), Legrand (France), TOA Corporation (Japan), Norden Communication UK Ltd (U.K.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 12.1% |
| 2030 Value Projection | USD 34.24 Billion |
| Base Year | 2022 |
| Intelligent Evacuation System Market Size in 2022 | USD 13.88 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 132 |
| Segments covered | Type, End-user and Geography |
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Drivers and Restraints:
Increasing Adoption of Innovative Technologies to Streamline Smart Evacuation Procedures
Hardware and software components are integrated during the construction of intelligent evacuation systems. To rapidly and safely evacuate people from residential, commercial, and industrial buildings, sophisticated evacuation systems must be installed. In addition to digitization, using cutting-edge technologies such as AI, ML, VR, and other similar ones in the system plays a crucial part in evacuation procedures by detecting smoke, fire, and dangerous chemicals in the structure. This is set to spur the intelligent evacuation system market growth.
Segmentation
By Component
- Solution
- Location Analytics
- Security Management
- Real-Time Streaming Analytics
- Remote Monitoring System
- Data Management Solutions
- Reporting and Analytics
- Services
- Professional
- Managed
By Application
- Smart Building
- Smart Healthcare
- Smart Energy
- Smart Transportation
- Public Safety
- Smart Infrastructure
- Others (Environmental Monitoring, smart governance, etc.)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
North America to Hold Largest Share Backed by Surging Demand for System Deployment
North America held the largest intelligent evacuation system market share throughout the predicted period. The rising demand for intelligent evacuation systems is continually being driven by the increasing demand from various business verticals in North America.
In comparison to other developed regions, the Asia Pacific market is anticipated to grow at the greatest rate forecast period of 2023-2030.
The main element fueling the market's expansion is Europe's rapidly expanding megaproject construction activity. However, large investments in the building industry for implementing the most recent technologies may expand the potential of regional players.
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Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Fundamental companies in the market often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, sign contracts with government organizations, and so on.
FAQs
How big is the intelligent evacuation system software market?
Intelligent evacuation system market size was USD 13.88 billion in 2022. It is expected to reach USD 34.24 billion by 2030.
How fast is the intelligent evacuation system market growing?
The intelligent evacuation system market will exhibit a CAGR of 12.1% during the forecast period, 2023-2030.
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