According to Stratistics MRC, the Global Intelligent Evacuation System Market is accounted for $0.74 billion in 2022 and is expected to reach $1.20 billion by 2028 growing at a CAGR of 8.4% during the forecast period.
An intelligent evacuation system is a form of alert and reaction generation facility that is aimed to improve the safety of people who are at risk due to an emergency event. It allows for a proper and safe evacuation procedure. Evacuation occurs through the closest exits, depending upon the situation. The intelligent evacuation system provides various benefits such as accurate and real-time head counting of people, increased on-site accountability. Well-known market players are making the investment to improve evacuation systems by dropping the time during the evacuation process. Moreover, the launch of innovated services will deliver a competitive edge, which plays an important role in driving the market growth.
Intelligent evacuation systems are designed through the combination of hardware and software components. Adoption of such systems in residential, commercial, and industrial buildings is very significant to evacuate humans quickly and safely form the evacuation area. Along with digitization, the use of advanced technologies, such as artificial intelligence, machine learning in the system plays an important role in evacuation operations to detect smoke, fire, and toxic gases in the building. In addition, many residential and small commercial places are installing smart evacuation systems due to their easy functionality and responsive services.
By geography, Europe is projected to have the highest CAGR over the forecast period, owing to the growing demand for intelligent evacuation systems from various industry verticals across Europe is constantly surging the product demand. Moreover, the rapid growth of building work of mega projects in Europe, considerable investments in the construction sector for adopting the latest technologies may increase the opportunities for intelligent evacuation system providers in the region.
Some of the key players profiled in the Global Intelligent Evacuation System Market include ABB, HOCHIKI Corporation, Robert Bosh S.A., Siemens, Honeywell International Inc., Johnson Controls, TOA Corporation, Norden Communication UK Ltd, Legrand, Automated Logic, Eaton Corporation Plc .
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Types Covered:
- Voice Evacuation System
- Mass Notification System
- Emergency Lighting
- Public Address System
- Other Types
End Users Covered:
- Industrial
- Commercial
- Residential
- Other End Users
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