The key factor that drives the intelligent evacuation system market size includes increase in market for automated building solutions drive the growth of the market. In addition, supportive industry standards and regulations fuels the growth of the Intelligent Evacuation System Market. However, higher installation and maintenance costs is expected to impede the market growth. Furthermore, increased market for smart cities is expected to provide lucrative opportunities for the market growth.
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By type, the voice evacuation system segment dominated the intelligent evacuation system market in 2020, and is expected to continue its dominance in the coming years, owing to high efficiency of handling emergency situation, and demand for advanced solutions. However, emergency lighting segment is expected to witness growth at the highest rate owing to incorporation of smart technologies in lighting industry and technological advancement in lighting industry.
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By end user, the commercial segment dominated the intelligent evacuation system market size in 2020, and is expected to continue its dominance in the coming years, owing to rapidly evolving infrastructure complexities, congested escape routes, and increased acceptance of application specific solutions that facilitate phased evacuation. However, residential segment is expected to witness growth at the highest rate owing to, factors such as increased market for smart homes and development of application specific solutions.
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Region wise, the intelligent evacuation system market was dominated by North America in 2020, owing to the presence of strong regulatory framework and favorable government policies. However, Asia-Pacific is expected to witness growth at the highest rate owing to supportive regulatory standards from major countries like China, Japan, India, and Australia.The key players are ABB Group, Automated Logic, Beckhoff Automation GmbH & Co. KG, Eaton Corporation Plc, HOCHIKI Corporation, Honeywell International, Johnson Controls International Plc, Legrand, Robert Bosch GmbH, and Siemens AG.
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Key Findings Of The Study
- On the basis of type, the voice evacuation system segment accounted for the largest intelligent evacuation system market share in 2020.
- Region-wise, North America generated highest revenue in 2020.
- By end user, the commercial segment generated the highest revenue in 2020.
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